SEC Form 4 · accession 0001603923-17-000068
Weatherford International plc · WFRD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark A McCollum
Officer — President and CEO · Director
Period of report
Apr 24, 2017
Accepted (ET)
Apr 25, 2017 · 4:31 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001603923
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary SharesF1 | Apr 24, 2017 | A | 1,096,892 | $0.00 | A | 1,096,892 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Share UnitsF2 | — | Apr 24, 2017 | A | 548,446 | A | — | — | Ordinary Shares | — | 548,446 | D |
Explanation of responses
- F1Transaction was a grant of restricted share units and therefore has no price. The award is comprised of two separate grants of 548,446 restricted share units each. The units in the first grant are scheduled to vest in equal increments on each of April 24, 2018, 2019 and 2020. The units in the second grant vest as follows: 25 percent vest on each of April 24, 2018 and 2019 and the remaining 50 percent vest on April 24, 2020.
- F2Performance share units are scheduled to vest in equal increments on each of April 24, 2018, 2019 and 2020. Each performance share unit represents a contingent right to receive 0 to 2 shares, based on the achievement of specified increases in share price at the end of each of the 2017-2019 performance periods.