Summary
This 8-K/A filing from SLB LIMITED/NV (SLB) serves as an amendment to a previous report, primarily detailing the finalized compensation for Olivier Le Peuch following his appointment as Chief Operating Officer (COO) effective February 6, 2019. The Compensation Committee of the Board officially set his annual base salary at $1,000,000 and confirmed his annual cash incentive target at 100% of base salary. Mr. Le Peuch will also continue to be eligible for the company's long-term incentive program. For investors, this filing provides clarity on the remuneration package for a key executive. While the appointment itself was announced earlier, this amendment solidifies the financial terms, offering a transparent view of executive compensation. The substantial base salary and incentive targets are indicative of the responsibilities associated with the COO role in a major oilfield services company.
Key Highlights
- 1Amendment to a previous 8-K filing dated February 8, 2019.
- 2Finalization of compensation for Olivier Le Peuch upon his appointment as Chief Operating Officer.
- 3Effective date of appointment as COO: February 6, 2019.
- 4Annual base salary for the COO set at $1,000,000.
- 5Annual cash incentive target for the COO is 100% of base salary.
- 6COO remains eligible for the company's long-term incentive program.