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

Senior Vice President of Hess Corporation, Geurt G. Schoonman, reports the acquisition and disposal of company stock related to performance share units.

Summary

• Geurt G. Schoonman, a Senior Vice President at Hess Corporation, filed a Form 4 detailing changes in beneficial ownership of company stock.
• On February 5, 2025, Schoonman acquired 16,494 shares of Hess common stock upon the vesting of Performance Share Units granted on March 6, 2022.
• These units vested based on Hess's total shareholder return compared to its peers over a three-year period ending December 31, 2024.
• On the same day, Schoonman disposed of 5,473 shares to satisfy tax obligations related to the vesting of these Performance Share Units at a price of $142.74 per share.
• Following these transactions, Schoonman directly owns 35,722 shares of Hess common stock, which includes 11,267 shares held in escrow under the Corporation's Long Term Incentive Plans.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing detailing stock transactions. The vesting of performance share units suggests the company met certain performance targets, which is mildly positive.

Positives

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

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The vesting of performance share units is a common practice to align management's interests with those of shareholders.

Stakeholder Impact

• The vesting of performance share units aligns management's interests with shareholders, potentially driving long-term value creation.

Key Dates