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Weatherford International plc·4

Mar 10, 4:53 PM ET

Saligram Girish 4

Research Summary

AI-generated summary

Updated

Weatherford (WFRD) CEO Saligram Girish Exercises Derivatives, Receives RSU/PSU Awards

What Happened

  • Saligram Girish, President & CEO and Director of Weatherford International (WFRD), had restricted/share-unit activity on March 7, 2026. The filing shows a conversion/exercise of 15,291 derivative units (coded M) and the withholding/disposition of 6,018 shares to cover tax obligations at $90.80 per share (coded F), totaling $546,434. In addition, Girish was granted new equity awards on March 7, 2026: 28,380 RSUs (time‑based) and 85,141 PSUs (performance‑based, target amount).

Key Details

  • Transaction date: March 7, 2026; Form 4 filed March 10, 2026 (appears timely).
  • Concrete amounts and values:
    • Exercise/conversion (M): 15,291 shares @ $0.00 (reported as conversion of derivative).
    • Tax withholding/disposition (F): 6,018 shares @ $90.80 = $546,434 (to satisfy withholding obligations).
    • Grants (A) on 3/7/2026: 28,380 RSUs (time‑based) and 85,141 PSUs (performance‑based, target).
  • Shares owned after transaction: Not specified in the excerpt; see the full Form 4 for total post‑transaction beneficial ownership.
  • Footnote highlights:
    • F1: Vesting of RSUs originally granted 3/7/2025 (vest in three equal annual installments).
    • F2: The 6,018‑share disposition reflects withholding to satisfy tax obligations on vested RSUs.
    • F5: 28,380 RSUs granted 3/7/2026, vesting over three years.
    • F6: 85,141 PSUs granted 3/7/2026 are target amounts; final payout may be 0%–200% based on performance through 2028.
    • F3/F4: Some holdings are reported as held in trusts (grantor trusts/GRAT).
  • Transaction codes: M = exercise/conversion of derivative, F = tax withholding/payment, A = award/grant.

Context

  • This filing appears to reflect routine equity compensation activity: vesting/conversion of prior awards, withholding of a portion of vested shares to cover taxes, and receipt of new time‑based RSUs and performance PSUs. The only shares disposed were withheld for taxes (not an open‑market sale), and the PSUs are performance‑contingent (payout may vary from 0–200% of target).