Form 4: Schlumberger Executive Gavin Rennick Reports Changes in Beneficial Ownership

Gavin Rennick, President of New Energy at Schlumberger, reports transactions involving company stock, including the final determination of performance share units earned.

Summary

• On March 7, 2025, Gavin Rennick, President of New Energy at Schlumberger, reported changes in beneficial ownership of Schlumberger stock.
• The transactions include the acquisition of 7,115 shares of common stock at $0 and the disposal of 2,800 shares at $40.87.
• These transactions resulted in Rennick owning 57,899 shares of Schlumberger common stock directly.
• The acquisition of shares relates to the final determination of performance share units (PSUs) granted on January 19, 2022, which vested based on Schlumberger's performance relative to competitors over three years.
• The final share determination was delayed due to the late reporting of 2024 audited financial results by some competitors.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document simply reports stock transactions related to executive compensation. The vesting of PSUs is a positive sign, but the document itself is purely informational.

Positives

• The vesting of performance share units indicates that Schlumberger achieved certain performance targets relative to its competitors.

Industry Context

Executive stock transactions are common and are often tied to performance-based compensation plans. The vesting of PSUs suggests that Schlumberger's performance is being evaluated against its peers in the energy sector.

Stakeholder Impact

• The vesting of performance share units could be viewed positively by shareholders as it indicates the company met certain performance goals.

Key Dates