SEC Form 4 · accession 0000314808-18-000103
Valaris Ltd · VAL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gerald W Haddock
Director
Period of report
Jun 1, 2018
Accepted (ET)
Jun 5, 2018 · 4:46 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, 2018 | M | 3,562 | — | A | 51,974 | D | |
| Class A Ordinary SharesF2 | Jun 1, 2018 | M | 6,909 | — | A | 58,883 | D | |
| Class A Ordinary SharesF3 | Jun 1, 2018 | M | 10,549 | — | A | 69,432 | 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 UnitsF4,F5 | — | Jun 1, 2018 | A | 30,396 | A | — | — | Class A Ordinary Shares | 30,396 | 30,396 | D |
| Restricted Share UnitsF1,F6 | — | Jun 1, 2018 | M | 3,562 | D | — | — | Class A Ordinary Shares | 3,562 | 0 | D |
| Restricted Share UnitsF2,F7 | — | Jun 1, 2018 | M | 6,909 | D | — | — | Class A Ordinary Shares | 6,909 | 6,909 | D |
| Restricted Share UnitsF3,F8 | — | Jun 1, 2018 | M | 10,549 | D | — | — | Class A Ordinary Shares | 10,549 | 21,098 | D |
Explanation of responses
- F1The restricted share units convert into Class A ordinary shares on a one-for-one basis upon vesting, and 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 $356.20 to Ensco plc with respect to the shares actually issued upon vesting of the restricted share units.
- F2The restricted share units convert into Class A ordinary shares on a one-for-one basis upon vesting, and 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 $690.90 to Ensco plc with respect to the shares actually issued upon vesting of the restricted share units.
- F3The restricted share units convert into Class A ordinary shares on a one-for-one basis upon vesting, and 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 $1,054.90 to Ensco plc with respect to the shares actually issued upon vesting of the restricted share units.
- F4Upon 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.
- F5On June 1, 2018, the reporting person was granted 30,396 restricted share units, vesting in three equal annual installments beginning on the first anniversary of the grant date.
- F6On June 1, 2015, the reporting person was granted 10,686 restricted share units, vesting in three equal annual installments beginning on the first anniversary of the grant date.
- F7On June 1, 2016, the reporting person was granted 20,727 restricted share units, vesting in three equal annual installments beginning on the first anniversary of the grant date.
- F8On June 1, 2017, the reporting person was granted 31,647 restricted share units, vesting in three equal annual installments beginning on the first anniversary of the grant date.