Simonelli Lorenzo 4

What Happened
Lorenzo Simonelli, Baker Hughes chairman, president and CEO, exercised 187,344 stock options (strike $35.70) on March 11, 2026, at a cost of $6,688,181 and, on the same day, sold 272,594 shares on the open market for a weighted total of about $16,025,801. The Form 4 also reports the 187,344 exercised shares as disposed at $0.00 (reported as a derivative disposition).

Key Details

• Transaction date: 2026-03-11; Form 4 filed 2026-03-13 (filed two days after the trades). This appears to be timely.
• Exercise: 187,344 shares at $35.70 — total cash paid $6,688,181 (code M).
• Open-market sale: 272,594 shares at a weighted average price $58.79 — total proceeds ~$16,025,801 (code S). Sales executed at prices ranging $57.95–$59.40 (weighted avg reported).
• The exercised 187,344 shares are also listed as disposed at $0.00 (derivative line) in the filing; the form does not itemize why (e.g., net settlement, withholding, or transfer).
• Footnotes: sale was made pursuant to a Rule 10b5‑1 trading plan adopted Nov 10, 2025 (F1). The underlying option was granted Aug 1, 2017 and vested in three equal annual installments beginning one year after grant (F3).
• Shares owned after the reported transactions are not specified in the provided filing.

Context
This sequence (exercise of options followed by share sales) is common for executives exercising vested options and converting value to cash. The presence of a 10b5‑1 plan indicates the sales were pre‑arranged; the filing is factual and does not state motivations.