Summary
Baker Hughes Company (BKR) filed an 8-K on August 2, 2021, reporting an event on July 28, 2021, concerning executive compensation. The primary focus of this filing is the adjustment to the compensation of the Chief Financial Officer, Brian Worrell. Effective August 8, 2021, Mr. Worrell's annual base salary will increase to $1,000,000. Additionally, his target short-term incentive compensation opportunity has been raised to 125% of his base salary, retroactive to January 1, 2021.
Key Highlights
- 1Increase in CFO's annual base salary to $1,000,000, effective August 8, 2021.
- 2CFO's annual short-term incentive target compensation opportunity increased to 125% of base salary.
- 3The increase in short-term incentive target is retroactive to January 1, 2021.
- 4The compensation adjustments were approved by the compensation committee of the board of directors.
- 5This filing pertains specifically to executive compensation changes, not broader operational or financial performance updates.