Schlumberger Seeks Shareholder Nod for Official Name Change to SLB

Ticker: SLB · Form: DEF 14A · Filed: 2025-09-08T00:00:00.000Z

Sentiment: neutral

Topics: Corporate Governance, Name Change, Shareholder Meeting, Proxy Statement, Energy Services, Brand Identity, Legal Amendment

Related Tickers: SLB

TL;DR

**SLB is finally making its legal name match its brand, a smart move to solidify its modern identity in the energy tech space.**

AI Summary

Schlumberger N.V. (SLB) is proposing to amend its Articles of Incorporation to officially change its legal name to "SLB N.V." and permit the use of "SLB Limited" and "SLB Ltd." abroad, aligning with its 2022 rebranding initiative. The Board of Directors unanimously adopted this proposed amendment on July 17, 2025, subject to shareholder approval at a Special General Meeting on October 7, 2025, in Curaçao. The company also intends to retain the ability to use "Schlumberger Limited" abroad to protect its historic value and facilitate an orderly transition. As of July 31, 2025, there were 1,493,639,207 shares of common stock outstanding, with major beneficial owners including The Vanguard Group (10.1% or 150,305,453 shares) and BlackRock, Inc. (7.3% or 108,344,912 shares). The proposal requires a majority vote of outstanding shares entitled to vote, and brokers have discretion to vote on this routine matter. The amendment is expected to become effective as soon as practicable after shareholder approval.

Why It Matters

This name change formalizes Schlumberger's 2022 rebranding to SLB, signaling a strategic shift towards a modern identity in the competitive energy services sector. For investors, it clarifies the company's brand alignment and potentially enhances market perception, especially as the company emphasizes 'amazing technology that unlocks access to energy.' Employees will see their company's legal identity match its public face, fostering internal consistency. Customers and the broader market will experience a unified brand, reinforcing SLB's commitment to its evolved mission and potentially streamlining international operations with consistent naming conventions like "SLB Limited" and "SLB Ltd." This move helps SLB differentiate itself from traditional oilfield services companies.

Risk Assessment

Risk Level: low — The risk level is low because the proposal is a routine administrative matter to align the legal name with the existing brand, which was initiated in 2022. There are no financial or operational changes associated with this name amendment, and brokers have discretion to vote on this proposal, reducing the likelihood of it failing.

Analyst Insight

Investors should vote FOR the proposal to support the company's brand consistency and strategic evolution. This administrative change is unlikely to impact stock performance directly but reinforces SLB's modern identity, which could be a long-term positive.

Key Numbers

Key Players & Entities

FAQ

Why is Schlumberger Limited changing its name to SLB N.V.?

Schlumberger Limited is changing its name to SLB N.V. to align its legal name with its current brand identity, which was established in 2022. This change reflects the company's evolution over its nearly 100-year history and its commitment to technology for energy access.

When is the Special General Meeting for SLB's name change proposal?

The Special General Meeting for SLB's name change proposal is scheduled for Tuesday, October 7, 2025, at 9:00 a.m. Curaçao time. It will be held at Johan van Walbeeckplein 11, Willemstad, Curaçao.

What is the required vote for the SLB name change proposal?

The proposal to amend SLB's Articles of Incorporation requires a vote in favor by a majority of the company's shares outstanding and entitled to vote at the Special Meeting. This means more than 746,939,417 shares must vote 'FOR' the proposal.

Who are the largest beneficial owners of SLB common stock?

As of July 31, 2025, the largest beneficial owners of SLB common stock are The Vanguard Group, holding 10.1% (150,305,453 shares), BlackRock, Inc. with 7.3% (108,344,912 shares), State Street Corporation with 5.7% (84,804,647 shares), and T. Rowe Price Associates, Inc. with 5.5% (81,758,472 shares).

Will SLB still be able to use the name 'Schlumberger Limited' after the amendment?

Yes, the proposed amendment to SLB's Articles of Incorporation will retain the ability for the company to use the name 'Schlumberger Limited' abroad and in transactions with foreign entities, persons, or organizations. This is intended to protect the historic value of the original name and allow for an orderly transition.

What is the record date for voting at the SLB Special Meeting?

The record date for voting at the SLB Special General Meeting is September 3, 2025. Shareholders of record at the close of business on this date are entitled to one vote for each share registered in their name.

How many shares of SLB common stock were outstanding on the record date?

On the record date of September 3, 2025, there were 1,493,878,835 shares of SLB common stock outstanding and entitled to vote at the Special General Meeting.

What is the role of the Board of Directors in this name change for SLB?

SLB's Board of Directors unanimously adopted the proposed amendment to change the company's name on July 17, 2025, subject to shareholder approval. The Board recommends a vote FOR this proposal, emphasizing its alignment with the company's established brand identity.

What happens if a quorum is not present at the SLB Special Meeting?

If a quorum, defined as holders of at least one-half of the outstanding shares entitled to vote, is not present at the SLB Special Meeting, the Board may call a second special general meeting of shareholders. At this subsequent meeting, the quorum requirement will not apply.

How can beneficial owners of SLB common stock cast their vote?

Beneficial owners of SLB common stock, whose shares are held in 'street name' through a broker, bank, or other nominee, must follow the instructions provided by their respective institution. They can typically direct their vote by internet or telephone as per the voting instruction form received.

Industry Context

Schlumberger N.V. (SLB) operates in the oilfield services sector, a highly competitive industry characterized by significant capital expenditure requirements and cyclical demand tied to energy prices. Key competitors include Halliburton and Baker Hughes. The industry is undergoing a transition towards digital solutions and energy transition technologies, influencing service offerings and investment strategies.

