Teekay Tankers (TNK) CFO Speers Brody Receives Award

What Happened

• Speers Brody, Chief Financial Officer of Teekay Tankers Ltd. (TNK), was granted 93.423 derivative shares (DERs) on 2026-08-21. The transaction is reported as an award/acquisition (code A) and the DERs are derivative in nature (price: N/A). This was not an open‑market purchase or sale but an accrual of dividend equivalents tied to existing RSU awards.

Key Details

• Transaction date: 2026-08-21. Form filed: 2026-08-24.
• Transaction type/code: Award/Acquisition (A) — derivative shares (DERs).
• Number of DERs received: 93.423. Price per share: N/A (DERs represent economic equivalents).
• Shares owned after transaction: not specified in the provided filing.
• Footnote (F1): DERs accrued on four outstanding RSU awards and vest proportionately with those RSUs. DERs are calculated using the dividend per share ($0.25) multiplied by outstanding RSUs, adjusted by previously accrued DERs, then divided by the fair value of the common share on the dividend payment date. Each DER equals the economic equivalent of one share.
• Note: The filing excludes DERs that accrued on outstanding RSUs prior to June 2, 2026, which are already reflected in outstanding RSUs.

Context

• DERs are dividend-equivalent awards tied to RSUs and do not reflect an open-market purchase or sale; they provide the economic equivalent of dividends and vest with the underlying RSUs. Such awards are routine compensation-related accruals and should be interpreted differently from outright purchases or sales.