Form 4: Halliburton Executive Timothy McKeon Reports Acquisition of Common Stock
SEC Form 4 Filing
Halliburton's Senior VP and Treasurer, Timothy McKeon, reports acquiring 31,400 shares of common stock at $34.96 per share on February 27, 2024, increasing his direct holdings to 86,426 shares.
Summary
- On February 27, 2024, Timothy McKeon, Senior VP and Treasurer of Halliburton, acquired 31,400 shares of Halliburton common stock.
- The shares were acquired at a price of $34.96 per share.
- This acquisition increased McKeon's direct ownership to a total of 86,426 shares of Halliburton common stock.
- The acquisition was a result of the vesting of performance share units granted on January 4, 2021, under the Halliburton Company Performance Unit Program.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a standard disclosure of stock acquisition due to vesting of performance shares. It doesn't inherently indicate positive or negative sentiment, but rather a routine part of executive compensation.
Positives
- The acquisition of shares by a company executive can be seen as a positive sign, indicating confidence in the company's future performance.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies like Halliburton. It provides transparency into the holdings of key personnel.
Comparison to Industry Standards
- Executive compensation packages including performance-based equity are standard practice among Halliburton's peers such as Schlumberger, Baker Hughes, and Weatherford International.
- The vesting of performance share units is a common mechanism to align executive incentives with company performance, similar to practices observed in other large oilfield services companies.
Stakeholder Impact
- The transaction has a minor positive impact on shareholders as it signals executive confidence.
- There is no material impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 2014-12-03 | Date of option grant for 8,500 shares at $40.75, expiring 2024-12-03 |
| 2015-12-02 | Date of option grant for 8,300 shares at $38.95, expiring 2025-12-02 |
| 2016-12-07 | Date of option grant for 5,100 shares at $53.54, expiring 2026-12-02 |
| 2017-12-06 | Date of option grant for 5,800 shares at $43.38, expiring 2027-12-06 |
| 2018-12-05 | Date of option grant for 8,700 shares at $31.44, expiring 2028-12-05 |
| 2021-01-04 | Date of grant for performance share units under the Halliburton Company Performance Unit Program. |
| 2024-02-27 | Date of transaction: Acquisition of 31,400 shares of common stock at $34.96 per share due to vesting of performance share units. |
| 2024-02-29 | Date of signature on the Form 4 filing. |
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