Form 4: Halliburton Executive McKeon Transfers Shares for Tax Obligations
SEC Filing
Halliburton's Senior VP and Treasurer, Timothy McKeon, transferred shares to cover tax obligations related to vested stock options.
Summary
- Halliburton's Senior VP and Treasurer, Timothy McKeon, transferred 551 shares of common stock to the company.
- The shares were transferred to cover federal tax withholding obligations.
- These obligations arose from the lapse of restrictions on shares issued under the company's Stock and Incentive Plan.
- The stock vested on December 4, 2024, and was related to a grant from December 4, 2019.
- The closing price of Halliburton's common stock on December 4, 2024, was $30.60 per share.
- The shares were withheld for tax reporting on December 6, 2024.
Sentiment
Score: 7
Explanation: The document describes a routine transaction related to executive compensation, which is neither positive nor negative. The sentiment is neutral to slightly positive as it indicates the executive is receiving compensation.
Industry Context
This is a routine transaction related to executive compensation and is common practice in publicly traded companies.
Comparison to Industry Standards
- Stock-based compensation is a standard practice across the oil and gas industry, with companies like Schlumberger and Baker Hughes also utilizing similar plans.
- The vesting and tax withholding mechanisms described are typical for equity compensation programs in the US.
- The share price of $30.60 is a specific data point for Halliburton and would need to be compared to its peers at the same date to assess relative performance.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves a small number of shares being transferred for tax purposes.
- The transaction has no direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 2015-12-02 | Date of stock option grant with an exercise price of $38.95 and expiry date of 2025-12-02. |
| 2016-12-07 | Date of stock option grant with an exercise price of $53.54 and expiry date of 2026-12-02. |
| 2017-12-06 | Date of stock option grant with an exercise price of $43.38 and expiry date of 2027-12-06. |
| 2018-12-05 | Date of stock option grant with an exercise price of $31.44 and expiry date of 2028-12-05. |
| 2019-12-04 | Date of the original stock grant related to the shares that vested on December 4, 2024. |
| 2024-12-04 | Date the stock options vested, with a closing price of $30.60 per share. |
| 2024-12-06 | Date the shares were transferred to cover tax obligations. |
| 2024-12-10 | Date of the filing. |
Keywords
Halliburton, stock options, tax obligations, share transfer, executive compensation, equity, vesting
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