Teekay Tankers CEO Kenneth Hvid Receives 388 DERs

What Happened
Kenneth Hvid, President, CEO and a director of Teekay Tankers Ltd. (TNK), was reported to have acquired 388.272 derivative units (DERs) on 2026-08-21. The reported transaction is an award/accrual (code A) of DERs tied to outstanding restricted stock units (RSUs) — not an open-market purchase or sale. No per-share price or cash value is listed for the DERs (price shown as N/A).

Key Details

• Transaction date: 2026-08-21; Form 4 filed 2026-08-25.
• Transaction type: Award/acquisition of derivative securities (code A); listed as "Acquired" as a derivative.
• Quantity: 388.272 DERs. Price: N/A (DERs are dividend equivalents, not cash purchases).
• Shares owned after transaction: Not specified in the Form 4.
• Footnote: DERs accrued on three outstanding RSU awards (and certain deferred RSUs). The number of DERs was calculated using a $0.25 dividend per share and the fair value of common stock on the dividend payment date; each DER is the economic equivalent of one share. DERs accrued on RSUs granted before June 2, 2026 are excluded and remain reflected as outstanding RSUs.

Context
DERs are dividend-equivalent rights that accrue on RSUs and vest in proportion to the linked RSUs; they represent the economic value of dividends rather than new share purchases. This is a routine compensation-related accrual and should be read as an award tied to existing equity awards rather than a market trade signaling a buy or sell.