Halliburton Names Hunt Consolidated President David Hernandez To Board, Fills Vacancy On 12-Seat Panel
Hernandez joins the Audit and Health, Safety and Environment committees and gets 961 restricted stock units.
Halliburton's board appointed David C. Hernandez as a director on Thursday to fill a vacancy, an 8-K filed that day says. The board stays at 12 directors, and Hernandez is president of Hunt Consolidated.
What the 8-K says
The board put Hernandez on the Audit Committee and the Health, Safety and Environment Committee. It found him independent under New York Stock Exchange listing standards and the company's governance guidelines, and designated him an "audit committee financial expert" under SEC rules.
To make room on the Audit Committee, the board moved Timothy A. Leach off it and onto the Compensation Committee.
Hernandez will receive an initial grant of 961 restricted stock units, each a right to receive one Halliburton share later. The grant is a prorated share of the $200,000 annual equity award given to non-management directors. The filing says the count comes from dividing the prorated amount by the average closing price in the month before he joined.
Halliburton also signed an indemnification agreement with him on Thursday, covering expenses to the extent applicable law permits. The filing says no arrangement or understanding with any other person led to his selection, and no transaction requires disclosure under Item 404(a) of Regulation S-K.
Who he is and what the board said
According to the filing, Hernandez has been president of Hunt Consolidated since 2025 and also during 2019-2022. He was its chairman and managing director in 2023-2024. Earlier he was vice president of tax at Electronic Data Systems.
The press release describes Hunt Consolidated as a multinational enterprise spanning oil and gas exploration and production, LNG, refining, power, real estate, ranching and energy technology. It says Hernandez has spent more than 18 years with the Hunt family of companies. He holds a law degree from the University of Chicago and a finance degree from the University of Virginia.
Chairman, President and CEO Jeff Miller said the appointment reflects "our ongoing focus on thoughtful board succession and refreshment." He added that with Tim Leach, Janet Weiss and now Hernandez, the board has strengthened its "deep oil and gas expertise."
Shares closed at $32.89 on Thursday and were unchanged in after-hours trading that day.
What to watch
Hernandez serves until Halliburton's 2027 annual meeting of shareholders, and faces annual shareholder election after that.
Hernandez's first test with shareholders comes at the 2027 annual meeting.
Sources
- 8-K Filing — HALLIBURTON CO (HAL) — SEC EDGAR
- Exhibit pressreleaseofhalliburto.htm — HALLIBURTON CO 8-K exhibit — SEC EDGAR
