Form 4: Halliburton Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Halliburton's President of Eastern Hemisphere, Jeffrey Shannon Slocum, sold shares to cover tax obligations related to vesting stock awards.
Summary
- Jeffrey Shannon Slocum, President of Eastern Hemisphere at Halliburton, sold a total of 4,328 shares of common stock on January 7, 2025.
- The sales were executed to cover federal tax withholding obligations arising from the vesting of restricted stock awards.
- The shares were sold at a price of $27.68 per share.
- The stock awards that vested were granted on January 3, 2023, January 3, 2022, and January 4, 2021.
- Following these transactions, Mr. Slocum still beneficially owns 162,452.401 shares of Halliburton common stock.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations. It is neither positive nor negative for 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 awards vest.
Comparison to Industry Standards
- Many executives in publicly traded companies, including those in the oil and gas sector like Schlumberger and Baker Hughes, regularly sell shares to cover tax liabilities related to stock awards.
- The practice of using vested shares to cover tax obligations is a standard part of executive compensation packages across various industries.
- The number of shares sold and the timing are typical for this type of transaction, and the price is based on the market value of the stock at the time of vesting.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale by an executive to cover tax obligations.
- The sale does not indicate any change in the executive's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 01/04/2016 | Grant date for stock options exercisable at $34.48. |
| 01/03/2017 | Grant date for stock options exercisable at $55.68. |
| 01/02/2018 | Grant date for stock options exercisable at $49.61. |
| 01/04/2021 | Grant date for stock that vested on January 4, 2025. |
| 01/03/2022 | Grant date for stock that vested on January 3, 2025. |
| 01/03/2023 | Grant date for stock that vested on January 3, 2025. |
| 01/03/2025 | Vesting date for some of the shares sold. |
| 01/04/2025 | Vesting date for some of the shares sold. |
| 01/07/2025 | Date of the stock sales to cover tax obligations. |
| 01/10/2025 | Date of filing of the Form 4. |
Keywords
Halliburton, stock sale, insider trading, executive compensation, tax obligations, stock options, share vesting
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.