AI English summary of an SEC filing — figures as filed
SLB SLBSLB said Khaled Al Mogharbel indicated on April 7, 2025 that he will step down as Executive Vice President, Geographies, effective May 1, 2025. The company said he had a 30-year career with SLB.
Key points
AI summarySLB said Khaled Al Mogharbel indicated on April 7, 2025 that he will step down as Executive Vice President, Geographies, effective May 1, 2025. The company said he had a 30-year career with SLB.
SLB said Al Mogharbel entered into an agreement to serve as Advisor to SLB's Chief Executive Officer through May 1, 2028, to help foster an orderly transition of the Geographies organization and operations.
In exchange for his advisory services, the restrictive covenants and the waiver and release of claims, he will receive, for 3 years, an annual cash payment equal to 75% of his current base salary, continued participation in SLB's health, welfare and insurance plans, continued benefit accruals under SLB's pension and savings plans, and a 2025 cash incentive award prorated for the period worked, to be paid at target, the company said. It added that his outstanding long-term equity incentive awards will continue to vest under the terms of those grants.
SLB said Al Mogharbel agreed to 3-year non-competition and non-solicitation covenants of customers and employees, as well as confidentiality and non-disparagement undertakings. The company said that if the undertakings are breached, it may immediately stop all cash payments otherwise due, cancel all outstanding equity awards, and require repayment of consideration previously paid or vested.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Executive Vice President, Geographies Departure and Effective Date
SLB said Khaled Al Mogharbel indicated on April 7, 2025 that he will step down as Executive Vice President, Geographies, effective May 1, 2025. The company said he had a 30-year career with SLB.
Source · Based on the filing body and exhibits
Advisor Agreement Through May 1, 2028
SLB said Al Mogharbel entered into an agreement to serve as Advisor to SLB's Chief Executive Officer through May 1, 2028, to help foster an orderly transition of the Geographies organization and operations.
Source · Based on the filing body and exhibits
Compensation Terms for 3-Year Advisory Period
In exchange for his advisory services, the restrictive covenants and the waiver and release of claims, he will receive, for 3 years, an annual cash payment equal to 75% of his current base salary, continued participation in SLB's health, welfare and insurance plans, continued benefit accruals under SLB's pension and savings plans, and a 2025 cash incentive award prorated for the period worked, to be paid at target, the company said. It added that his outstanding long-term equity incentive awards will continue to vest under the terms of those grants.
Source · Based on the filing body and exhibits
Restrictive Covenants and Actions on Breach
SLB said Al Mogharbel agreed to 3-year non-competition and non-solicitation covenants of customers and employees, as well as confidentiality and non-disparagement undertakings. The company said that if the undertakings are breached, it may immediately stop all cash payments otherwise due, cancel all outstanding equity awards, and require repayment of consideration previously paid or vested.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
Loading the filing text…