SEC Form 4 · accession 0000314808-17-000030
Valaris Ltd · VAL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael McGuinty
Officer — SVP-General Counsel/Secretary
Period of report
Mar 6, 2017
Accepted (ET)
Mar 8, 2017 · 5:31 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000314808
Table I — non-derivative securities
No Table I lines on this filing.
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 | — | Mar 6, 2017 | A | 62,307 | A | — | — | Class A Ordinary Shares | 62,307 | 62,307 | 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.
- F2On March 6, 2017, the reporting person was granted 62,307 restricted share units, vesting in three equal annual installments beginning on the first anniversary of the grant date.