Form 4: ChampionX Director's Equity Converts to Schlumberger Shares Post-Merger

A recent SEC Form 4 filing reveals ChampionX Corp. director Carlos Fierro's equity holdings were converted into Schlumberger Limited common stock following the merger agreement.

Summary

• Carlos Fierro, a Director of ChampionX Corp. (CHX), reported changes in his beneficial ownership of securities.
• On July 16, 2025, Fierro acquired 2,771 shares of ChampionX Common Stock at a price of $0, as contemplated by the Issuer's Amended and Restated 2018 Equity and Cash Incentive Plan and the Merger Agreement.
• On the same date, Fierro disposed of 13,592 shares of ChampionX Common Stock at a price of $0.
• These transactions resulted in Fierro holding 0 shares of ChampionX Common Stock following the reported transactions.
• The disposition was pursuant to the Agreement and Plan of Merger, dated April 2, 2024, between ChampionX Corp., Schlumberger Limited (SLB), Sodium Holdco, Inc., and Sodium Merger Sub, Inc.
• Under the Merger Agreement, Sodium Merger Sub, Inc. merged with and into ChampionX Corp., making ChampionX an indirect wholly owned subsidiary of SLB.
• Each outstanding share of ChampionX Common Stock was cancelled and converted into the right to receive 0.735 shares of SLB common stock, plus cash in lieu of fractional shares.
• Each deferred stock unit (DSU) of ChampionX was also converted into SLB Common Stock based on the number of underlying shares multiplied by the 0.735 exchange ratio, rounded down to the nearest whole share.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While it marks the end of ChampionX as an independent entity, the transactions are a planned outcome of a strategic merger, and the director's equity has been converted into shares of a larger, established entity (SLB).

Positives

• The director received 2,771 shares of ChampionX Common Stock at no cost, likely as part of an equity incentive plan, immediately prior to the merger conversion.

Negatives

• The director no longer holds direct equity in ChampionX Corp. as a result of the company becoming a wholly-owned subsidiary of Schlumberger Limited.

Future Outlook

The document details the completed conversion of ChampionX equity into Schlumberger equity as a result of the merger, indicating ChampionX is now an indirect wholly-owned subsidiary of Schlumberger Limited.

Industry Context

This filing reflects the finalization of a significant consolidation event in the oilfield services sector, where ChampionX Corp., a provider of production optimization solutions, has been acquired by Schlumberger Limited, a global technology company in the energy industry. This merger strengthens Schlumberger's portfolio and market position by integrating ChampionX's offerings.

Stakeholder Impact

• ChampionX shareholders, including the reporting director, have had their shares converted into Schlumberger Limited common stock, effectively becoming shareholders of SLB.

Key Dates

Keywords

ChampionX Corp, CHX, Schlumberger Limited, SLB, Merger, SEC Form 4, Insider Trading, Equity Conversion, Director Holdings, Stock Exchange Ratio