Borr Drilling (BORR) CFO equity awards and holdings disclosed in Form 3/A

Rhea-AI Filing Summary

Borr Drilling Ltd filed an amended Form 3 for Chief Financial Officer Magnus Vaaler, detailing his equity interests in the company. The filing lists multiple employee stock option grants over common shares with exercise prices between 1.6600 and 6.5400, expiring between 2026 and 2029. It also reports 266,711 common shares held directly and restricted stock units that vest in equal tranches of 41,237 RSUs on September 1, 2026, September 1, 2027, and September 1, 2028, subject to continued employment. The entry reflects holdings only, with no new purchases or sales.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Vaaler Magnus

(Last) (First) (Middle)

C/O BORR DRILLING LIMITED

2ND FLOOR 9 PAR-LA-VILLE ROAD

(Street)

HAMILTON HM11

(City) (State) (Zip)

BERMUDA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Borr Drilling Ltd [ BORR ]

3a. Foreign Trading Symbol
[BORR]

5. If Amendment, Date of Original Filed (Month/Day/Year)
03/18/2026

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares	266,711(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option to Purchase Common Shares	03/01/2024(2)	09/01/2027	Common Shares	133,334	$3.66	D
Employee Stock Option to Purchase Common Shares	03/01/2025(2)	09/01/2027	Common Shares	133,333	$4.41	D
Employee Stock Option to Purchase Common Shares	03/01/2026(2)	09/01/2027	Common Shares	133,333	$5.16	D
Employee Stock Option to Purchase Common Shares	08/15/2025(3)	08/15/2029	Common Shares	75,000	$6.54	D
Employee Stock Option to Purchase Common Shares	08/15/2026(3)	08/15/2029	Common Shares	75,000	$6.54	D
Employee Stock Option to Purchase Common Shares	08/15/2027(3)	08/15/2029	Common Shares	75,000	$6.54	D
Employee Stock Option to Purchase Common Shares	08/12/2023(4)	08/12/2026	Common Shares	183,334	$1.66	D
Employee Stock Option to Purchase Common Shares	08/12/2024(4)	08/12/2026	Common Shares	183,333	$1.66	D
Employee Stock Option to Purchase Common Shares	08/12/2025(4)	08/12/2026	Common Shares	183,333	$1.66	D
Employee Stock Option to Purchase Common Shares	03/01/2025(5)	11/17/2028	Common Shares	100,000	$6.31	D
Employee Stock Option to Purchase Common Shares	03/01/2026(5)	11/17/2028	Common Shares	100,000	$6.31	D
Employee Stock Option to Purchase Common Shares	03/01/2027(5)	11/17/2028	Common Shares	100,000	$6.31	D

Explanation of Responses:

1. Includes (a) 41,237 restricted stock units (RSUs) that vest in full on September 1, 2026, (b) 41,237 RSUs that vest in full on September 1, 2027 and (c) 41,237 RSUs that vest in full on September 1, 2028, each conditional upon continuous employment with the Issuer at the date of vesting. Each RSU represents a contingent right to receive one common share

2. Grant of options on September 1, 2022 - options 1/3 vest every March 1 between 2024 and 2026 with staggered strike price as at date of filing

3. Grant of options on August 15, 2024 - options 1/3 vest every August 15 between 2025 and 2027 with strike price as at date of filing

4. Grant of options on August 12, 2021 - options 1/3 vest every August 1 between 2023 and 2025 with strike price as at date of filing

5. Grant of options on November 17, 2023 - options 1/3 vest every March 1 between 2025 and 2027 with strike price as at date of filing

Remarks:

	/s/ Temi Bankole as attorney-in-fact	03/25/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Borr Drilling (BORR) CFO Magnus Vaaler’s Form 3/A report?

The Form 3/A reports Magnus Vaaler’s existing equity interests in Borr Drilling, not new trades. It details multiple employee stock option grants over common shares and his direct holding of 266,711 common shares, plus several tranches of restricted stock units subject to future vesting.

How many Borr Drilling common shares does Magnus Vaaler hold directly?

The filing shows Magnus Vaaler directly holding 266,711 common shares of Borr Drilling. This figure represents his reported non-derivative position as of the Form 3/A date and is disclosed alongside his various employee stock options and restricted stock unit awards over additional common shares.

What stock option awards are disclosed for BORR CFO Magnus Vaaler?

The Form 3/A lists several employee stock options to purchase Borr Drilling common shares. These options have exercise prices ranging from 1.6600 to 6.5400 and expiration dates between 2026 and 2029, with different grants vesting in thirds on specified March and August vesting dates over multiple years.

What restricted stock units (RSUs) does Magnus Vaaler hold in Borr Drilling?

The footnotes disclose RSU awards totaling three tranches of 41,237 units each. These RSUs vest in full on September 1, 2026, September 1, 2027, and September 1, 2028, provided Magnus Vaaler remains continuously employed, with each RSU representing a contingent right to receive one common share.

Does the Borr Drilling Form 3/A show any insider buying or selling activity?

No buy or sell transactions are reported in this Form 3/A. The entries are classified as holdings, with transaction codes marked as unknown and no transaction shares or prices listed, indicating the filing is focused on disclosing Magnus Vaaler’s existing options, RSUs, and share ownership structure.

How are Magnus Vaaler’s Borr Drilling stock options structured over time?

The filing describes several option grants that vest in one-third increments across multiple years. Grants dated August 12, 2021, September 1, 2022, August 15, 2024, and November 17, 2023 each vest annually on specified March or August dates, aligning equity compensation with ongoing service to the company.