Form 4: Halliburton Director Maurice Smith Increases Equity

Halliburton Director Maurice S. Smith acquired 1,372.04 stock equivalent units on September 29, 2025, as part of a deferred compensation plan.

Summary

• Maurice S. Smith, a Director of Halliburton Co (HAL), acquired 1,372.04 stock equivalent units on September 29, 2025.
• These units were acquired under the Halliburton Company Directors' Deferred Compensation Plan and convert to common stock on a one-for-one basis.
• The acquisition reflects pro-rata accruals from the Issuer's Plan quarter, attributed to quarterly dividends and fees.
• The stock equivalent units were based on closing prices of $24.44 on September 24, 2025, and $25.00 on September 29, 2025.
• Following this transaction, Smith beneficially owns 11,728.754 stock equivalent units.
• Smith also beneficially owns Restricted Stock Units (RSUs) totaling 15,295.19 units, comprising 6,226.77 units vesting in December 2024, 5,040.19 units vesting in December 2023, and 4,028.23 units vesting in March 2023.
• RSUs represent a right to receive one share of the Company common stock and vest one year from the award date, with shares delivered upon vesting or deferred until cessation as a director.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction related to director compensation, which is neither inherently positive nor negative for the company's operational or financial outlook.

Positives

• Director Maurice S. Smith increased his beneficial ownership in Halliburton Co through the acquisition of 1,372.04 stock equivalent units.
• The acquisition is part of a routine, ongoing Directors' Deferred Compensation Plan, indicating standard compensation practices and aligning director interests with shareholder value.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction, as it is a report on insider ownership changes.

Industry Context

This filing represents a routine insider transaction, common for directors receiving compensation in the form of equity or equity-linked instruments. Such transactions are standard practice across various industries for aligning director interests with shareholder value.

Comparison to Industry Standards

• NA

Related Party Transactions

• Maurice S. Smith's acquisition of stock equivalent units under the Halliburton Company Directors' Deferred Compensation Plan represents a routine compensation arrangement between a director and the company.

Stakeholder Impact

• Shareholders: Minor, as it reflects routine director compensation and aligns director interests with company performance through equity ownership.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Creditors: No direct impact mentioned.

Next Steps

• Settlement of stock equivalent units in common stock following Maurice S. Smith's cessation as a director.
• Vesting of Restricted Stock Units on their respective anniversary dates (December 2024, December 2023, March 2023), with shares delivered upon vesting or deferred.

Key Dates

Recommendation

This Form 4 details a routine acquisition of stock equivalent units by a director as part of a deferred compensation plan. It does not contain any new material information regarding the company's financial performance, strategic direction, or operational outlook that would warrant a change in an investment thesis. Therefore, a 'hold' recommendation is appropriate as the filing provides no basis for altering existing positions.

Keywords

Halliburton, HAL, Maurice S. Smith, Director Compensation, Stock Equivalents, Restricted Stock Units, Insider Ownership, Deferred Compensation Plan, SEC Form 4