SEC Form 4 · accession 0001594590-16-000214
PARAGON OFFSHORE PLC · PGN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lee Michael Ahlstrom
Officer — SVP: IR, Strategy and Planning
Period of report
Mar 10, 2016
Accepted (ET)
Mar 14, 2016 · 7:54 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001594590
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary Shares of the Issuer, par value $0.01 per shareF1 | Mar 10, 2016 | M | 48,256 | — | A | 81,587 | D | |
| Ordinary Shares of the Issuer, par value $0.01 per share | Mar 10, 2016 | F | 15,756 | $0.29 | D | 65,831 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1 | — | Mar 10, 2016 | M | 48,256 | D | — | — | Ordinary Shares of the Issuer, par value $0.01 per share | 48,256 | 96,514 | D |
| Restricted Stock UnitsF2 | — | holding | — | — | — | — | — | Ordinary Shares of the Issuer, par value $0.01 per share | 63,424 | 63,424 | D |
| Restricted Stock UnitsF3 | — | holding | — | — | — | — | — | Ordinary Shares of the Issuer, par value $0.01 per share | 8,602 | 8,602 | D |
Explanation of responses
- F1Restricted stock units, which are one-for-one ordinary share equivalents, acquired by the reporting person on February 20, 2015 pursuant to the Issuer's long term incentive plan and vest in three equal annual installments beginning on the first anniversary of the grant date. The vesting of these restricted stock units was delayed due to the Issuer's commencement of proceedings under chapter 11 of the United States Bankruptcy Code.
- F2Restricted stock units, which are one-for-one ordinary share equivalents, acquired by the reporting person on August 14, 2014 pursuant to the Issuer's long term incentive plan and vest on the third anniversary of the grant date.
- F3Restricted stock units, which are one-for-one ordinary share equivalents, acquired by the reporting person on August 14, 2014 pursuant to to anti-dilution provisions set forth in the Issuer's long term incentive plan in connection with the previously announced pro-rata distribution of 100% of the outstanding ordinary shares of the Issuer to the shareholders of Noble Corporation plc.