H&P - Helmerich & Payne Inc.
09/22/2026 | Press release | Distributed by Public on 09/22/2026 14:05
Management Change/Compensation (Form 8-K)
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On September 16, 2026, the Board of Directors (the "Board") of Helmerich & Payne, Inc. (the "Company") ratified the following increases to the annual compensation of Raymond John "Trey" Adams III, the Company's President and Chief Executive Officer, that were approved by the Human Resources Committee of the Board (the "Committee"): (i) effective as of October 1, 2026, Mr. Adams' annual base salary will be increased to $1,000,000; (ii) his target bonus under the Company's annual short-term cash incentive bonus plan will be increased to 130% of base salary for fiscal 2027; and (iii) his target annual long-term equity incentive award will be increased to 500% of base salary for fiscal 2027.
The Board also ratified the following increases to the annual compensation of Todd Scruggs, the Company's Senior Vice President and Chief Financial Officer, that were approved by the Committee: (i) effective as of October 1, 2026, Mr. Scruggs' annual base salary will be increased to $570,000; and (ii) his target bonus under the Company's annual short-term cash incentive bonus plan will be increased to 100% of base salary for fiscal 2027.
H&P - Helmerich & Payne Inc. published this content on September 22, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on September 22, 2026 at 20:05 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]