Form 4: Schlumberger Executive Merad Abdellah Reports Changes in Beneficial Ownership

EVP of Core Services & Equipment at Schlumberger, Merad Abdellah, reports changes in beneficial ownership of company stock following the final determination of performance share units (PSUs).

Summary

• On March 7, 2025, Merad Abdellah, EVP of Core Services & Equipment at Schlumberger, reported changes in beneficial ownership of Schlumberger Limited/NV [SLB] common stock.
• These changes are related to the final determination of performance share units (PSUs) granted on January 19, 2022, and April 19, 2022.
• The vesting of these PSUs was based on Schlumberger's three-year performance relative to key competitors.
• The company's compensation committee initially approved the issuance of 80% of the shares in January 2025, pending the release of audited financial results from all competitors.
• After all competitor results were reported, the final number of shares earned under the PSUs was determined.
• Abdellah acquired 11,384 shares and 913 shares, and disposed of 4,840 shares at $40.87.
• Following these transactions, Abdellah beneficially owns 217,959 shares of Schlumberger common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of stock transactions related to executive compensation. The vesting of PSUs suggests satisfactory performance, but the filing itself is simply a procedural update.

Positives

• The reporting person received shares based on the company's performance, indicating a potentially positive performance outcome relative to its competitors.

Industry Context

Executive stock ownership changes are a common occurrence in publicly traded companies and are often related to compensation plans and performance-based incentives. This filing provides transparency into the executive's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Executive compensation structures, including performance share units, are common across the oilfield services industry.
• Companies like Halliburton (HAL) and Baker Hughes (BKR) also utilize similar equity-based compensation to align executive interests with shareholder value.
• The vesting criteria based on relative performance against competitors is a standard practice to incentivize outperformance.
• The disclosure of these transactions through Form 4 filings is a regulatory requirement ensuring transparency in executive stock ownership.

Stakeholder Impact

• Shareholders gain insight into executive compensation and alignment of interests.
• Employees may view this as a reflection of company performance and executive rewards.
• The market may react slightly to the news, but it's unlikely to be a major driver of stock price.

Key Dates