SEC Form 4 · accession 0001209191-15-081963
ROWAN COMPANIES PLC · RDC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William E Albrecht
Director
Period of report
Nov 23, 2015
Accepted (ET)
Nov 24, 2015 · 3:00 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000085408
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 Units (RSUs)F2,F1,F3 | — | Nov 23, 2015 | A | 28 | A | — | — | Class A Ordinary Shares | 28 | 5,374 | D |
Explanation of responses
- F1Each restricted share unit (RSU) represents a contingent right to receive one Class A Ordinary Share of Rowan Companies plc.
- F2On November 23, 2015, the Company paid a dividend of $0.10 per share on its Class A Ordinary Shares. The Reporting Person received the number of restricted share units shown above in lieu of such cash dividend.
- F3Upon forefeiture of an annual RSU award prior to vesting, any RSUs credited to the Reporting Person in lieu of cash dividends with respect to such forfeited RSUs are also forfeited. RSUs are settled after the final termination date of the Reporting Person's service as a director. At the election of the Compensation Committee, such settlement may be made in cash or common shares of the Company.