Form 4: Halliburton Executive Charles Geer Jr. Reports Stock Transactions
SEC Form 4 Filing
Halliburton's SVP and Chief Accounting Officer, Charles Geer Jr., reported the transfer of 1,087 shares for tax obligations and the expiration of a stock option.
Summary
- Charles Geer Jr., a Senior Vice President and Chief Accounting Officer at Halliburton, filed a Form 4 detailing changes in his beneficial ownership of company stock.
- On December 4, 2024, Mr. Geer transferred 1,087 shares of common stock back to Halliburton to cover federal tax withholding obligations related to the vesting of restricted stock.
- The price per share for this transaction was $31.56, which was the closing price on December 2, 2024, when the stock vested.
- Mr. Geer's total direct holdings of Halliburton common stock after this transaction is 96,275.088 shares.
- Additionally, a stock option to buy 8,700 shares at $40.75 expired on December 3, 2024.
- The report also includes details of other stock options held by Mr. Geer, which are still active.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions, which is neither positive nor negative. It is a neutral event.
Negatives
- A stock option for 8,700 shares at $40.75 expired, resulting in a loss of potential value for Mr. Geer.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice in publicly traded companies. It provides transparency into the executive's holdings and transactions.
Comparison to Industry Standards
- Form 4 filings are standard practice for executives of publicly traded companies like Halliburton, similar to filings made by executives at companies such as Schlumberger (SLB) and Baker Hughes (BKR).
- The stock option grants and vesting schedules are typical components of executive compensation packages in the oilfield services industry.
- The transfer of shares to cover tax obligations is a common practice among executives who receive stock-based compensation.
Stakeholder Impact
- The stock transfer has a minor impact on the total number of outstanding shares.
- The expiration of the stock option has no direct impact on shareholders.
Key Dates
| Date | Description |
|---|---|
| 12/02/2015 | Date of stock option grant with an exercise price of $38.95. |
| 12/07/2016 | Date of stock option grant with an exercise price of $53.54. |
| 12/06/2017 | Date of stock option grant with an exercise price of $43.38. |
| 12/05/2018 | Date of stock option grant with an exercise price of $31.44. |
| 12/02/2020 | Date of stock grant related to the shares that vested on December 2, 2024. |
| 06/30/2024 | End of period for shares purchased through the Employee Stock Purchase Plan. |
| 12/02/2024 | Date the restricted stock vested and the closing price of Halliburton stock was $31.56. |
| 12/03/2024 | Date a stock option for 8,700 shares expired. |
| 12/04/2024 | Date of the stock transfer for tax obligations. |
| 12/06/2024 | Date the Form 4 was signed. |
Keywords
Halliburton, Stock Transaction, Form 4, Beneficial Ownership, Charles Geer Jr., Stock Options, Tax Withholding, Executive Compensation
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