Teekay Tankers MD Rohit Kapoor Receives DER Award

What Happened
Rohit Kapoor, Managing Director of Teekay Tankers Ltd. (TNK), was granted 78.808 derivative shares (DERs) on 2026-08-21. This entry is reported on a Form 4 as an award/acquisition (code A); no cash price per share is applicable because these DERs are dividend-equivalent units tied to outstanding RSUs rather than an open-market purchase.

Key Details

• Transaction date: 2026-08-21 (Form 4 filed 2026-08-24). The filing shows no late-filing flag.
• Security acquired: 78.808 DERs (derivative securities representing the economic equivalent of one common share each). Price shown as N/A.
• Shares owned after the transaction: Not reported in the provided filing excerpt.
• Footnote summary: DERs accrued on four outstanding RSU awards and vest proportionately with those RSUs. DER count was calculated using a $0.25 dividend per share multiplied by RSUs and dividing by the fair value per share on the dividend payment date. DERs exclude accruals on RSUs outstanding prior to June 2, 2026, which remain reflected as RSUs.

Context
DERs are dividend-equivalent units that provide the economic benefit of dividends on unvested RSUs; they are not an open-market purchase or sale and do not by themselves indicate a bullish or bearish trade. These DERs will vest in line with the underlying RSU vesting schedule and represent payout mechanics rather than a separate purchase.