Borr Drilling (NYSE: BORR) director details 46.2M-share indirect stake

Rhea-AI Filing Summary

Borr Drilling Ltd director Thiago Mordehachvili has filed an amended initial ownership report showing substantial indirect exposure to the company through Granular Capital Ltd, a fund he founded and manages.

The filing lists 46,199,677 common shares held indirectly by Granular Capital Ltd. It also discloses a Contract for Difference, described as a long position referencing 2,000,000 underlying common shares, with an exercise price of $0.00 per share and no true maturity date, as it can be rolled over and closed at Granular Capital Ltd’s option.

A footnote further indicates 54,545 restricted stock units that are scheduled to vest in full on September 30, 2026, conditional on Mordehachvili continuing to serve as a director. Each RSU represents the right to receive one common share upon vesting.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Mordehachvili Thiago

Role Director

Type	Security	Shares	Price	Value
holding	Contract for Difference	--	--	--
holding	Common Shares	--	--	--

Holdings After Transaction: Contract for Difference — 2,000,000 shares (Indirect, By Granular Capital Ltd); Common Shares — 46,199,677 shares (Indirect, By Granular Capital Ltd)

Footnotes (1)

1. Includes 54,545 restricted stock units (RSUs) that vest in full on September 30, 2026 conditional upon continuing to serve as a Director of the Issuer at the date of vesting. Each RSU represents a contingent right to receive one common share. Granular Capital Ltd is a fund founded and managed by the reporting person. The contract for difference is a long position, has no true maturity date (as it can be rolled over continuously) and can be closed at the option of Granular Capital Ltd.

Understanding Insider Trading Forms →

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
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hours per response:			0.5

1. Name and Address of Reporting Person^*

Mordehachvili Thiago

(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)

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

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	46,199,677(1)	I	By Granular Capital Ltd(2)

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
Contract for Difference	(3)	(3)	Common Shares	2,000,000	(3)	I	By Granular Capital Ltd(2)

Explanation of Responses:

1. Includes 54,545 restricted stock units (RSUs) that vest in full on September 30, 2026 conditional upon continuing to serve as a Director of the Issuer at the date of vesting. Each RSU represents a contingent right to receive one common share.

2. Granular Capital Ltd is a fund founded and managed by the reporting person.

3. The contract for difference is a long position, has no true maturity date (as it can be rolled over continuously) and can be closed at the option of Granular Capital Ltd.

Remarks:

	/s/ Temi Bankole as attorney-in-fact	03/30/2026
	** 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 indirect Borr Drilling (BORR) shareholding does Thiago Mordehachvili report?

Thiago Mordehachvili reports an indirect holding of 46,199,677 Borr Drilling common shares through Granular Capital Ltd. This reflects shares attributed to a fund he founded and manages, rather than directly held in his own name.

What is the Contract for Difference disclosed for Borr Drilling (BORR)?

The filing discloses a Contract for Difference that is a long position over 2,000,000 underlying common shares. It has no true maturity date, can be rolled continuously, and may be closed at Granular Capital Ltd’s option.

How is Granular Capital Ltd related to Borr Drilling (BORR) director Thiago Mordehachvili?

Granular Capital Ltd is described as a fund founded and managed by Thiago Mordehachvili. The reported indirect holdings and Contract for Difference are held by this fund, linking his economic exposure to Borr Drilling through the entity.

What RSUs linked to Borr Drilling (BORR) does Thiago Mordehachvili have?

The disclosure notes 54,545 restricted stock units (RSUs) that vest in full on September 30, 2026, conditional on him continuing as a director. Each RSU represents a contingent right to receive one Borr Drilling common share.

Does the Borr Drilling (BORR) Form 3/A show insider buying or selling activity?

The Form 3/A describes holdings and derivative exposure rather than explicit purchases or sales. Transaction indicators are marked as unknown, and the entry functions as an amended statement of beneficial ownership, not a record of new trades.