Form 4: Halliburton Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Halliburton's President of Western Hemisphere, Mark Richard, sold shares to cover tax obligations related to vesting stock awards.
Summary
- Mark Richard, President of Western Hemisphere at Halliburton, sold a total of 3,744 shares of common stock on January 7, 2025.
- These shares were sold to cover federal tax withholding obligations arising from the vesting of restricted stock awards.
- The sales were executed at a price of $27.68 per share.
- The shares were related to stock granted on January 3, 2023 and January 3, 2022, which vested on January 3, 2025.
- Following these transactions, Mr. Richard beneficially owns 537,385.595 shares of Halliburton common stock.
Sentiment
Score: 5
Explanation: This is a neutral event, reflecting routine executive stock transactions for tax purposes. It does not indicate any positive or negative sentiment about the company's performance.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when stock options or restricted stock units vest.
Comparison to Industry Standards
- Executive stock sales to cover tax obligations are a common practice across the oil and gas industry, as well as other sectors.
- Companies like Schlumberger and Baker Hughes also have executives who regularly file Form 4s for similar transactions.
- The number of shares sold and the timing are typical for vesting schedules and tax obligations.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale by an executive to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 01/03/2017 | Date of grant for options to buy common stock with an exercise price of $55.68, expiring on 01/03/2027. |
| 01/02/2018 | Date of grant for options to buy common stock with an exercise price of $49.61, expiring on 01/02/2028. |
| 12/20/2018 | Date of grant for options to buy common stock with an exercise price of $27.14, expiring on 12/20/2028. |
| 01/04/2016 | Date of grant for options to buy common stock with an exercise price of $34.48, expiring on 01/04/2026. |
| 01/03/2022 | Date of grant for stock that vested on January 3, 2025, some of which was sold on January 7, 2025. |
| 01/03/2023 | Date of grant for stock that vested on January 3, 2025, some of which was sold on January 7, 2025. |
| 01/03/2025 | Date of vesting for stock awards related to the sales on January 7, 2025. The closing price of Halliburton's stock was $27.68 on this date. |
| 01/07/2025 | Date of the stock sales by Mark Richard to cover tax obligations. |
| 01/10/2025 | Date the Form 4 was signed. |
Keywords
Halliburton, stock sale, insider trading, Form 4, executive compensation, tax obligations, share vesting, Mark Richard
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