Form 4: Schlumberger Executive Rakesh Jaggi Reports Stock Transactions
SEC Form 4 Filing
Rakesh Jaggi, a Schlumberger executive, reported the vesting and subsequent sale of restricted stock units and common stock on January 17, 2025.
Summary
- Rakesh Jaggi, President of Digital & Integration at Schlumberger, reported transactions involving common stock and restricted stock units (RSUs) on January 17, 2025.
- The transactions included the vesting of 5,047 RSUs and 4,440 RSUs, which converted into common stock.
- A portion of the vested shares were then sold to cover tax obligations, with 1,615 shares sold at $43.05 per share related to the first RSU vesting and 1,629 shares sold at $43.05 per share related to the second RSU vesting.
- Following these transactions, Jaggi directly owns 74,170 shares of Schlumberger common stock.
Sentiment
Score: 7
Explanation: The document is a routine SEC filing related to executive compensation. It doesn't indicate any positive or negative sentiment, but it is a normal part of corporate governance and transparency.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the vesting schedule of equity-based compensation for a key executive.
Comparison to Industry Standards
- The vesting schedule of one-third per year is a common practice for RSU grants in the technology and energy sectors.
- Many companies, such as Halliburton and Baker Hughes, use similar equity compensation structures for their executives.
- The sale of shares to cover tax obligations is also a standard practice when RSUs vest.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they represent a small portion of the total outstanding shares.
- The transactions are part of the executive compensation plan and are not expected to have a significant impact on the company's operations or financial performance.
Key Dates
| Date | Description |
|---|---|
| 01/19/2022 | Date of grant for the first RSU award, which vests in thirds over three years. |
| 01/18/2023 | Date of grant for the second RSU award, which vests in thirds over three years. |
| 01/19/2023 | First vesting date for the first RSU award. |
| 01/18/2024 | First vesting date for the second RSU award and second vesting date for the first RSU award. |
| 01/17/2025 | Date of reported transactions including vesting of RSUs and sale of shares. |
| 01/19/2025 | Final vesting date for the first RSU award. |
| 01/18/2026 | Final vesting date for the second RSU award. |
| 01/21/2025 | Date the form was signed. |
Keywords
Schlumberger, stock, RSU, restricted stock units, insider trading, executive compensation, equity, vesting
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