Form 4: Halliburton Director Smith Reports Acquisition of Stock Equivalent Units

Director Maurice S. Smith reports acquisition of stock equivalent units and holdings of restricted stock units in Halliburton.

Summary

• On June 28, 2024, Director Maurice S. Smith reported the acquisition of stock equivalent units under the Halliburton Company Directors' Deferred Compensation Plan.
• The acquired stock equivalents, totaling 966.974 units, are based on the closing price of Halliburton common stock on June 27, 2024, which was $33.61.
• Smith also holds 4,917.423 stock equivalent units directly.
• Additionally, Smith holds 4,871.34 restricted stock units awarded in March 2023 and 3,893.27 restricted stock units awarded in December 2023, both of which vest in one year from the award date.
• These restricted stock units represent the right to receive one share of Halliburton common stock each.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of stock transactions by a company director, indicating standard compensation practices.

Positives

• The acquisition of stock equivalent units by a director may signal confidence in the company's future performance.

Future Outlook

The restricted stock units vest in one year on the first anniversary of the award, and shares will be delivered upon vesting or following cessation as a director if the reporting person elected to defer receipt.

Industry Context

This filing is a routine disclosure related to executive compensation and holdings, common in the oil and gas industry where equity-based compensation is prevalent.

Comparison to Industry Standards

• Equity compensation is a common practice among Halliburton's peers, such as Schlumberger, Baker Hughes, and Weatherford International.
• These companies typically use a mix of stock options, restricted stock units, and performance-based equity awards to align executive interests with shareholder value.
• The vesting schedules and terms of these awards are generally comparable across the industry, with vesting periods ranging from one to three years.

Stakeholder Impact

• The acquisition of stock equivalent units by a director can be viewed positively by shareholders as it aligns the director's interests with the company's performance.

Key Dates