Form 4: SLB Executive Gassen Reports Future Share Vesting and Tax Sale

SLB EVP Steve Matthew Gassen reported the future vesting of 17,789 performance shares and the subsequent disposition of 7,001 shares for tax withholding, effective January 23, 2026.

Summary

• EVP, Geographies, Steve Matthew Gassen, reported changes in beneficial ownership of SLB common stock.
• On January 23, 2026, Gassen is scheduled to acquire 17,789 shares of common stock at a price of $0 per share.
• These shares are being issued upon the achievement of performance criteria and vesting of performance share units granted on January 18, 2023.
• Concurrently, Gassen is scheduled to dispose of 7,001 shares of common stock at a price of $50.25 per share.
• This disposition is typically for tax withholding purposes related to the vesting of the performance shares.
• Following these transactions, Gassen will directly own 66,693 shares of common stock.
• Additionally, Gassen indirectly holds 5,739 equivalent shares in the SLB Stock Fund, as updated in November 2025.
• The transactions are made pursuant to a Rule 10b5-1 plan.

Sentiment

Score: 7

Explanation: The filing reports a routine executive compensation event where performance shares vested, indicating successful achievement of prior performance targets. While there's a sale for tax purposes, the overall event reflects positive performance and continued executive ownership, which is generally positive for investor confidence.

Positives

• The vesting of 17,789 performance shares indicates that the performance criteria set in January 2023 were met, suggesting positive company performance over the vesting period.
• The executive's continued direct and indirect ownership of a significant number of shares aligns management's interests with shareholders.

Negatives

• The disposition of 7,001 shares, while common for tax withholding, represents a reduction in the executive's direct ownership.

Future Outlook

The filing indicates a future transaction date of January 23, 2026, for the vesting of performance shares, suggesting a pre-planned event under a Rule 10b5-1 plan. This implies a stable and predictable executive compensation structure.

Industry Context

This is a routine insider transaction filing (Form 4) for an executive at a major oilfield services company. Such filings are common and reflect standard executive compensation practices, including performance-based equity awards and subsequent tax-related sales. The specific price of $50.25 for the tax-related disposition provides a snapshot of the company's stock value at the time of the transaction.

Comparison to Industry Standards

• The use of performance share units (PSUs) as part of executive compensation is a common practice across the energy and industrial sectors, aligning executive incentives with long-term company performance.
• The disposition of shares to cover tax obligations upon vesting of equity awards is standard practice for executives in publicly traded companies, similar to peers like Halliburton (HAL) or Baker Hughes (BKR).
• The reported share price of $50.25 for the tax-related sale can be compared to SLB's historical stock performance and that of its competitors around the transaction date to assess relative valuation.

Stakeholder Impact

• Shareholders: The vesting of performance shares indicates the achievement of previously set performance criteria, which is a positive signal for the company's operational execution. The executive's continued significant direct and indirect share ownership (66,693 direct, 5,739 indirect) maintains alignment of management and shareholder interests.
• Employees: No direct impact on employees is indicated by this filing.
• Customers, Suppliers, Creditors: No direct impact on these stakeholders is indicated by this filing.

Key Dates

Recommendation

This Form 4 filing details a routine, pre-scheduled executive compensation event involving the vesting of performance shares and a subsequent sale for tax purposes. It indicates that performance targets were met, which is a positive signal regarding past company performance. However, it does not provide new fundamental information about the company's operational or financial outlook that would warrant a change in investment recommendation. The transaction is expected and does not suggest any significant shift in executive confidence or company trajectory. Therefore, a 'hold' recommendation is appropriate, maintaining current positions based on broader company fundamentals rather than this specific insider transaction.

Keywords

SLB, Schlumberger, Form 4, Insider Trading, Stock Vesting, Performance Shares, Executive Compensation, Steve Matthew Gassen, EVP Geographies, 10b5-1 Plan