Form 4: Hess CEO John B. Hess Reports Changes in Beneficial Ownership
SEC Form 4 Filing
John B. Hess, CEO of Hess Corporation, reports transactions involving common stock and performance share units, resulting in adjustments to his beneficial ownership.
Summary
- On February 5, 2025, John B. Hess, the CEO of Hess Corporation, reported changes in his beneficial ownership of the company's stock.
- These changes involve the vesting of performance share units and the withholding of shares to cover tax obligations.
- Mr. Hess acquired 91,632 shares of common stock upon the vesting of performance share units.
- He also disposed of 49,585 shares to satisfy tax obligations related to the vesting.
- Following these transactions, Mr. Hess directly owns 271,512 shares of Hess Corporation common stock.
- This amount includes 84,429 shares held in escrow pursuant to the Corporation's 2008 Long Term Incentive Plans.
Sentiment
Score: 6
Explanation: The document reflects routine transactions related to executive compensation. It is neither overwhelmingly positive nor negative.
Positives
- The vesting of performance share units indicates that performance targets related to total shareholder return were met over the three-year performance period ending December 31, 2024.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 2022-03-06 | Date of grant for the Performance Share Units. |
| 2024-12-31 | End of the three-year performance period for the Performance Share Units. |
| 2025-02-05 | Date of the reported transactions (vesting and tax withholding). |
| 2025-02-07 | Date of the signature on the Form 4 filing. |
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