Rielly John P Form 4 HESS / JOHN P RIELLY ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

RIELLY JOHN P

(Last) (First) (Middle)

HESS CORPORATION

1185 AVENUE OF THE AMERICAS

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HESS CORP [ HES ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
EVP and CFO

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2022

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $1.00 par value	03/04/2022		M(1)		14,749	A	$56.74	310,682	D
Common Stock, $1.00 par value	03/04/2022		S		14,749	D	$100.03(2)	295,933	D
Common Stock, $1.00 par value	03/04/2022		M(1)		10,256	A	$49.72	306,189	D
Common Stock, $1.00 par value	03/04/2022		S		10,256	D	$100.01(3)	295,933	D
Common Stock, $1.00 par value	03/04/2022		M(1)		17,385	A	$80.35	313,318	D
Common Stock, $1.00 par value	03/04/2022		S		9,515	D	$100.43(4)	303,803	D
Common Stock, $1.00 par value	03/04/2022		S		7,870	D	$101.08(5)	295,933	D
Common Stock, $1.00 par value	03/04/2022		M(1)		19,048	A	$74.49	314,981	D
Common Stock, $1.00 par value	03/04/2022		S		19,048	D	$100.12(6)	295,933	D
Common Stock, $1.00 par value	03/06/2022		A		5,140	A	$0.00	301,073	D
Common Stock, $1.00 par value	03/07/2022		S(7)		6,990	D	$98.39	294,083(8)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
2022 Performance Share Unit(9)	$0.00	03/06/2022		A		13,614		(10)	(10)	Common Stock, $1.00 par value	27,228	$0.00	13,614	D
Option to purchase Common Stock	$101.17	03/06/2022		A		4,387		03/06/2023	03/06/2032	Common Stock, $1.00 par value	4,387	$0.00	4,387	D
Option to purchase Common Stock	$101.17	03/06/2022		A		4,387		03/06/2024	03/06/2032	Common Stock, $1.00 par value	4,387	$0.00	4,387	D
Option to purchase Common Stock	$101.17	03/06/2022		A		4,387		03/06/2025	03/06/2032	Common Stock, $1.00 par value	4,387	$0.00	4,387	D
Option to purchase Common Stock	$56.74	03/04/2022		M			7,374	03/06/2020	03/06/2029	Common Stock, $1.00 par value	7,374	$0.00	0	D
Option to purchase Common Stock	$56.74	03/04/2022		M			7,375	03/06/2021	03/06/2029	Common Stock, $1.00 par value	7,375	$0.00	0	D
Option to purchase Common Stock	$49.72	03/04/2022		M			10,256	03/06/2021	03/06/2030	Common Stock, $1.00 par value	10,256	$0.00	0	D
Option to purchase Common Stock	$80.35	03/04/2022		M			5,795	03/04/2015	03/04/2024	Common Stock, $1.00 par value	5,795	$0.00	0	D
Option to purchase Common Stock	$80.35	03/04/2022		M			5,795	03/04/2016	03/04/2024	Common Stock, $1.00 par value	5,795	$0.00	0	D
Option to purchase Common Stock	$80.35	03/04/2022		M			5,795	03/04/2017	03/04/2024	Common Stock, $1.00 par value	5,795	$0.00	0	D
Option to purchase Common Stock	$74.49	03/04/2022		M			6,349	03/03/2016	03/03/2025	Common Stock, $1.00 par value	6,349	$0.00	0	D
Option to purchase Common Stock	$74.49	03/04/2022		M			6,349	03/03/2017	03/03/2025	Common Stock, $1.00 par value	6,349	$0.00	0	D
Option to purchase Common Stock	$74.49	03/04/2022		M			6,350	03/03/2018	03/03/2025	Common Stock, $1.00 par value	6,350	$0.00	0	D

Explanation of Responses:

1. Common Stock acquired upon exercise of options granted under the Corporation's Long-Term Incentive Plans.

2. The reported sales transactions were executed at prices ranging from $100.00 to $100.18. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide, upon request, to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transactions reported on this form were effected.

3. The reported sales transactions were executed at prices ranging from $100.00 to $100.14. The price reported above reflects the weighted average sales price.

4. The reported sales transactions were executed at prices ranging from $100.00 to $100.99. The price reported above reflects the weighted average sales price.

5. The reported sales transactions were executed at prices ranging from $101.00 to $101.99. The price reported above reflects the weighted average sales price.

6. The reported sales transactions were executed at prices ranging from $100.00 to $100.38. The price reported above reflects the weighted average sales price.

7. Shares sold solely to satisfy tax withholding on vesting of shares of restricted stock.

8. This amount includes 12,000 shares held in escrow pursuant to the Corporation's Long-Term Incentive Plans. The reporting person has only voting power of these shares until lapsing of the period set by the Committee administering the Plans at which time the shares plus accrued dividends will be delivered to the reporting person if the reporting person is still an employee of the Corporation.

9. Each Performance Share Unit entitles the holder to a payout of shares of Hess common stock equal to between 0% and 200% of such Performance Share Unit depending on the relative performance of the total shareholder return of Hess common stock compared with that of its peers over a three year performance period ending December 31, 2024, as more particularly described in the applicable award agreement.

10. Not applicable

Remarks:

	Barry Schachter for John P. Rielly	03/08/2022
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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