Richard D. Lynch - Feb 7, 2024 Form 4 Insider Report for HESS CORP (HES)

Role
Senior Vice President
Signature
Barry Schachter for Richard D. Lynch
Stock symbol
HES
Transactions as of
Feb 7, 2024
Transactions value $
-$259,037
Form type
4
Date filed
2/9/2024, 04:50 PM
Previous filing
Mar 8, 2023
Next filing
Mar 8, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HES Common Stock, $1.00 par value Options Exercise $0 +7.08K +29.97% $0.00 30.7K Feb 7, 2024 Direct F1
transaction HES Common Stock, $1.00 par value Tax liability -$259K -1.78K -5.81% $145.20 28.9K Feb 7, 2024 Direct F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction HES 2021 Performance Share Unit Options Exercise $0 -10.7K -100% $0.00* 0 Feb 7, 2024 Common Stock, $1.00 par value 7.08K $0.00 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of Hess Corporation common stock earned upon vesting of Performance Share Units granted on March 6, 2021, based on the relative performance of total shareholder return of Hess common stock compared with that of its peers over the three-year performance period ending December 31, 2023.
F2 Represents the withholding of shares to satisfy tax obligations on the vesting of shares of Hess Corporation common stock earned from Performance Share Units.
F3 This amount includes 6,510 shares held in escrow pursuant to the Corporation's Long Term Incentive Plans. The reporting person has only voting power of these shares until lapsing of the period set by the Committee administering the Plans at which time the shares plus accrued dividends will be delivered to the reporting person if the reporting person is still an employee of the Corporation.
F4 Each Performance Share Unit entitles the holder to a payout of shares of Hess common stock equal to between 0% and 200% of such Performance Share Unit depending on the relative performance of the total shareholder return of Hess common stock compared with that of its peers over a three year performance period ending December 31, 2023, as more particularly described in the applicable award agreement.