Form 4: Baker Hughes Director William G. Beattie Reports Stock and Deferred Stock Unit Transactions

Director William G. Beattie reported the acquisition of restricted stock units and adjustments to deferred stock units in Baker Hughes Co.

Summary

• On May 22, 2024, Director William G. Beattie reported transactions related to Baker Hughes Co. stock.
• Beattie acquired 5,453 restricted stock units (RSUs) which vested immediately and will be deferred as stock units under the Director Deferral Plan.
• The report also includes an adjustment of 233 deferred stock units (DSUs) to correct an understatement in a previous filing from December 15, 2023.
• Following the reported transactions, Beattie beneficially owns 17,448 shares of Class A Common Stock indirectly through Cannonbury Investments Limited.
• The aggregate DSUs held by Beattie is 84,072, inclusive of the current grant and the adjustment.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transactions reflect continued investment in the company by a director, and the correction of a previous error indicates diligence. There are no overtly negative aspects.

Positives

• The acquisition of restricted stock units and deferred stock units suggests continued alignment of the director's interests with the company's performance.
• The correction of the previous error in DSU reporting demonstrates attention to detail and transparency in financial disclosures.

Future Outlook

The reporting person will receive shares of Class A Common Stock in the future when they cease to serve as a director, according to the Director Deferral Plan.

Industry Context

This filing is a routine disclosure of stock transactions by a company insider, which is common among publicly traded companies. It provides transparency to investors regarding the holdings and transactions of key personnel.

Comparison to Industry Standards

• Director stock ownership and deferred compensation plans are common practices among large publicly traded companies like Baker Hughes.
• Companies such as Schlumberger (SLB) and Halliburton (HAL) also have similar programs for their directors and executives.
• The level of stock ownership and deferred stock units held by Mr. Beattie is within a typical range for directors of companies of similar size and complexity.

Stakeholder Impact

• The disclosure provides transparency to shareholders regarding the stock ownership of a key director.
• The transactions have a minimal direct impact on employees, customers, suppliers, or creditors.

Key Dates