Form 4: Weatherford CEO Gifts Shares, Updates Holdings
Insider Transaction Report
Weatherford International CEO Girish Saligram reported gifting 10,000 ordinary shares, reducing his direct beneficial ownership.
Summary
- Girish Saligram, President and CEO, and a Director of Weatherford International plc (WFRD), reported a disposition of 10,000 ordinary shares.
- The transaction, a gift (Code G), occurred on December 11, 2025, with a price of $0 per share.
- The gifted shares were donated to the American Endowment Foundation FBO Girish Saligram, a donor-advised trust.
- Following the transaction, Saligram's direct beneficial ownership stands at 990,169 ordinary shares.
- Indirect beneficial ownership includes 20,000 ordinary shares held in a trust where Saligram and his spouse are grantors, trustees, and beneficiaries.
- An additional 52,105 ordinary shares are held in a spousal lifetime access trust, with Saligram's spouse as trustee and beneficiary.
- 100,000 ordinary shares are now held indirectly in a grantor retained annuity trust, where Saligram is the grantor, trustee, and annuitant, with a remainder interest for his children. These shares were previously reported as indirectly owned in a different trust.
- The filing was signed by Kathy Medford via Power of Attorney on December 15, 2025.
Sentiment
Score: 5
Explanation: The disposition of shares is a personal gift by the CEO and does not reflect on the company's operational or financial performance. It is a neutral event for the stock price.
Future Outlook
The filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.
Industry Context
This filing is a routine insider transaction report and does not provide information directly related to broader industry trends or competitive landscape within the oilfield services sector.
Related Party Transactions
- Girish Saligram gifted 10,000 ordinary shares to the American Endowment Foundation FBO Girish Saligram, a donor-advised trust.
- 20,000 ordinary shares are held in a trust where Girish Saligram and his spouse are grantors, trustees, and beneficiaries.
- 52,105 ordinary shares are held in a spousal lifetime access trust, with Girish Saligram's spouse as the trustee and beneficiary.
- 100,000 ordinary shares are held in a grantor retained annuity trust where Girish Saligram is the grantor, trustee, and annuitant, with a remainder interest for his children.
Stakeholder Impact
- Shareholders: Minimal direct impact on the company's valuation or operational strategy from a personal share gift by the CEO.
- Employees: No direct impact on employees.
Key Dates
| Date | Description |
|---|---|
| 2025-06-10 | Date Power of Attorney was executed by Girish Saligram. |
| 2025-12-11 | Date of the reported gift transaction of 10,000 ordinary shares. |
| 2025-12-15 | Date the Form 4 was signed by Kathy Medford via Power of Attorney. |
Keywords
WFRD, Weatherford International, Girish Saligram, Form 4, Insider Transaction, Share Gift, Beneficial Ownership, CEO
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