Baker Hughes EVP Neil Saunders to depart Jan 31, 2023; settlement agreement signed

Baker Hughes Co

Neil Saunders, EVP – Oilfield Equipment, will depart company as part of restructuring announced Sept 6, 2022.
Settlement Agreement dated Dec 20, 2022; employment ends Jan 31, 2023, with transition assistance.
Saunders receives base salary, annual incentive, and benefits through termination date; equity awards per LTIP plans.
Severance consistent with Executive Severance Program (involuntary termination) plus $15,000 for loss of benefits.
Unvested RSUs granted Jan 2022 will vest; confidentiality and cooperation obligations affirmed.

item 5.02

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Departed

Neil Saunders

Executive Vice President – Oilfield Equipment

BKR · Baker Hughes Co

Effective: 2023-01-31
Filed: December 23, 2022, 6:59 PM ET

As previously disclosed by Baker Hughes Company (the “Company”), on September 6, 2022, as a result of the restructuring and simplifying of its organizational structure, Neil Saunders, Executive Vice President – Oilfield Equipment, will be departing the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Neil Saunders departed as Executive Vice President – Oilfield Equipment at Baker Hughes Co.

Action: departing
Role: Executive Vice President – Oilfield Equipment

Exact text from the filing

As previously disclosed by Baker Hughes Company (the “Company”), on September 6, 2022, as a result of the restructuring and simplifying of its organizational structure, Neil Saunders, Executive Vice President – Oilfield Equipment, will be departing the Company.

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Source: SEC EDGAR

accession 0000950103-22-021390

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