Simonelli Lorenzo 4
4 · Baker Hughes Co · Filed Mar 6, 2026
Research Summary
AI-generated summary of this filing
Baker Hughes CEO Lorenzo Simonelli Sells Shares After Option Exercise
What Happened
Lorenzo Simonelli, Chairman, President and CEO of Baker Hughes (BKR), exercised 187,343 stock options (reported as "M" transactions) and then sold 272,593 shares in an open‑market transaction on March 4, 2026. The exercise recorded an acquisition value of $6,688,145 (exercise price $35.70 per share). The open‑market sale generated proceeds of approximately $16,663,610 at a weighted average price of $61.13.
Key Details
- Transaction date: March 4, 2026.
- Options exercised: 187,343 shares at $35.70 (total exercise cost shown as $6,688,145). (Code M)
- Shares sold: 272,593 shares in open market at weighted avg $61.13, proceeds ≈ $16,663,610. (Code S)
- Weighted sale price range: $60.54 to $62.28 (footnote F2).
- Filing notes: Sale was made pursuant to a Rule 10b5‑1 trading plan adopted Nov 10, 2025 (footnote F1).
- Option origin: Grant dated Aug 1, 2017; vested in three equal annual installments beginning Aug 1, 2018 (footnote F3).
- Shares owned after transaction: not specified in the provided excerpt.
- No late‑filing indication provided in the supplied data.
Context
The filing shows an option exercise combined with an open‑market sale. That pattern is commonly a cashless exercise or exercise followed by selling some or all shares, often to cover taxes or diversify—this form is factual and does not imply motivation. The sale was executed under a pre‑arranged 10b5‑1 plan, which establishes trading parameters in advance and is routinely used by executives to comply with insider trading rules.
Insider Transaction Report
- Exercise/Conversion
Class A Common Stock
[F1]2026-03-04$35.70/sh+187,343$6,688,145→ 945,403 total - Sale
Class A Common Stock
[F1][F2]2026-03-04$61.13/sh−272,593$16,663,610→ 672,810 total - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F3]2026-03-04−187,343→ 187,344 totalExercise: $35.70Exp: 2027-08-01→ Class A Common Stock (187,343 underlying)
Footnotes (3)
- [F1]This transaction is pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 10, 2025.
- [F2]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $60.54 to $62.28, inclusive. Details on the number of shares sold at each separate price will be provided to the Issuer, any shareholder of the Issuer, or staff of the Securities and Exchange Commission upon request.
- [F3]The stock option was granted on August 1, 2017 and vested in three equal annual installments beginning one year from the date of grant.