Schlumberger Limited/NV Files Definitive Proxy Statement

Ticker: SLB · Form: DEF 14A · Filed: Feb 22, 2024 · CIK: 87347

Schlumberger Limited/NV DEF 14A Filing Summary
FieldDetail
CompanySchlumberger Limited/NV (SLB)
Form TypeDEF 14A
Filed DateFeb 22, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$2.0 billion, $2.5 billion, $1 billion, $2 billion, $8.107 billion
Sentimentneutral

Sentiment: neutral

Topics: Schlumberger, DEF 14A, Proxy Statement, Executive Compensation, Corporate Governance

TL;DR

<b>Schlumberger Limited/NV has filed its Definitive Proxy Statement (DEF 14A) for the reporting period covering fiscal years 2020 through 2023.</b>

AI Summary

SCHLUMBERGER LIMITED/NV (SLB) filed a Proxy Statement (DEF 14A) with the SEC on February 22, 2024. Filing type is DEF 14A, filed on 2024-02-22. Reporting period covers fiscal years 2020-2023. Company name is SCHLUMBERGER LIMITED/NV, Central Index Key 0000087347. Business and mailing address is 5599 SAN FELIPE STREET, 17TH FLOOR, HOUSTON, TX 77056. Phone number is 7135132000.

Why It Matters

For investors and stakeholders tracking SCHLUMBERGER LIMITED/NV, this filing contains several important signals. This filing provides detailed information regarding executive compensation, board of directors, and shareholder proposals, which are crucial for investors to understand governance and compensation practices. As a DEF 14A filing, it signifies the company is preparing for its annual shareholder meeting, where key decisions affecting the company's future will be voted upon.

Risk Assessment

Risk Level: low — SCHLUMBERGER LIMITED/NV shows low risk based on this filing. The filing is a routine proxy statement (DEF 14A) and does not contain new financial performance data or significant strategic shifts, indicating a low level of immediate risk.

Analyst Insight

Investors should review the executive compensation and board member details within this filing to assess governance and alignment with shareholder interests.

Key Numbers

  • 2024-02-22 — Filing Date (DEF 14A filing date)
  • 20240403 — Report Date (Conformed period of report)
  • 0000087347 — Central Index Key (Schlumberger Limited/NV's CIC)
  • 124 — Public Document Count (Number of documents in the filing)
  • 2023-12-31 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

  • SCHLUMBERGER LIMITED/NV (company) — Filer name
  • 0000087347 (company) — Central Index Key
  • DEF 14A (regulator) — Form type
  • 2024-02-22 (date) — Filing date
  • 5599 SAN FELIPE STREET (company) — Business address
  • HOUSTON (company) — Business address city
  • TX (company) — Business address state
  • 77056 (company) — Business address zip

FAQ

When did SCHLUMBERGER LIMITED/NV file this DEF 14A?

SCHLUMBERGER LIMITED/NV filed this Proxy Statement (DEF 14A) with the SEC on February 22, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by SCHLUMBERGER LIMITED/NV (SLB).

Where can I read the original DEF 14A filing from SCHLUMBERGER LIMITED/NV?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by SCHLUMBERGER LIMITED/NV.

What are the key takeaways from SCHLUMBERGER LIMITED/NV's DEF 14A?

SCHLUMBERGER LIMITED/NV filed this DEF 14A on February 22, 2024. Key takeaways: Filing type is DEF 14A, filed on 2024-02-22.. Reporting period covers fiscal years 2020-2023.. Company name is SCHLUMBERGER LIMITED/NV, Central Index Key 0000087347..

Is SCHLUMBERGER LIMITED/NV a risky investment based on this filing?

Based on this DEF 14A, SCHLUMBERGER LIMITED/NV presents a relatively low-risk profile. The filing is a routine proxy statement (DEF 14A) and does not contain new financial performance data or significant strategic shifts, indicating a low level of immediate risk.

What should investors do after reading SCHLUMBERGER LIMITED/NV's DEF 14A?

Investors should review the executive compensation and board member details within this filing to assess governance and alignment with shareholder interests. The overall sentiment from this filing is neutral.

How does SCHLUMBERGER LIMITED/NV compare to its industry peers?

Schlumberger operates in the oil and gas field services industry, providing technology and services to the energy sector.

Are there regulatory concerns for SCHLUMBERGER LIMITED/NV?

The filing is a DEF 14A, a standard SEC filing required for public companies soliciting proxies for shareholder meetings.

Industry Context

Schlumberger operates in the oil and gas field services industry, providing technology and services to the energy sector.

Regulatory Implications

The filing is a DEF 14A, a standard SEC filing required for public companies soliciting proxies for shareholder meetings.

