8-KLeadership Changes

SLB LIMITED/NV 8-K Report, Executive Changes (Oct 19, 2020)

Filed October 19, 2020For Securities:SLB

Summary

SLB Limited/NV (SLB) has announced the appointment of Ms. Maria Moræus Hanssen as a new director to its Board of Directors, effective October 15, 2020. This addition to the Board is a significant governance update that investors should note. Ms. Moræus Hanssen will serve until the next annual general meeting, subject to stockholder election. Her committee assignments are yet to be determined and will be disclosed in a subsequent filing. Ms. Moræus Hanssen will be compensated under the company's existing non-employee director compensation plan, with eligibility for a pro-rated amount for fiscal year 2020. She is also expected to enter into the company's standard director indemnity agreement. Importantly, the company has stated that Ms. Moræus Hanssen and her immediate family do not have any material interest in any transactions requiring disclosure under Regulation S-K.

Key Highlights

  • 1Appointment of Ms. Maria Moræus Hanssen as a new director to the Board, effective October 15, 2020.
  • 2Ms. Moræus Hanssen's tenure as a director will extend until the next annual general meeting, pending stockholder approval.
  • 3Committee assignments for Ms. Moræus Hanssen are pending and will be disclosed in an amended filing.
  • 4Ms. Moræus Hanssen will receive compensation consistent with SLB's non-employee director compensation arrangements.
  • 5She will be eligible for a pro-rated portion of the director compensation for fiscal year 2020.
  • 6Ms. Moræus Hanssen is expected to enter into the company's standard director indemnity agreement.
  • 7No material interest in reportable transactions has been identified for Ms. Moræus Hanssen or her immediate family.

Frequently Asked Questions

Ms. Maria Moræus Hanssen has been appointed as a new director to the Board of Directors of SLB Limited/NV. She will serve in this capacity until the company's next annual general meeting, at which point she will be subject to election by the stockholders.

The Board of Directors expects to appoint Ms. Moræus Hanssen to one or more committees at a later date. The specific committee assignments have not yet been determined and will be disclosed in an amendment to this report once they become available.

Ms. Moræus Hanssen will participate in SLB's existing non-employee director compensation arrangements and will receive a pro-rated portion of the compensation for fiscal year 2020. She is also expected to sign the company's standard director indemnity agreement.

The company has stated that neither Ms. Moræus Hanssen nor any of her immediate family members have any material interest in any transactions that would require disclosure under Item 404(a) of Regulation S-K, indicating no apparent conflicts of interest.