Form 4: Weatherford International EVP and CFO Anuj Hasit Dhruv Awarded Performance and Restricted Share Units

Anuj Hasit Dhruv, EVP and CFO of Weatherford International plc, received performance share units and restricted share units on April 21, 2025, under the company's 2019 Equity Incentive Plan.

Summary

• Anuj Hasit Dhruv, the EVP and CFO of Weatherford International plc, was granted performance share units (PSUs) and restricted share units (RSUs) on April 21, 2025.
• The PSUs, totaling 27,825, were granted under the Issuer's 2019 Equity Incentive Plan, as amended and restated.
• The payout for the PSUs can range from 0% to 200% of the target award, depending on the achievement of performance goals between January 1, 2025, and December 31, 2027.
• 11,925 RSUs vest in three equal installments on the first, second and third anniversaries of the grant date.
• 22,496 RSUs vest in two equal installments on the first and second anniversaries of the grant date.
• All share units were granted under the 2019 Equity Incentive Plan.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating a stable and ongoing operation. The use of performance-based units suggests a focus on aligning executive incentives with company goals, which is generally viewed positively.

Positives

• The grant of PSUs aligns executive compensation with company performance over a three-year period.
• The vesting schedules of the RSUs provide a retention incentive for the executive.

Risks

• The actual value of the PSUs is contingent on the company's performance, which may not meet the set goals.
• The executive may leave the company before the RSUs fully vest, forfeiting the unvested portion.

Future Outlook

The performance share units vest based on actual performance during the Issuer's three fiscal years beginning on January 1, 2025 and ending December 31, 2027.

Industry Context

Granting equity-based compensation is a common practice in the oilfield services industry to align executive interests with shareholder value and incentivize long-term performance. Companies like Schlumberger, Halliburton, and Baker Hughes also utilize similar compensation structures.

Comparison to Industry Standards

• Companies like Schlumberger, Halliburton, and Baker Hughes also utilize similar compensation structures.
• These companies often use a mix of salary, bonus, and equity-based compensation to attract and retain top talent.
• The specific terms of the equity grants, such as vesting schedules and performance metrics, can vary widely depending on the company's size, performance, and strategic goals.

Stakeholder Impact

• Shareholders: The equity grants aim to align executive interests with shareholder value.
• Employees: The grants may serve as a motivation for other employees, demonstrating a commitment to rewarding performance.
• Executives: The grants provide a significant incentive for the executive to drive company performance.

Key Dates

Keywords

Weatherford International, Anuj Hasit Dhruv, Performance Share Units, Restricted Share Units, Equity Incentive Plan, Compensation, EVP, CFO