What Investors Should Do

  1. Review executive compensation details for key personnel.
  2. Analyze board member qualifications and independence.
  3. Examine any shareholder proposals and management's recommendations.

Key Dates

  • 2024-02-22: Filing Date — Date the DEF 14A was filed with the SEC.
  • 2024-04-03: Period of Report — The period for which the proxy statement is reporting.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a routine disclosure for proxy solicitations and does not represent a change from previous filings of the same type.

Filing Stats: 4,478 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2024-02-22 11:06:23

Key Financial Figures

  • $2.0 billion — nal cash flow. As a result, we returned $2.0 billion to shareholders in 2023 through dividen
  • $2.5 billion — 2024, as we target to return more than $2.5 billion to shareholders in 2024. During the ye
  • $1 billion — hnologies portfolio generated more than $1 billion of revenue in 2023, as SLB continues to
  • $2 billion — g growth momentum, delivering more than $2 billion in revenue in 2023. Our success in Digi
  • $8.107 billion — of 151% of target. Adjusted EBITDA + — $8.107 billion — Our 2023 adjusted EBITDA of $8.107 bi
  • $4.038 billion — the target payout. Free Cash Flow + — $4.038 billion — Our 2023 free cash flow of $4.038 bil

Filing Documents

Election of Directors

Item 1. Election of Directors 12 Skills and Experience of Our Director Nominees 12 Corporate Governance 19 New Independent Chair 19 Leadership Structure 19 New SLB Code of Conduct Launched in 2023 19 Effective Board Oversight of Risk Management 20 Proactive Shareholder Engagement 22 Director Selection and Qualifications 22 Comprehensive Director Orientation and Education 23 Rigorous Evaluation Processes 24 Board Committees 24 Meeting Attendance 25 Director Independence 25 Corporate Governance Guidelines 26 Certain Relationships and Related Person Transactions 26 Compensation Committee Interlocks and Insider Participation 26 How to Communicate with Our Board 26 Director Compensation 27 Stock Ownership Information 29

Advisory Approval of Our Executive Compensation

ITEM 2. Advisory Approval of Our Executive Compensation 31 Compensation Committee Report 31 Compensation Discussion and Analysis 32 2023 Compensation Decisions and Results 33 Framework for Setting 2023 Executive Compensation 34 Elements of 2023 Total Compensation 36 Other Aspects of Our Executive Compensation Program 46

Executive Compensation Governance

Executive Compensation Governance 48

Executive Compensation Tables

Executive Compensation Tables 50 Summary Compensation Table 50 Grants of Plan-Based Awards in 2023 51 Outstanding Equity Awards at Year-End 2023 52 Option Exercises and Stock Vested in 2023 53 Pension Benefits 54 Nonqualified Deferred Compensation 55 Potential Payments Upon Termination or Change in Control 57 Equity Compensation Plan Information 59 CEO Pay Ratio 59 Pay vs. Performance Comparison 60

Approval of Financial Statements and Dividends

ITEM 3. Approval of Financial Statements and Dividends 63

Ratification of Appointment of Independent Auditors for 2024

ITEM 4. Ratification of Appointment of Independent Auditors for 2024 64 Audit Committee Report 65 Information About the Meeting 66 Appendix A A-1 2024 Proxy Statement 5 Back to Contents Proxy Summary This summary highlights information contained elsewhere in this proxy statement. This summary does not contain all of the information you should consider, and you should carefully review this entire proxy statement and our 2023 Annual Report before voting. Voting at the 2024 Annual General Meeting The 2024 Annual General Meeting of Shareholders (the 2024 AGM ) will be held at: Meeting Date: Wednesday, April 3, 2024 Place: Curaao Marriott Beach Resort John F Kennedy Boulevard, 3, Piscadera Bay Willemstad, Curaao Time: 9:00 a.m. Curaao time Record Date: February 7, 2024 Each shareholder of record at the close of business on February 7, 2024 (the record date ) is entitled to one vote for each share registered in that shareholder's name. If your shares are registered in your name with SLB's transfer agent, you may vote in person at the 2024 AGM, or you may authorize a proxy to vote your shares by one of the following methods: By Internet www.proxypush.com/SLB By Telephone (866) 240-5191 By Mail Sign, date, and mail your proxy card If you are a "beneficial" owner of SLB common stock—which means you held your shares on the record date through a broker, bank, or other nominee—you should follow the voting instructions provided by your bank, broker, or nominee. If you plan to attend the 2024 AGM in person, see "Information About the Meeting" beginning on page 66 for the requirements for admission to the meeting. Whether or not you plan to attend the 2024 AGM in person, please sign, date, and promptly return your proxy card by mail, or alternatively please grant a proxy and give voting instructions by telephone or internet, so that you may be represented at the meeting. Voting Matters Item Our Board's Recommendation Vote Requ

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