Mills Desmond J 4

What Happened

• Desmond J. Mills, SVP & Chief Accounting Officer of Weatherford International plc, had performance share units (PSUs) vest on Feb 4, 2026. The award converted to 6,275 common shares (exercise/conversion at $0.00). To satisfy his tax obligations, 2,470 of those shares were withheld (disposed) at a reported per-share value of $99.97, totaling $246,926. After withholding, Mills received a net 3,805 shares.

Key Details

• Transaction date: 2026-02-04 (reported on Form 4 filed 2026-02-06).
• Conversion: 6,275 shares issued on vesting (derivative exercise/conversion, code M) at $0.00 per share.
• Tax withholding: 2,470 shares withheld (code F) at $99.97/share = $246,926 withheld to cover taxes.
• Net shares retained: 3,805 shares after withholding.
• Footnotes: PSUs were granted Jan 18, 2023 under the 2019 Equity Incentive Plan and vested at 153% of target based on the three‑year performance period ending Dec 31, 2025 (F1). Withholding was done pursuant to the plan/award agreement to satisfy tax obligations (F2).
• Filing timeliness: Report filed two days after the transaction date (appears timely under standard 2‑business‑day rule).

Context

• This was a compensation-related vesting of PSUs, not an open-market purchase or sale. The conversion of PSUs to shares and the withholding to cover taxes are routine administrative actions and do not necessarily indicate the insider’s market view.
• The transaction included a conversion of equity awards (derivative exercise/settlement) and share withholding for taxes (code M for conversion; code F for tax withholding).