Borr Drilling (NYSE: BORR) CFO details options, RSUs and shares

Rhea-AI Filing Summary

Borr Drilling Ltd executive Magnus Vaaler, the Chief Financial Officer, filed a Form 3 reporting his initial equity position. The filing lists multiple employee stock options to purchase common shares, with exercise prices between 1.6600 and 6.5400 per share and expirations from 2026 through 2029, plus 143,000 directly held common shares and several tranches of 41,237 restricted stock units scheduled to vest annually from 2026 to 2028, subject to continued employment.

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^*

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)

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	143,000	D
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
Employee Stock Option to Purchase Common Shares	08/15/2025(4)	08/15/2029	Common Shares	75,000	$6.54	D
Employee Stock Option to Purchase Common Shares	08/15/2026(4)	08/15/2029	Common Shares	75,000	$6.54	D
Employee Stock Option to Purchase Common Shares	08/15/2027(4)	08/15/2029	Common Shares	75,000	$6.54	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
Employee Stock Option to Purchase Common Shares	03/01/2024(6)	09/01/2027	Common Shares	133,334	$3.66	D
Employee Stock Option to Purchase Common Shares	03/01/2025(6)	09/01/2027	Common Shares	133,333	$4.41	D
Employee Stock Option to Purchase Common Shares	03/01/2026(6)	09/01/2027	Common Shares	133,333	$5.16	D
Employee Stock Option to Purchase Common Shares	08/12/2023(7)	08/12/2026	Common Shares	183,334	$1.66	D
Employee Stock Option to Purchase Common Shares	08/12/2024(7)	08/12/2026	Common Shares	183,333	$1.66	D
Employee Stock Option to Purchase Common Shares	08/12/2025(7)	08/12/2026	Common Shares	183,333	$1.66	D

Explanation of Responses:

1. 41,237 RSUs that vest on September 1, 2026 and are conditional on the grantee remaining in continuous employment with the Company

2. 41,237 RSUs that vest on September 1, 2027 and are conditional on the grantee remaining in continuous employment with the Company

3. 41,237 RSUs that vest on September 1, 2028 and are conditional on the grantee remaining in continuous employment with the Company

4. 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

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

6. 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

7. 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

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’s Form 3 for Magnus Vaaler disclose?

The Form 3 discloses Chief Financial Officer Magnus Vaaler’s initial ownership in Borr Drilling Ltd. It shows directly held common shares, multiple employee stock option grants, and time-based restricted stock units that vest over several years, subject to continued employment conditions.

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

The filing reports that Magnus Vaaler directly holds 143,000 common shares of Borr Drilling Ltd. This figure reflects his direct ownership as of the Form 3 reporting date and is separate from his stock options and restricted stock unit awards.

What stock options are reported for BORR CFO Magnus Vaaler on Form 3?

The Form 3 lists several employee stock options to purchase common shares, with exercise prices ranging from 1.6600 to 6.5400 per share. These options cover various share amounts and carry expiration dates between 2026 and 2029, reflecting staggered vesting schedules.

What restricted stock units (RSUs) are disclosed for Borr Drilling’s CFO?

Footnotes describe three tranches of 41,237 RSUs each for Magnus Vaaler. These RSUs vest on September 1 of 2026, 2027, and 2028, and each tranche is conditional on him remaining in continuous employment with Borr Drilling Ltd until the respective vesting date.

Does BORR’s Form 3 show any recent buying or selling by Magnus Vaaler?

No buying or selling activity is identified; the entries are categorized as holdings. The transaction summary shows zero buy and sell counts and classifies all 16 entries as holding records, indicating the form provides a snapshot of existing positions rather than recent trades.

What are the key vesting schedules for Magnus Vaaler’s BORR options?

Footnotes state options were granted on August 15, 2024, November 17, 2023, September 1, 2022, and August 12, 2021. Each grant vests in one-third increments on specified future dates, aligning vesting between 2023 and 2027, subject to continued employment.