SEC Form 4 · accession 0000314808-17-000091
Valaris Ltd · VAL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert W Edwards III
Officer — Vice President - Finance
Period of report
Jun 1, 2017
Accepted (ET)
Jun 5, 2017 · 6:40 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 1, 2017 | M | 7,182 | — | A | 36,602 | D | |
| Class A Ordinary Shares | Jun 1, 2017 | D | 7,182 | $6.32 | D | 29,420 | D | |
| Class A Ordinary SharesF2 | Jun 1, 2017 | F | 520 | $6.32 | D | 28,900 | D | |
| Class A Ordinary SharesF2 | Jun 2, 2017 | F | 209 | $6.14 | D | 28,691 | D | |
| Class A Ordinary SharesF2 | Jun 3, 2017 | F | 159 | $6.14 | D | 28,532 | 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 UnitsF3 | — | Jun 1, 2017 | A | 54,830 | A | — | — | Class A Ordinary Shares | 54,830 | 54,830 | D |
| Restricted Share UnitsF1 | — | Jun 1, 2017 | M | 7,182 | D | — | — | Class A Ordinary Shares | 7,182 | 28,728 | D |
Explanation of responses
- F1Each Restricted Share Unit represents the economic equivalent of one Ensco Class A ordinary share and is settled in cash upon vesting. On June 1, 2016, the reporting person was granted 35,910 restricted share units, vesting in five equal annual installments beginning on the first anniversary of the grant date.
- F2These shares were withheld to satisfy tax withholding obligations that arose upon vesting of restricted shares.
- F3Each Restricted Share Unit represents the economic equivalent of one Ensco Class A ordinary share and is settled in cash upon vesting. The Restricted Share Units vest in five equal annual installments beginning on the first anniversary of the grant date.