Hvid Kenneth 4

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.