SCHEDULE 13G/A: Hess Corporation: Key Insiders Update Beneficial Ownership Filings, Two Directors Drop Below 5% Threshold

Hess Corporation's latest Schedule 13G/A filing reveals updated beneficial ownership stakes for John B. Hess, Thomas H. Kean, and Nicholas F. Brady, with Kean and Brady no longer holding over 5% of common stock as of December 31, 2024.

Summary

• John B. Hess, Chairman and CEO of Hess Corporation, continues to be a significant beneficial owner, holding an aggregate of 26,502,061 shares, representing 8.58% of the company's common stock.
• Mr. Hess's ownership includes shares held directly, through various trusts for family members, limited liability companies, the Hess Foundation, Inc., stock options, restricted stock, and the Issuer's Employees' Savings Plan.
• Thomas H. Kean reported an aggregate beneficial ownership of 7,089,260 shares, or 2.3% of the class, and has ceased to be a beneficial owner of more than 5% of Hess Corporation common stock as of December 31, 2024.
• Nicholas F. Brady reported an aggregate beneficial ownership of 7,105,720 shares, or 2.31% of the class, and has also ceased to be a beneficial owner of more than 5% of Hess Corporation common stock as of December 31, 2024.
• A significant portion of the shared voting and dispositive power for all three individuals (7,067,802 shares) relates to shares held by a limited partnership, where Messrs. Hess, Brady, and Kean serve on the management committee of the general partner.

Sentiment

Score: 5

Explanation: The document is a factual, routine disclosure of beneficial ownership. While two individuals dropped below the 5% threshold, the filing provides no context to suggest this is a negative signal for the company's operations or future prospects. John B. Hess remains a significant beneficial owner.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of beneficial ownership changes for a publicly traded company, common in the energy sector for long-standing executives and board members. It reflects individual investment decisions and compliance with SEC reporting thresholds rather than operational or strategic shifts for Hess Corporation.

Stakeholder Impact

• Shareholders: Provides transparency on the beneficial ownership stakes of key individuals, including the Chairman and CEO, and changes in significant insider holdings.

Key Dates

Keywords

Hess Corporation, Beneficial Ownership, Schedule 13G, Common Stock, Insider Ownership, Shareholder Disclosure, SEC Filing, John B. Hess, Thomas H. Kean, Nicholas F. Brady