Current Report · Items 5.02 · 8-K
Helmerich & Payne, Inc.
HPNYSEEQUITYCurrent
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
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.…
Filed Sep 22, 2026Accepted Sep 22, 2026, 4:04 PM EDTCIK 46765Accession 0000046765-26-000051
Company context
Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. With operations in the most resilient basins throughout the world, H&P delivers the technology and engineering solutions to ensure a secure, affordable and sustainable energy future. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit www.helmerichpayne.com.
Current securities
Disclosure sections
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Item 5.02Item 5.02 - Departure/Election of Directors
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.