Speers Brody 4

4 · TEEKAY CORP LTD · Filed Jun 3, 2026

AI-generated summary of this filing

Updated Jun 3, 2026

Teekay (TK) CFO Speers Brody Exercises/Receives RSUs, Sells 10,201 Shares

What Happened

Speers Brody, Chief Financial Officer of Teekay Corp. (TK), had restricted stock units (RSUs) vest and related Dividend Equivalent Rights (DERs) settle into shares on June 2, 2026. The Form 4 reports roughly 21,305.637 shares issued on vesting/settlement (sum of reported acquisitions).
To satisfy tax withholding, 10,201 shares were disposed at $11.61 per share, generating $118,434. Other reported disposals at $0.00 reflect internal settlement/conversion of DERs and RSUs (see footnotes).

Key Details

Transaction date: June 2, 2026; filing date: June 3, 2026 (timely).
Actions reported: RSU vesting/awards (A), conversion/settlement of derivative rights (M), and tax withholding sale (F).
Shares issued on vesting/settlement (per Form 4): ~21,305.637 shares (aggregate of reported acquisitions).
Shares sold for tax withholding: 10,201 shares at $11.61 each = $118,434.
Zero-dollar disposals listed in the filing represent settlement/conversion of DERs on vesting (see footnotes F1–F5).
Shares owned after the transactions: not specified in the provided Form 4 excerpt.

Context

This was not an open-market purchase or a market sale for investment reasons; it reflects routine RSU vesting and the common practice of selling shares to cover tax obligations.
DERs are dividend equivalents that were converted into shares on vesting (per footnotes). The filing shows exercises/conversions of derivative awards rather than a separate cash exercise.

Form 4

Period: 2026-06-02

DirectorChief Financial Officer

Transactions

Exercise/Conversion
Common Stock
[F4]
2026-06-02+17,553.396→ 17,553.396 total
Exercise/Conversion
Common Stock
[F5]
2026-06-02+1,511.92→ 19,065.316 total
Tax Payment
Common Stock
2026-06-02$11.61/sh−10,201$118,434→ 8,864.316 total
Award
Dividend Equivalent Rights
[F1]
2026-06-02+2,240.321→ 2,240.321 total
→ Common Stock (2,240.321 underlying)
Exercise/Conversion
Restricted Stock Units
[F2]
2026-06-02−9,096.661→ 0 total
→ Common Stock (9,096.661 underlying)
Exercise/Conversion
Restricted Stock Units
[F2]
2026-06-02−8,456.735→ 8,456.735 total
→ Common Stock (8,456.735 underlying)
Exercise/Conversion
Dividend Equivalent Rights
[F3]
2026-06-02−1,511.92→ 728.401 total
→ Common Stock (1,511.92 underlying)

Footnotes (5)

[F1]The DERs accrued on two outstanding RSU awards and vest proportionately with the RSUs to which they relate. The number of DERs is calculated as of the dividend record date by multiplying the dividend per share ($1.00) by the number of outstanding RSUs, and, to the extent applicable, previously accrued DERs and then dividing the result by the fair value of the common share on the dividend payment date. Each DER is the economic equivalent of one share. Excludes DERs that accrued on outstanding RSUs prior to June 2, 2026, which are reflected in outstanding RSUs.
[F2]Restricted stock units (RSUs) convert into Common Stock on a one-for-one basis. The RSUs vested on June 2, 2026. Amounts reported include DERs that accrued on the RSUs prior to June 2, 2026.
[F3]Settlement of Dividend Equivalent Rights (DERs) that accrued on June 2, 2026 and were settled in shares on vesting of the related RSUs on June 2, 2026.
[F4]Restricted stock units (RSUs) convert into Common Stock on a one-for-one basis.
[F5]Settlement of Dividend Equivalent Rights (DERs) that accrued on June 2, 2026 and were settled in shares on vesting of the related RSUs on June 2, 2026.

Signature

/s/ Brody Speers|2026-06-03

1 file