Borr Drilling (NYSE: BORR) SVP reports zero shares, future RSU awards

Rhea-AI Filing Summary

Borr Drilling Ltd executive Lee Charles (Chuck), the company’s SVP and General Counsel, has filed an initial statement of beneficial ownership. The filing shows he holds no common shares directly as of the reporting date.

Footnotes describe equity awards of 26,346 restricted share units (RSUs) vesting on September 1, 2026, another 26,346 RSUs vesting on September 1, 2027, and 26,346 RSUs vesting on September 1, 2028, each conditional on his continuous employment with the company.

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

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1. Name and Address of Reporting Person^*

Lee Charles (Chuck)

(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)

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP - General Counsel

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	0(1)	D
Common Shares	0(2)	D
Common Shares	0(3)	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

Explanation of Responses:

1. 26,346 RSUs that vest on September 1, 2026 and are conditional on the grantee remaining in continuous employment with the Company.

2. 26,346 RSUs that vest on September 1, 2027 and are conditional on the grantee remaining in continuous employment with the Company.

3. 26,346 RSUs that vest on September 1, 2028 and are conditional on the grantee remaining in continuous employment with the Company.

Remarks:

	/s/ Temi Bankole as attorney-in-fact	03/18/2026
	** 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) SVP Lee Charles report in this Form 3?

Lee Charles reports his initial beneficial ownership position and shows no directly held common shares. The filing also references several tranches of restricted share units (RSUs) that may convert into shares in future years if employment conditions are met.

Does Borr Drilling SVP Lee Charles own any BORR common shares in this filing?

According to the filing, total common shares following the reported holdings are 0.0000, meaning he reports no directly owned BORR common shares. His potential equity exposure instead comes from multiple unvested restricted share unit (RSU) awards detailed in the footnotes.

What RSU awards for BORR stock are disclosed for Lee Charles in the Form 3?

The Form 3 footnotes disclose three RSU grants of 26,346 units each. These RSUs are scheduled to vest on September 1 of 2026, 2027, and 2028, respectively, assuming the grantee remains in continuous employment with Borr Drilling Ltd.

When do the Borr Drilling RSUs for Lee Charles vest, and what is required?

The RSUs vest in three equal blocks of 26,346 units on September 1, 2026, 2027, and 2028. Each vesting is conditional on Lee Charles remaining in continuous employment with Borr Drilling, reflecting a long-term retention and incentive structure.

Is this Borr Drilling (BORR) Form 3 a buy or sell transaction filing?

This Form 3 is not a buy or sell disclosure. It is an initial statement of beneficial ownership for Lee Charles as an officer, listing zero directly held common shares and providing details on unvested restricted share units rather than market transactions.

How should investors interpret the unvested BORR RSUs reported for Lee Charles?

The unvested BORR RSUs represent potential future equity if specified conditions are satisfied. They vest over three years, aligning the executive’s compensation with the company’s longer-term performance and his continued employment, but they are not yet outstanding common shares.