Hvid Kenneth 4

What Happened

• Kenneth Hvid, President & CEO and a director of Teekay Tankers Ltd. (TNK), had restricted stock units (RSUs) vest on June 2, 2026. As reported on Form 4, derivative- and RSU-related transactions occurred that same day resulting in a total of 19,695.144 units reported as acquired (1,937.327 DERs + 17,757.817 RSU-related units) and 17,757.817 units reported as converted/disposed. All transactions show $0.00 per share — they were equity awards/convertions, not open-market buys or sales.

Key Details

• Transaction date(s): June 2, 2026; Form 4 filed June 3, 2026 (timely).
• Reported entries:
  • A (Grant/award): 1,937.327 shares @ $0.00 (acquired) — DERs (dividend equivalent rights).
  • M (Exercise/conversion): 1,951.009 shares @ $0.00 (disposed).
  • M (Exercise/conversion): 15,806.808 shares @ $0.00 (disposed).
  • A (Grant/award): 17,757.817 shares @ $0.00 (acquired).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes of note:
  • F1: DERs accrued on outstanding and previously deferred RSUs; each DER is the economic equivalent of one share and are calculated based on a $1.00 dividend per share divided by the fair value on dividend payment date.
  • F2: RSUs convert one-for-one into Class A common shares; these RSUs vested on June 2, 2026 and amounts include accrued DERs.
  • F3: Some vested RSUs and related DERs were deferred — deferred RSUs are vested rights to receive shares later (up to 10 years from grant).
• No cash proceeds or open-market sales were reported.

Context

• These transactions reflect vested equity compensation and dividend-equivalent accruals (DERs), not purchases or market sales — they do not necessarily signal a buy/sell decision by the insider.
• Transaction codes: A = award/grant; M = exercise/conversion of derivative securities. The filing indicates conversion/deferral activity tied to RSU vesting rather than a cash exercise or immediate sale.