4//SEC Filing
HIX THOMAS R 4
Accession 0001144204-19-017145
CIK 0000085408other
Filed
Mar 28, 8:00 PM ET
Accepted
Mar 29, 9:45 PM ET
Size
11.9 KB
Accession
0001144204-19-017145
Insider Transaction Report
Form 4
HIX THOMAS R
Director
Transactions
- Tax Payment
Class A Ordinary Shares
2019-03-27$11.15/sh−5,104$56,910→ 78,489 total - Disposition to Issuer
Class A Ordinary Shares
2019-03-27$11.15/sh−27,037$301,463→ 51,452 total - Exercise/Conversion
Class A Ordinary Shares
2019-03-27+54,073→ 83,593 total - Exercise/Conversion
Restricted Share Units
2019-03-27−54,073→ 0 total→ Class A Ordinary Shares (54,073 underlying)
Footnotes (6)
- [F1]Pursuant to the approval by the compensation committee of the Board of Directors (the "Compensation Committee") of Rowan Companies plc. (the "Company"), on March 27, 2019, the Reporting Person's restricted share units were accelerated in full.
- [F2]Each restricted share unit represents a contingent right to receive cash, one Class A Ordinary Share of the Company, or a combination thereof, at the discretion of the Compensation Committee of the Company. On March 27, 2019, the Compensation Committee approved the Reporting Person's settlement to be 50% in Class A Ordinary Shares on a one-to-one basis and 50% in cash less the amount necessary to cover taxes, which was settled through shares being forfeited.
- [F3]These shares were surrendered for tax payment upon vesting of restricted share units on March 27, 2019.
- [F4]Sales price is the fair market value on Wednesday, March 27, 2019.
- [F5]Each restricted share unit represents a contingent right to receive cash, one Class A Ordinary Share of the Company, or a combination thereof, at the discretion of the Compensation Committee.
- [F6]Each restricted share unit vests on the earlier of the first anniversary of the date of the grant or the date of the next annual general meeting of shareholders of the Company. Each restricted share unit settles upon vesting. Each restricted share unit settles in cash, Class A Ordinary Shares of the Company, or a combination thereof, at the discretion of the Compensation Committee.
Documents
Issuer
ROWAN COMPANIES PLC
CIK 0000085408
Entity typeother
Related Parties
1- filerCIK 0001207003
Filing Metadata
- Form type
- 4
- Filed
- Mar 28, 8:00 PM ET
- Accepted
- Mar 29, 9:45 PM ET
- Size
- 11.9 KB