Regulatory Implications

The proposed name change is primarily a corporate governance and branding matter, with minimal direct regulatory implications beyond the necessary filings with corporate registries in its jurisdictions of operation. However, maintaining brand consistency and avoiding confusion with other entities will be crucial for ongoing compliance and market perception.

What Investors Should Do

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Key Dates

Glossary

DEF 14A
A proxy statement filing required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies when soliciting shareholder votes. (This document contains the details of the proposed name change and the information shareholders need to make an informed voting decision.)
Articles of Incorporation
The foundational legal document that establishes a corporation and outlines its basic structure, purpose, and powers. (The proposed amendment directly alters these articles to reflect the company's new legal name.)
Beneficial Ownership
The actual right to receive income or benefit from a security, or the power to direct its disposition, even if the security is registered in another name. (Used to identify major shareholders and management's holdings, as detailed in the Security Ownership table.)
Proxy Solicitation
The process by which a company requests shareholders to grant authority to vote their shares in a specific way, often for proposals at a shareholder meeting. (The company is soliciting votes for the name change proposal, and D.F. King & Co., Inc. is assisting with this process.)
Restricted Stock Units (RSUs)
A form of equity compensation that grants employees shares of stock after a vesting period. (Included in the calculation of beneficial ownership for management, indicating potential future shareholdings.)
Performance Share Units (PSUs)
Equity awards that vest based on the achievement of specific company performance goals. (Also included in beneficial ownership calculations for management, reflecting performance-based compensation.)

Year-Over-Year Comparison

This filing is focused on a specific corporate action – the legal name change – rather than a comprehensive financial review. Therefore, direct year-over-year comparisons of financial metrics like revenue growth or margins are not applicable to this particular DEF 14A. The key information relates to the proposed amendment, shareholder voting procedures, and management/director stock ownership as of July 31, 2025.

Filing Stats: 4,779 words · 19 min read · ~16 pages · Grade level 12.4 · Accepted 2025-09-08 07:00:26

Key Financial Figures

Filing Documents

Security Ownership by Management and Our Board

Security Ownership by Management and Our Board The following table sets forth information as of July 31, 2025 regarding the beneficial ownership of SLB common stock by each director, each named executive officer, and all SLB directors and executive officers as a group. Beneficial Ownership of SLB Common Stock Name Number of Shares (1) Percentage of Class (2) Stephane Biguet 242,137 (3) <1% Peter Coleman 24,171 <1% Patrick de La Chevardire 23,525 <1% Miguel Galuccio 48,225 <1% Jim Hackett 20,966 <1% Olivier Le Peuch 1,388,470 (4) <1% Samuel Leupold 25,708 <1% Abdellah Merad 239,371 (5) <1% Maria Morus Hanssen 31,588 <1% Vanitha Narayanan 17,260 <1% Dianne Ralston 241,928 <1% Jeff Sheets 39,025 <1% Khaled Al Mogharbel (former executive officer) 256,177 (6) <1% All directors and executive officers as a group (23 persons) 3,353,390 (7) <1% (1) Beneficial ownership is determined under the rules of the SEC and generally includes voting or investment power with respect to securities. Except as indicated in the below footnotes and subject to applicable community property laws, to our knowledge the persons named in this table have sole voting and investment power with respect to the securities listed. None of the shares are subject to any pledge. The number of shares beneficially owned includes shares of SLB common stock that the individual or group has the right to acquire within 60 days of July 31, 2025, including exercisable options to purchase SLB common stock, as well as restricted stock units and performance share units that will vest within 60 days. (2) Percentage ownership is calculated based on the 1,493,639,207 shares of our common stock outstanding on July 31, 2025. (3) Includes options to purchase 28,000 SLB shares. (4) Includes options to purchase 45,000 SLB shares. (5) Includes options to purchase 20,000 SLB shares. (6) Includes options to purchase 114,000 SLB shares. (7) In

Security Ownership by Certain Beneficial Owners

Security Ownership by Certain Beneficial Owners The following table sets forth information for the persons known by us to be the beneficial owners of more than 5% of our common stock, based solely on the information reported by such persons in their most recent Schedule 13D and 13G filings with the SEC. For each entity included in the table below, percentage ownership is calculated by dividing the number of shares reported as beneficially owned by such entity by the 1,493,639,207 shares of our common stock outstanding on July 31, 2025. Beneficial Ownership of SLB Common Stock Name and Address Number of Shares Percentage of Class The Vanguard Group (1) 100 Vanguard Blvd. Malvern, PA 19355 150,305,453 10.1% BlackRock, Inc. (2) 55 East 52nd Street New York, NY 10055 108,344,912 7.3% State Street Corporation (3) State Street Financial Center One Lincoln Street Boston, MA 02111 84,804,647 5.7% T. Rowe Price Associates, Inc. (4) 1307 Point Street Baltimore, MD 21231 81,758,472 5.5% (1) Based solely on a Statement on Schedule 13G/A filed on July 29, 2025. This filing indicates that The Vanguard Group has shared voting power with respect to 1,703,855 shares, sole investment power with respect to 143,610,854 shares and shared investment power with respect to 6,694,599 shares. (2) Based solely on a Statement on Schedule 13G/A filed on February 6, 2024. This filing indicates that BlackRock, Inc. has sole voting power with respect to 98,480,988 shares and sole investment power with respect to 108,344,912 shares. (3) Based solely on a Statement on Schedule 13G/A filed on January 30, 2024. This filing indicates that State Street Corporation has shared voting power with respect to 60,557,091 shares and shared investment power with respect to 84,755,731 shares. (4) Based solely on a Statement on Schedule 13G/A filed on August 14, 2025. This filing indicates that T. Rowe Price Associates, Inc. has sole voting power

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