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AI brief of an SEC Form 8-K · Helmerich & Payne (HP)

Helmerich & Payne raises CEO Adams' base salary to $1 million, boosts CFO Scruggs pay

Neutral Impact 3 of 5 leadership Written later

Helmerich & Payne's board ratified pay increases for CEO Trey Adams and CFO Todd Scruggs, effective October 1, 2026. Adams' base salary rises to $1,000,000 and Scruggs' to $570,000, with higher target bonus and equity award levels for fiscal 2027. The changes raise executive pay costs, but the filing discloses no financial results or performance effects.

Key points

  • CEO Trey Adams' base salary increases to $1,000,000 effective October 1, 2026
  • Adams' target bonus rises to 130% of base salary and target long-term equity award to 500% of base salary for fiscal 2027
  • CFO Todd Scruggs' base salary increases to $570,000 effective October 1, 2026, with target bonus at 100% of base salary for fiscal 2027
  • Board ratified the changes on September 16, 2026, based on Human Resources Committee approval

The filing

CompanyHelmerich & Payne (HP)
Form8-K, current report
Filed with the SECSep 22, 2026, 4:04 PM ET
Accession number0000046765-26-000051

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 22, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.