CLARK JAMES RODERICK 4
4 · Valaris plc · Filed Nov 14, 2019
Insider Transaction Report
Form 4
Valaris plcVAL
CLARK JAMES RODERICK
Director
Transactions
- Tax Payment
Class A Ordinary Shares
2019-11-12$4.53/sh−2,442$11,062→ 46,185 total - Exercise/Conversion
Class A Ordinary Shares
2019-11-12+2,637→ 48,627 total - Exercise/Conversion
Restricted Share Units
2019-11-12−5,066→ 0 total→ Class A Ordinary Shares (5,066 underlying) - Exercise/Conversion
Restricted Share Units
2019-11-12−22,806→ 0 total→ Class A Ordinary Shares (22,806 underlying) - Exercise/Conversion
Restricted Share Units
2019-11-12−2,637→ 0 total→ Class A Ordinary Shares (2,637 underlying) - Exercise/Conversion
Class A Ordinary Shares
2019-11-12+22,806→ 40,924 total - Exercise/Conversion
Class A Ordinary Shares
2019-11-12+5,066→ 45,990 total
Footnotes (5)
- [F1]The 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), $0.40 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 $8,392.40 to Valaris with respect to the shares actually issued upon vesting of the restricted share units. The remaining 1,825 shares were withheld and not issued to satisfy certain tax withholding obligations.
- [F2]The 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), $0.40 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 $1,864.80 to Valaris with respect to the shares actually issued upon vesting of the restricted share units. The remaining 406 shares were withheld and not issued to satisfy certain tax withholding obligations.
- [F3]The 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), $0.40 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 $970.40 to Valaris with respect to the shares actually issued upon vesting of the restricted share units. The remaining 211 shares were withheld and not issued to satisfy certain tax withholding obligations.
- [F4]These 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 incash.
- [F5]In connection with the director's resignation from the Board on November 12, 2019, the Compensation Committee and the Board approved the accelerated vesting of the unvested June 2019 grant of 22,806 restricted share units held by the retiring director, effective immediately prior to his retirement. All other unvested restricted share unit awards held by the director will automatically vest in accordance with their terms upon the date of his retirement.