Form 4: Halliburton Executive Van H. Beckwith Reports Stock Transactions for Tax Obligations
SEC Form 4 Filing
Halliburton's EVP, Secretary, and CLO, Van H. Beckwith, transferred shares to cover tax obligations related to vested stock awards.
Summary
- Van H. Beckwith, an executive at Halliburton, filed a Form 4 detailing the transfer of company stock to cover tax obligations.
- The transactions occurred on January 7, 2025, involving the transfer of 1,182 shares and 1,833 shares.
- These shares were transferred to Halliburton to satisfy federal tax withholding requirements on the vesting of stock awards.
- The stock awards vested on January 3, 2025, and were related to grants from January 3, 2023 and January 3, 2022.
- The price of Halliburton's common stock on January 3, 2025, was $27.68 per share.
- Following these transactions, Beckwith directly owns 300,229.49 shares and 298,396.49 shares of Halliburton stock.
- Beckwith also holds options to buy 54,348 shares of common stock at an exercise price of $23.57, expiring on January 15, 2030.
Sentiment
Score: 7
Explanation: The document is a routine filing of stock transactions, which is neither positive nor negative. It is a neutral event in the context of the company's operations.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice in publicly traded companies. It reflects the standard process of executives managing their equity compensation and tax obligations.
Comparison to Industry Standards
- The stock transactions are typical for executives at publicly traded companies like Halliburton, where equity compensation is a significant part of their overall package.
- Similar filings are regularly made by executives at companies such as Schlumberger (SLB) and Baker Hughes (BKR), which are direct competitors of Halliburton in the oilfield services industry.
- The use of stock transfers to cover tax obligations is a common practice across the industry, ensuring executives can manage their tax liabilities without needing to sell shares on the open market.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to executive compensation and tax obligations.
- The transactions do not affect the company's operations or financial position.
Key Dates
| Date | Description |
|---|---|
| 01/15/2020 | Date of option grant for 54,348 shares. |
| 01/03/2022 | Date of stock grant related to 1,833 shares transferred. |
| 01/03/2023 | Date of stock grant related to 1,182 shares transferred. |
| 01/03/2025 | Date of stock vesting for both share transfers, with a closing price of $27.68. |
| 01/07/2025 | Date of share transfers for tax obligations. |
| 01/10/2025 | Date of Form 4 filing. |
| 01/15/2030 | Expiration date of stock options. |
Keywords
Halliburton, Stock Transactions, Form 4, Executive Compensation, Tax Withholding, Van H. Beckwith, Share Transfer, Stock Options
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