Halliburton CEO trims stake again with $1 million gift

By @ibtimes on

Halliburton Co Chief Executive David Lesar has just made a gift of $1 million worth of shares in the company, according to a regulatory filing on Friday, rounding out a year in which he reduced his stake by a third.

Lesar reported a bona fide gift of 30,300 shares, worth $1.02 million on Wednesday when it was made, bringing his interest in the U.S. oilfield services company down to 763,436 shares from nearly 1.17 million at the start of December 2010.

Much of that reduction has been done with his wife. In November 2010, as part of what the company said was Lesar's estate planning, he transferred $7 million of shares to her, which were then sold in February at a $2.6 million profit.

That was followed by another 53,209 shares transferred the next month, which she sold in April at an average price of $50.45 per share, according to filings with the Securities and Exchange Commission.

Halliburton shares were 0.4 percent higher at $33.69 in afternoon trading on Friday.

Lesar, listed as 57 years old on the company's website, has been CEO since 2000. A spokeswoman did not immediately respond to request for comment on the latest share transaction.

(Reporting by Braden Reddall in San Francisco; Editing by Steve Orlofsky)

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