Jeffrey A. Miller
Also at Halliburton Co
About
Jeffrey A. Miller has built an extensive career in the global energy sector, marked by a strong foundation in business and financial discipline as a Certified Public Accountant. His early professional experiences at a major accounting firm provided him with the analytical skills that have since underpinned his strategic decision-making.
Since his entry into the company in 1997, his leadership has been defined by consistent growth and a commitment to operational excellence. Over the years, his roles have expanded as he has taken on increasing responsibilities, contributing to major initiatives in improving capital efficiency, advancing digital and automation technologies, and driving sustainability efforts through significant reductions in Scope 1 and Scope 2 emissions.
Beyond his direct contributions to the company, his influence extends into the broader energy and business communities. His active involvement in several industry organizations and advisory councils, along with his guidance on mergers & acquisitions, underscores his passion for innovation and commitment to community engagement. His work continues to shape not only the strategic direction of the company but also sets a benchmark for excellence in the global energy industry.
$HAL Performance Under Jeffrey A. Miller
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Halliburton (HAL) | President and CEO | 2017–2018 | Held prior to his current combined role |
| Halliburton (HAL) | President and Chief Health, Safety and Environment Officer | 2014–2017 | Served before his current role |
| Halliburton (HAL) | Senior Vice President, Global Business Development | N/A | Responsible for HAL’s largest global customers |
| Major accounting firm | Various roles in accounting, finance, and M&A | N/A | Held positions before joining HAL |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| American Petroleum Institute | Member | N/A | N/A |
| National Petroleum Council | Member | N/A | N/A |
| Advisory Council, Texas A&M University Dwight Look College of Engineering | Advisory Council Member | N/A | N/A |
| Board of Directors, Association of Former Students of Texas A&M University | Board Member | N/A | N/A |
| The Council on Recovery Foundation | Member | N/A | N/A |
| Greater Houston Partnership | Member | N/A | N/A |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Salary | $1,600,000 | Annual | Fixed base salary. |
| Halliburton Foundation | $112,500 | Contribution matching | Matched contributions up to $50,000 on a 2.25-for-1 basis. |
| Halliburton Giving Choices | $600 | As contributed | Matches donations at $0.10 per dollar. |
| HALPAC | $5,000 | As contributed | Dollar-for-dollar match to a designated 501(c)(3) nonprofit. |
| Restricted Stock Dividends | $264,464 | Quarterly | Dividends on restricted stock; note that restricted stock units do not receive dividend payments. |
| HRSP Employer Match | $16,296 | As matched | Matches employee contributions up to 5% of eligible base salary under the 401(a)(17) limit. |
| HRSP Basic | $6,600 | As contributed | Contributed at 2% of eligible base pay, subject to the 401(a)(17) compensation limit. |
| Benefit Restoration Plan | $88,900 | As earned | Award earned under the Benefit Restoration Plan. |
| SERP | $82,000 | As contributed | Supplemental Executive Retirement Plan contribution. |
| All Other | $82,759 | Miscellaneous | Other compensation components not specified in detail. |
Performance Compensation
Annual Performance Pay Plan (2023)
| Metric | Threshold | Target | Maximum | Weight | Actual Result |
|---|---|---|---|---|---|
| Net Operating Profit After Tax | $2.866B | $3.125B | $3.383B | 80% | $3.040B |
| Asset Turns | 1.852 | 1.890 | 1.928 | 80% | 1.878 |
| Sustainability (Non-financial) | N/A | N/A | N/A | 10% | Achieved |
| Diversity & Inclusion | N/A | N/A | N/A | 10% | Achieved |
| Overall Payout | N/A | N/A | N/A | N/A | 84% of target |
Additional Details:
- Grant Date: January 3, 2023.
- Grant Date Fair Value:
- Restricted Stock Awards: $3,082,396.
- Performance Share Awards: $3,596,116.
- Vesting: Restricted Stock vests at 20% per year over 5 years and Performance Shares vest over a 3-year performance period.
Performance Unit Program (PUP) Cycle (2023)
| Metric | Threshold | Target | Maximum | Notes |
|---|---|---|---|---|
| Relative ROCE | 25th percentile | 55th percentile | 75th percentile | Primary metric based on peer group performance |
| Performance Shares (#) | 23,872 | 95,489 | 190,978 | Share-based targets reflecting performance outcomes |
| TSR Modifier | 75% multiplier | 100% multiplier | 125% multiplier | Adjusts payout based on Total Shareholder Return performance |
Additional Details:
- Grant Date: January 3, 2023.
- Vesting: Awards vest over a 3-year period ending on December 31, 2025, with a split of 50% in stock and 50% in cash.
Equity Incentive Plan Awards & Restricted Stock Awards (2023)
| Award Type | Grant Date | Grant Date Fair Value | Vesting Schedule | Additional Details |
|---|---|---|---|---|
| Restricted Stock Awards | 01/03/2023 | $3,082,396 | 20% per year over 5 years | Quarterly dividends at $0.16/share; shares non-transferable until fully vested. |
| Performance Share Awards | 01/03/2023 | $3,596,116 | 3-year performance period | Subject to a ±25% TSR modifier; dividends accrue and are paid in cash upon vesting. |
This comprehensive performance compensation framework aligns executive incentives with both short-term financial results and long-term strategic goals.