Form 4: Hess Corporation CEO John B. Hess Receives Shares from Charitable Trust Distribution

Hess Corporation CEO John B. Hess received over 2.5 million shares of common stock due to the termination of a charitable lead annuity trust.

Summary

• John B. Hess, CEO of Hess Corporation, received 2,559,679 shares of common stock as a result of the termination of a charitable lead annuity trust.
• The shares were distributed from the trust, which was established under the will of Leon Hess, to trusts set up for the benefit of John B. Hess and his siblings.
• Additionally, 7,679,037 shares previously held by the charitable trust were distributed to other trusts.
• The transaction occurred on December 25, 2024, and was reported on December 26, 2024.

Sentiment

Score: 7

Explanation: The document reflects a neutral event, a standard transfer of shares from a trust, with no indication of positive or negative sentiment regarding the company's performance.

Positives

• The transaction increases John B. Hess's indirect ownership of Hess Corporation stock.
• The distribution of shares from the trust does not involve any direct purchase or sale, so there is no cost to the recipient.

Industry Context

This is a routine filing related to changes in beneficial ownership by a company executive and is not indicative of any broader industry trends.

Comparison to Industry Standards

• This type of filing is standard practice for corporate insiders when there are changes in their beneficial ownership of company stock.
• Similar filings are common across all publicly traded companies when executives receive stock grants, exercise options, or have changes in their ownership due to trusts or other arrangements.
• The transaction is not related to the company's operational performance or financial results, but rather to the distribution of assets from a trust.

Stakeholder Impact

• The transaction has a minor positive impact on John B. Hess's personal holdings.
• The transaction does not have a direct impact on other stakeholders such as shareholders, employees, customers, or suppliers.

Key Dates

Keywords

Hess Corporation, John B. Hess, charitable trust, stock distribution, beneficial ownership, SEC Form 4, Leon Hess