Form 4: Weatherford International Executive Scott C. Weatherholt Reports Share Transactions
SEC Form 4 Filing
Executive Vice President, General Counsel, and Chief Compliance Officer of Weatherford International, Scott C. Weatherholt, reports the vesting and subsequent tax withholding of restricted share units.
Summary
- Scott C. Weatherholt, an executive at Weatherford International, reported transactions involving the company's ordinary shares and restricted share units (RSUs).
- On January 18, 2025, Weatherholt acquired 7,230 shares through the vesting of RSUs granted in 2022, 3,541 shares from RSUs granted in 2023, and 2,252 shares from RSUs granted in 2024.
- These RSUs were granted under the company's 2019 Equity Incentive Plan and vest in three equal annual installments.
- Additionally, 5,127 shares were disposed of to cover tax obligations related to the vesting of the RSUs at a price of $73.99 per share.
- Following these transactions, Weatherholt directly owns 169,524 ordinary shares and 4,503 RSUs.
Sentiment
Score: 7
Explanation: The document reflects routine executive compensation transactions, which are neither positive nor negative for the company's overall performance. The sentiment is neutral to slightly positive as it indicates the executive is receiving compensation as per the plan.
Industry Context
This is a routine filing related to executive compensation and is typical for publicly traded companies. It reflects the vesting schedule of equity-based compensation plans.
Comparison to Industry Standards
- The vesting schedule of three equal annual installments is a common practice in the industry for equity-based compensation.
- The tax withholding of shares upon vesting is also a standard procedure to cover the tax obligations of the employee.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the standard vesting of executive compensation.
- The tax withholding of shares may slightly reduce the number of shares outstanding.
Key Dates
| Date | Description |
|---|---|
| 01/18/2022 | Date of grant for the first tranche of RSUs that vested on 01/18/2025. |
| 01/18/2023 | Date of grant for the second tranche of RSUs that vested on 01/18/2025. |
| 01/18/2024 | Date of grant for the third tranche of RSUs that vested on 01/18/2025. |
| 01/18/2025 | Date of the reported transactions, including vesting of RSUs and tax withholding. |
| 01/22/2025 | Date the Form 4 was signed. |
Keywords
Weatherford International, Scott C. Weatherholt, restricted share units, RSU, share vesting, equity incentive plan, insider trading, Form 4
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