Form 4: Halliburton CEO Jeffrey Allen Miller Acquires 621,600 Shares of Common Stock
SEC Form 4 Filing
Halliburton's CEO, Jeffrey Allen Miller, acquired 621,600 shares of common stock on February 27, 2024, at a price of $34.96 per share, increasing his total holdings to 1,380,615.332 shares.
Summary
- On February 27, 2024, Jeffrey Allen Miller, the Director, President, and CEO of Halliburton, acquired 621,600 shares of Halliburton common stock.
- The shares were acquired at a price of $34.96 per share.
- This acquisition was due to the achievement of performance criteria and vesting of performance share units granted on January 4, 2021, under the Halliburton Company Performance Unit Program.
- Following this transaction, Miller's total beneficial ownership of Halliburton common stock increased to 1,380,615.332 shares.
- Miller also holds options to buy Halliburton common stock at various exercise prices and expiration dates.
Sentiment
Score: 7
Explanation: The sentiment is moderately positive. The CEO acquiring a large number of shares due to vesting suggests the company met performance targets, which is a good sign. However, it's a routine transaction related to compensation.
Positives
- The CEO's acquisition of a significant number of shares could be interpreted as a positive signal about the company's future prospects.
- The vesting of performance share units suggests that performance targets were met, which is a positive indicator.
Industry Context
Executive stock ownership is common in the oilfield services industry, aligning management's interests with those of shareholders. This transaction is typical for executives receiving stock-based compensation.
Comparison to Industry Standards
- Comparing Halliburton's executive compensation structure to peers like Schlumberger (SLB) and Baker Hughes (BKR) shows similar patterns of stock options and performance-based equity awards.
- Executive stock ownership percentages are generally aligned across these major oilfield service companies.
Stakeholder Impact
- Shareholders may view the CEO's increased stake in the company positively.
- Employees may see it as a sign of confidence in the company's future.
Key Dates
| Date | Description |
|---|---|
| 12/03/2014 | Date of option grant with exercise price $40.75 and expiration date 12/03/2024 |
| 12/02/2015 | Date of option grant with exercise price $38.95 and expiration date 12/02/2025 |
| 12/07/2016 | Date of option grant with exercise price $53.54 and expiration date 12/07/2026 |
| 12/06/2017 | Date of option grant with exercise price $43.38 and expiration date 12/06/2027 |
| 12/05/2018 | Date of option grant with exercise price $31.44 and expiration date 12/05/2028 |
| 01/04/2021 | Date of grant for performance share units that vested on 02/27/2024 |
| 02/27/2024 | Date of transaction: CEO acquired 621,600 shares at $34.96 per share. |
| 02/29/2024 | Date of Form 4 filing. |
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