SEC Form 4 · accession 0000314808-18-000049
Valaris Ltd · VAL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patrick Carey Lowe
Officer — EVP & Chief Operating Officer
Period of report
Mar 5, 2018
Accepted (ET)
Mar 7, 2018 · 5:11 pm EST
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 | Mar 5, 2018 | A | 214,134 | $0.00 | A | 565,614 | D | |
| Class A Ordinary SharesF2 | Mar 5, 2018 | A | 17,209 | $0.00 | A | 582,823 | D | |
| Class A Ordinary SharesF3 | Mar 5, 2018 | F | 6,368 | $5.91 | D | 576,455 | D | |
| Class A Ordinary SharesF3 | Mar 6, 2018 | F | 16,270 | $4.60 | D | 560,185 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On March 5, 2018, the reporting person was granted 214,134 restricted shares, vesting in three equal annual installments beginning on the first anniversary of the grant date.
- F2Shares earned under performance unit awards for 2015-2017 performance period.
- F3These shares were withheld upon vesting to enable the reporting person to satisfy tax withholding obligations that arose upon such vesting, which will be paid by the issuer to the appropriate taxing authority in cash.