Noble Corp plc 4
4 · Noble Corp plc · Filed Feb 14, 2014
Insider Transaction Report
Form 4
STILLEY RANDALL D
Executive Vice President
Transactions
- Award
Restricted Stock Units
2014-02-13+96,200→ 96,200 totalExercise: $0.00→ Shares (96,200 underlying)
Footnotes (2)
- [F1]Each restricted stock unit represents a contingent right to receive one share.
- [F2]The restricted stock units vest and settle in three equal annual installments beginning on the first anniversary of the grant date. We previously disclosed the proposed transaction to separate and spin-off a newly formed subsidiary, Paragon Offshore Limited, whose assets would consist of most of our standard specification drilling units. Such transaction may be preceded by an initial public offering of Paragon Offshore. If the initial public offering or the spin-off have not occurred by June 30, 2015, and executive's employment terminates thereafter for any reason other than for cause, 50% of the unvested portion of this award would vest.