Form 4: Hess Corp Senior Vice President Geurt G. Schoonman Reports Stock Transactions

Senior Vice President of Hess Corp, Geurt G. Schoonman, reported the sale of 6,000 shares and a tax withholding of 2,880 shares of common stock on November 7, 2024.

Summary

• Geurt G. Schoonman, a Senior Vice President at Hess Corp, filed a Form 4 disclosing changes in beneficial ownership of company stock.
• On November 7, 2024, Mr. Schoonman sold 6,000 shares of Hess Corp common stock at a price of $141.91 per share.
• Additionally, 2,880 shares were withheld to cover tax obligations related to the vesting of restricted stock at a price of $142.75 per share.
• Following these transactions, Mr. Schoonman directly owns 24,701 shares of Hess Corp common stock, which includes 11,267 shares held in escrow under the company's Long Term Incentive Plans.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing of stock transactions, which is neither positive nor negative in itself.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common practice and required by the SEC to ensure transparency and prevent insider trading.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the United States, and this filing is consistent with those requirements.
• The transactions are typical for executives who receive stock-based compensation and are required to disclose sales and tax withholdings.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they represent a small portion of the total outstanding shares.
• The tax withholding is a standard practice and does not have a significant impact on the company's financials.

Key Dates

Keywords

Hess Corp, stock sale, Form 4, insider trading, executive compensation, share withholding, restricted stock, beneficial ownership