WEDEMEYER PHIL D 4
4 · Ensco Rowan plc · Filed Apr 15, 2019
Insider Transaction Report
Form 4
WEDEMEYER PHIL D
Director
Transactions
- Exercise/Conversion
Restricted Share Units
2019-04-11−11,565→ 0 total→ Class A Ordinary Shares (11,565 underlying) - Tax Payment
Class A Ordinary Shares
2019-04-11$16.37/sh−4,083$66,839→ 26,620 total - Exercise/Conversion
Class A Ordinary Shares
2019-04-11+11,565→ 30,703 total
Footnotes (3)
- [F1]On April 11, 2019, Ensco Rowan plc (the "Company") effected a 1 for 4 reverse stock split. All share counts on this Form 4 are represented on a post-split basis.
- [F2]The reporting person's restricted share units vested as a result of his retirement from the board of directors of the Company. Upon the vesting of the restricted share units, the reporting person was required to pay the aggregate nominal value (par value), $0.40 per share (on a post-split basis), 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 $2,992.80 to the Company with respect to the shares actually issued upon vesting of the restricted share units.
- [F3]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 in cash.