Hvid Kenneth 4
4 · TEEKAY CORP LTD · Filed Jun 3, 2026
Research Summary
AI-generated summary of this filing
Teekay Corp (TK) CEO Kenneth Hvid Receives Awards, Exercises DERs
What Happened Kenneth Hvid, President & CEO and a director of Teekay Corp (TK), reported RSU vesting and related derivative activity on June 2, 2026. The filing shows two award/acquisition entries totaling 188,078.304 shares (38,620.044 and 149,458.26) recorded at $0.00, and two exercise/conversion entries disposing of 149,458.261 derivative units (76,420.084 and 73,038.177) also at $0.00. These entries reflect RSUs vesting, conversion of RSUs/DERs into common stock and the deferral of certain vested RSUs/DERs rather than open-market purchases or sales.
Key Details
- Transaction date: June 2, 2026; Form 4 filed June 3, 2026 (timely).
- Reported prices: $0.00 per share for all reported entries (these are awards/derivative conversions, not cash trades).
- Aggregate reported: ~188,078.304 shares acquired via awards; ~149,458.261 derivative units exercised/converted (net difference reflects deferred units).
- Shares owned after transaction: not specified in the provided filing excerpt.
- Notable footnotes:
- F1: DERs = dividend-equivalent rights accrued on outstanding RSUs; each DER equals the economic equivalent of one share. DER accruals were calculated using a $1.00 dividend per share and the fair value on the dividend payment date.
- F2: RSUs convert 1-for-1 into common stock; the RSUs vested on June 2, 2026. Reported amounts include DERs accrued prior to vesting.
- F3: Some vested RSUs and related DERs were deferred by the reporting person; deferred RSUs are vested rights to receive shares and can be released upon election up to 10 years from grant.
Context These entries reflect equity compensation mechanics (RSU vesting, dividend-equivalent rights, and deferral elections) rather than open-market buying or selling. No cash proceeds or market trades are reported; the $0.00 amounts reflect conversion/award accounting. For retail investors, this is routine executive equity compensation activity and not a direct liquidity event or market sale signal.
Insider Transaction Report
- Award
Dividend Equivalent Rights
[F1]2026-06-02+38,620.044→ 38,620.044 total→ Common Stock (38,620.044 underlying) - Exercise/Conversion
Restricted Stock Units
[F2]2026-06-02−76,420.084→ 0 total→ Common Stock (76,420.084 underlying) - Exercise/Conversion
Restricted Stock Units
[F2]2026-06-02−73,038.177→ 73,038.177 total→ Common Stock (73,038.177 underlying) - Award
Deferred Restricted Stock Units
[F3]2026-06-02+149,458.26→ 375,340.538 total→ Common Stock (149,458.26 underlying)
Footnotes (3)
- [F1]19,455.7 DERs accrued on two outstanding RSU awards and vest proportionately with the RSUs to which they relate. 19,164.3 DERs also accrued on previously deferred RSUs. The total number of accrued DERs is calculated as of the dividend record date by multiplying the dividend per share ($1.00) by the number of outstanding RSUs, deferred RSUs and, to the extent applicable, previously accrued DERs and then dividing the result by the fair value of the common stock 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]Deferral of RSUs that vested on June 2, 2026 and related deferral of DERs that accrued on such RSUs on June 2, 2026. Each deferred RSU represents a vested right to receive one share of common stock of the issuer. The vested units may be released at the time the reporting person elects, no later than 10 years from the grant date.