SEC Form 4 · accession 0000314808-16-000347
Valaris Ltd · VAL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James Roderick Clark
Director
Period of report
Jun 3, 2016
Accepted (ET)
Jun 6, 2016 · 5:21 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000314808
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Ordinary SharesF1 | Jun 3, 2016 | M | 1,378 | — | A | 28,971 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Share UnitsF1,F2 | — | Jun 3, 2016 | M | 1,378 | D | — | — | Class A Ordinary Shares | 1,378 | 0 | D |
Explanation of responses
- F1Upon the vesting of our restricted share units, the reporting person is required to pay the aggregate nominal value (par value), $0.10 per share, of our Class A ordinary shares actually issued, in accordance with U.K. corporate law. In connection with the transaction reported above, the reporting person paid $137.80 to Ensco plc with respect to the shares actually issued upon vesting of the restricted share units.
- F2On June 3, 2013, the reporting person was granted 4,134 restricted share units, vesting in three equal annual installments beginning on the first anniversary of the grant date.