Form 4: Hess Corp Executive Andrew Slentz Reports Stock Transactions Following Vesting of Performance Share Units

Senior Vice President Andrew Slentz of Hess Corporation reports acquisition of shares through vesting of performance share units and subsequent disposal to cover tax obligations.

Summary

• On February 5, 2025, Andrew Slentz, a Senior Vice President at Hess Corp, acquired 13,745 shares of common stock due to the vesting of Performance Share Units.
• These units were granted on March 6, 2022, and their vesting was based on Hess's total shareholder return compared to its peers over a three-year period ending December 31, 2024.
• Simultaneously, Slentz disposed of 4,394 shares to cover tax obligations related to the vesting at a price of $142.74 per share.
• Following these transactions, Slentz beneficially owns 50,828 shares of Hess Corp common stock, including 15,072 shares held in escrow under the Corporation's Long Term Incentive Plans.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document simply reports stock transactions related to vesting of performance share units and tax obligations. The vesting itself is a positive signal, but the document is primarily informational.

Positives

• The vesting of Performance Share Units indicates that Hess Corp met certain performance criteria related to shareholder return compared to its peers.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are often tied to performance-based compensation plans. The vesting of performance share units suggests that Hess Corp achieved certain pre-defined performance goals relative to its industry peers.

Comparison to Industry Standards

• Performance-based equity compensation is a standard practice among large corporations, including Hess Corp's peers in the energy sector such as ExxonMobil, Chevron, and ConocoPhillips.
• The specific metrics and vesting schedules vary, but relative total shareholder return is a common performance measure used to align executive compensation with shareholder value creation.
• The vesting of these units indicates that Hess's performance, as measured by total shareholder return, was competitive within its peer group over the specified three-year period.

Stakeholder Impact

• The vesting of performance share units and subsequent stock transactions have a minor impact on shareholders, as they reflect the execution of pre-existing compensation agreements.
• Employees who hold similar performance-based equity awards may view the vesting as a positive sign of the company's performance.

Key Dates

Keywords

Hess Corp, Andrew Slentz, Performance Share Units, Stock Transactions, Beneficial Ownership, Form 4, Vesting, Tax Obligations, Shareholder Return