Form 4: Schlumberger Executive Kevin Fyfe Reports Changes in Beneficial Ownership
SEC Form 4
Kevin Fyfe, VP & Treasurer of Schlumberger, reports the acquisition and disposal of company stock following the final determination of performance share units (PSUs).
Summary
- Kevin Fyfe, VP & Treasurer of Schlumberger, filed a Form 4 detailing changes in his beneficial ownership of Schlumberger stock.
- On March 1, 2024, Fyfe acquired 4,200 shares of common stock related to performance share units (PSUs) granted on January 20, 2021.
- The vesting of these PSUs was based on Schlumberger's performance over three years relative to key competitors.
- Also on March 1, 2024, Fyfe disposed of 1,653 shares to cover tax obligations at a price of $49.26 per share.
- Following these transactions, Fyfe directly owns 33,745 shares of Schlumberger common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The transactions are routine and related to previously granted compensation. The vesting of PSUs is a positive sign, but the sale of shares for tax obligations is a neutral event.
Positives
- The vesting of performance share units indicates that Schlumberger met certain performance targets relative to its competitors.
Industry Context
Executive stock transactions are common and provide insight into management's perspective on the company's performance and future prospects. The vesting of PSUs suggests that Schlumberger's performance was satisfactory relative to its peers.
Stakeholder Impact
- The vesting of PSUs and subsequent stock transactions may have a minor impact on shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| 2021-01-20 | Date the Company granted performance share units ('PSUs') to the reporting person. |
| 2024-01 | Company's compensation committee met to certify performance under the PSUs. |
| 2024-03-01 | Date of stock acquisition and disposal transactions. |
| 2024-03-05 | Date of Form 4 filing. |
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