Form 4: Halliburton Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Halliburton's President of Western Hemisphere, Mark Richard, disposed of shares to cover federal tax withholding obligations.
Summary
- On March 1, 2024, Mark Richard, President Western Hemisphere at Halliburton, disposed of 86,098 shares of common stock to cover federal tax withholding obligations.
- The transaction was executed at a price of $34.96 per share.
- Following the transaction, Richard directly owns 506,478.552 shares of Halliburton common stock.
- Richard also holds options to buy common stock at various prices and expiration dates.
Sentiment
Score: 5
Explanation: This is a neutral transaction related to tax obligations, with no significant positive or negative implications for the company's performance.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, which are closely monitored by investors.
Comparison to Industry Standards
- Executive stock transactions are common across the oil and gas industry, with companies like Schlumberger and Baker Hughes also seeing regular filings related to stock options and tax obligations.
- The number of shares disposed of is within the typical range for executives at this level, and the use of stock to cover tax obligations is a standard practice.
Stakeholder Impact
- The transaction has a minimal impact on shareholders, as it is a routine sale to cover tax obligations and does not indicate a change in the executive's long-term outlook for the company.
Key Dates
| Date | Description |
|---|---|
| 01/02/2015 | Date of option to buy common stock at $39.49 expiring 01/02/2025 |
| 01/04/2016 | Date of option to buy common stock at $34.48 expiring 01/04/2026 |
| 01/03/2017 | Date of option to buy common stock at $55.68 expiring 01/03/2027 |
| 01/02/2018 | Date of option to buy common stock at $49.61 expiring 01/02/2028 |
| 12/20/2018 | Date of option to buy common stock at $27.14 expiring 12/20/2028 |
| 02/27/2024 | Performance Unit shares were issued; closing price of Halliburton's Common Stock was $34.96. |
| 03/01/2024 | Date of transaction where 86,098 shares were disposed of to cover tax obligations. |
| 03/05/2024 | Date of signature on the Form 4 filing. |
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