Johansen Kristian 4
4 · Valaris Ltd · Filed Jun 12, 2026
Research Summary
AI-generated summary of this filing
Valaris (VAL) Director Kristian Johansen Exercises RSUs, Sells Shares
What Happened
Kristian Johansen, a director of Valaris Ltd (VAL), converted/exercised derivatives that resulted in 4,860 shares on June 10, 2026. Of those, 1,944 shares were disposed to the issuer at $88.98 per share for a total of $172,977. The filing also shows a grant of 1,984 restricted stock units (RSUs) as an annual equity retainer (no cash paid). Footnotes indicate a portion of awards were cash-settled and that each RSU represents the right to one share, cash, or a combination.
Key Details
- Transaction date: 2026-06-10; Form 4 filed: 2026-06-12 (filed within the typical reporting window).
- Exercise/Conversion (code M): 4,860 shares acquired (no cash price reported).
- Disposition to issuer (code D): 1,944 shares at $88.98/share = $172,977.
- Grant/Award (code A): 1,984 RSUs awarded (will vest per grant terms).
- Footnotes: F1—portion of RSUs were cash-settled; F2—1,984 RSUs are the annual retainer and vest on the earlier of 1 year or next annual meeting; F3—each RSU may be settled in shares, cash, or combination at the recipient’s election.
- Shares owned after transaction: Not specified in this filing.
Context
The filing shows an exercise/conversion plus an immediate disposition back to the issuer, which commonly reflects net settlement or tax withholding following an award exercise; the filing’s footnotes confirm cash settlement is an option for these RSUs. Grants (A) are awards, not open-market purchases, so they are routine compensation rather than a direct bullish vote via buying stock. This is a director-level transaction, not a 10% owner filing.
Insider Transaction Report
- Exercise/Conversion
Common Shares
2026-06-10+4,860→ 9,508 total - Disposition to Issuer
Common Shares
[F1]2026-06-10$88.98/sh−1,944$172,977→ 7,564 total - Award
Common Shares
[F2]2026-06-10+1,984→ 9,548 total - Exercise/Conversion
Restricted Stock Units
[F3]2026-06-10−4,860→ 0 total→ Common Shares (4,860 underlying)
Footnotes (3)
- [F1]Represents the portion of restricted stock units that were cash settled in accordance with the terms of the reporting person's equity award agreement.
- [F2]Consists of 1,984 restricted stock units, representing the recipient's annual equity retainer, which will vest in full on the earlier of the first anniversary of the date of grant or the next annual meeting of the Company's shareholders.
- [F3]Each restricted stock unit represents the right to receive one Valaris common share, the cash value thereof, or a combination of shares and cash, in accordance with the grant agreements and at the election of the reporting person.