Form 4: ChampionX Executive's Equity Converted to Schlumberger Shares Post-Merger
Insider Transaction Report
Kenneth M. Fisher, EVP & CFO of ChampionX Corp, has converted his ChampionX common stock, deferred stock units, and restricted stock awards into Schlumberger Limited common stock following the merger.
Summary
- Kenneth M. Fisher, Executive Vice President and Chief Financial Officer of ChampionX Corp, reported changes in his beneficial ownership of securities.
- The changes occurred pursuant to the Agreement and Plan of Merger dated April 2, 2024, where ChampionX Corp merged with and into Sodium Merger Sub, Inc., resulting in ChampionX becoming an indirect wholly owned subsidiary of Schlumberger Limited (SLB).
- Prior to the merger's effective time, 242,092 shares of ChampionX Common Stock beneficially owned by Mr. Fisher were cancelled and converted.
- Each outstanding share of ChampionX Common Stock was converted into the right to receive 0.735 shares of SLB Common Stock, with cash in lieu of fractional shares.
- Deferred Stock Units (DSUs) and Restricted Stock Awards of ChampionX were also cancelled and converted into restricted shares of SLB Common Stock, adjusted by the same 0.735 exchange ratio.
- Following the reported transaction, Mr. Fisher beneficially owns 0 shares of ChampionX Common Stock directly.
Sentiment
Score: 5
Explanation: The document is a factual report of a mandatory transaction (share conversion due to merger) and does not contain information that would indicate a positive or negative sentiment regarding company performance or outlook.
Future Outlook
NA
Industry Context
The merger of ChampionX Corp into Schlumberger Limited represents a consolidation within the oilfield services industry, with Schlumberger expanding its portfolio by acquiring ChampionX's assets and operations.
Stakeholder Impact
- Shareholders of ChampionX Corp had their common stock converted into Schlumberger Limited common stock, impacting their equity holdings and future investment exposure.
Key Dates
| Date | Description |
|---|---|
| April 2, 2024 | Date of the Agreement and Plan of Merger between ChampionX Corp, Schlumberger Limited, Sodium Holdco, Inc., and Sodium Merger Sub, Inc. |
| December 23, 2024 | Date of the Section 280G Mitigation Agreement between ChampionX Corp and Kenneth M. Fisher. |
| July 16, 2025 | Date of Earliest Transaction, representing the effective time of the merger for reporting purposes. |
Keywords
ChampionX, CHX, Schlumberger, SLB, Merger, Form 4, SEC filing, Stock conversion, Beneficial ownership, Executive compensation
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.