Form 4: Baker Hughes Executive Borras Exercises Options and Sells Shares Under 10b5-1 Plan
SEC Form 4
Maria C. Borras, EVP of Oilfield Services & Equipment at Baker Hughes Co, executed stock options and sold shares of Class A Common Stock under a pre-arranged 10b5-1 trading plan.
Summary
- Maria C. Borras, an Executive Vice President at Baker Hughes Co, reported transactions involving Class A Common Stock on May 24, 2024.
- Borras exercised stock options to acquire 18,000 shares at a price of $22.98 per share.
- Concurrently, Borras sold 37,980 shares at $32 per share and 18,000 shares at $32 per share.
- These transactions were executed under a Rule 10b5-1 trading plan adopted on February 21, 2024.
- Following these transactions, Borras directly owns 92,035 shares of Class A Common Stock and 5,585 derivative securities (stock options).
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions executed under a pre-existing trading plan. There is no indication of positive or negative implications for the company.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies. The use of 10b5-1 trading plans allows insiders to sell shares over a period of time, avoiding concerns about trading on material non-public information.
Key Dates
| Date | Description |
|---|---|
| January 23, 2019 | Date the stock option was granted, vesting in three equal annual installments beginning one year from the date of grant. |
| February 21, 2024 | Date the reporting person adopted the Rule 10b5-1 trading plan. |
| May 24, 2024 | Date of the reported transactions: exercising stock options and selling shares. |
| May 29, 2024 | Date of the Form 4 filing. |
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