Company: BKR
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001701605-25-000075
Chunk: 94

Company: Baker Hughes Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 8
Chunk 94
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,724 March 1-31, 20254,362,192 $42.36 3,878,338 $1,544,953,174 Total6,478,326 $43.30 4,405,558 

(1)Represents Class A common stock purchased from employees to satisfy the tax withholding obligations primarily in connection with the vesting of restricted stock units.

(2)Average price paid for Class A common stock purchased from employees to satisfy the tax withholding obligations in connection with the vesting of restricted stock units and shares purchased in the open market under our publicly announced purchase program.

(3)On July 30, 2021, our Board of Directors authorized the Company to repurchase up to $2 billion of its Class A common stock. On October 27, 2022, our Board of Directors authorized an increase to our repurchase program of $2 billion of additional Class A common stock, increasing its existing repurchase authorization of $2 billion to $4 billion. The repurchase program may be suspended or discontinued at any time and does not have a specified expiration date.

(4)During the three months ended March 31, 2025, we repurchased 4.4 million shares of Class A common stock at an average price of $42.69 per share for a total of $188 million.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Our barite mining operations, in support of our OFSE segment, are subject to regulation by the Federal Mine Safety and Health Administration under the Federal Mine Safety and Health Act of 1977. Information concerning mine safety violations or other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K is included in Exhibit 95 to this Quarterly Report.

Baker Hughes Company 2025 First Quarter Form 10-Q | 33

ITEM 5. OTHER INFORMATION

Director Nominee Update

Dr. Ilham Kadri informed our Board of Directors (the "Board") on April 21, 2025 that, in light of the heightened commitments associated with her executive responsibilities amid the current macroeconomic climate, she has decided to withdraw her acceptance of her appointment to the Board. The Board initially appointed Dr. Kadri to serve as a director on the Board on March 28,