01—Abstract
Summary
Summary of the 8-K filed April 8, 2025. Cited figures are marked; the original filing is the authoritative source.
SLB Limited/NV (SLB) announced that Executive Vice President, Geographies, Khaled Al Mogharbel will step down from his executive role effective May 1, 2025, concluding a distinguished 30-year tenure with the company.
This departure marks a leadership transition within a key operational segment of the company. Mr. Al Mogharbel's contributions to safety, technology, and customer focus have been acknowledged as having a significant and lasting impact on SLB. In connection with his departure, Mr. Al Mogharbel has entered into an agreement to serve as an Advisor to the CEO until May 1, 2028.
This advisory role is designed to ensure an orderly transition of the Geographies organization and operations. The agreement includes standard restrictive covenants such as non-competition, non-solicitation, confidentiality, and non-disparagement. In return for his advisory services and these covenants, Mr. Al Mogharbel will receive a package including an annual cash payment, continued benefits, pension accruals, and a prorated 2025 cash incentive, with his existing long-term equity awards continuing to vest as scheduled.
02—Key points
Key Highlights
- Khaled Al Mogharbel, EVP, Geographies, will step down from his executive role effective May 1, 2025.
- Mr. Al Mogharbel will transition to an Advisor role to the CEO, assisting with the Geographies transition until May 1, 2028.
- The advisory agreement includes a three-year term, subject to Mr. Al Mogharbel adhering to non-competition, non-solicitation, confidentiality, and non-disparagement clauses.
- Compensation for his advisory role includes an annual cash payment (75% of current base salary), continued health benefits, pension and savings plan accruals.
- Existing outstanding long-term equity incentive awards for Mr. Al Mogharbel will continue to vest per their original terms.
- SLB has outlined consequences for breaches of the agreement, including cessation of payments, cancellation of equity awards, and potential repayment of past consideration.
03—Questions
Frequently Asked Questions
What is the significance of Khaled Al Mogharbel stepping down?
Khaled Al Mogharbel is the Executive Vice President of Geographies, a significant operational segment for SLB. His departure from this executive role signifies a leadership change within this important area of the company. However, his continued advisory role is intended to ensure a smooth transition and continuity.
What are the terms of Mr. Al Mogharbel's advisory role and compensation?
Mr. Al Mogharbel will serve as an Advisor to the CEO for three years (until May 1, 2028) to aid in the transition of the Geographies organization. He will receive an annual cash payment equivalent to 75% of his base salary, continue to participate in health plans, accrue benefits in pension and savings plans, and receive a prorated 2025 incentive award. His existing long-term equity awards will continue to vest.
What are the restrictive covenants Mr. Al Mogharbel has agreed to?
Mr. Al Mogharbel has agreed to standard restrictive covenants for a period of three years, which include non-competition, non-solicitation of employees and customers, confidentiality, and non-disparagement of SLB.
What happens if Mr. Al Mogharbel breaches the agreement?
If Mr. Al Mogharbel breaches the terms of the agreement, SLB has the right to immediately cease all cash payments, cancel any unvested equity awards, and may seek repayment of any consideration already paid or vested under the agreement.
04—Continue