SEC Form 4 · accession 0001209191-16-138246
ROWAN COMPANIES PLC · RDC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles L Szews
Director
Period of report
Aug 22, 2016
Accepted (ET)
Aug 23, 2016 · 1:42 pm EDT
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 UnitsF1,F2 | — | Aug 22, 2016 | A | 8,838 | A | — | — | Class A Ordinary Shares | 8,838 | 8,838 | D |
Explanation of responses
- F1Each restricted share unit represents a contingent right to receive one Class A Ordinary Share of Rowan Companies plc.
- F2The restricted share units vest on the earlier of the first anniversary date of the grant or the date of the next annual meeting of shareholders. Vested shares (including any dividends) will be delivered to the reporting person after the final termination date of the reporting person's service on the Board of Directors. At the election of the Compensation Committee, such payout may be made in cash or shares. Upon election to the Board of Directors, the new director received a pro-rated annual grant equal to $116,667 of restricted share units. The number of restricted share units reported is calculated using the fair market value of $13.20 on August 22, 2016.