Borr Drilling (NYSE: BORR) COO details stock option and RSU awards
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Borr Drilling Ltd Chief Operating Officer Harvey Edward Snowling filed an initial ownership report showing his existing equity awards in the company. The filing lists several employee stock options to purchase common shares with exercise prices ranging from $1.6600 to $6.5400 and expirations between 2026 and 2029. Each option grant covers distinct blocks of underlying common shares, including awards tied to grant dates in 2021, 2022, 2023, and 2024. Footnotes also describe restricted share units, such as 57,274 RSUs vesting on September 1, 2026, 57,273 RSUs vesting on September 1, 2027, and 57,274 RSUs vesting on September 1, 2028, all conditional on Snowling remaining in continuous employment with the company.
Positive
- None.
Negative
- None.
Insider Trade Summary
15 transactions reported
Mixed
15 txns
Insider
Snowling Harvey Edward
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Employee Stock Option to Purchase Common Shares | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option to Purchase Common Shares — 75,000 shares (Direct);
Common Shares — 0 shares (Direct)
Footnotes (1)
- 57,274 RSUs that vest on September 1, 2026 and are conditional on the grantee remaining in continuous employment with the Company 57,273 RSUs that vest on September 1, 2027 and are conditional on the grantee remaining in continuous employment with the Company 57,274 RSUs that vest on September 1, 2028 and are conditional on the grantee remaining in continuous employment with the Company 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 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 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 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
FAQ
What does Borr Drilling (BORR) COO Harvey Edward Snowling report in this Form 3?
The Form 3 shows Harvey Edward Snowling’s existing equity holdings, primarily employee stock options and RSUs in Borr Drilling. It lists option exercise prices, expiration dates, underlying common shares, and time-based vesting conditions tied to his continued employment with the company.
What RSU awards are mentioned for Borr Drilling COO Harvey Edward Snowling?
The filing notes RSU grants of 57,274 units vesting September 1, 2026, 57,273 vesting September 1, 2027, and 57,274 vesting September 1, 2028. Each RSU tranche vests only if Snowling remains in continuous employment with Borr Drilling through the applicable vesting date.
How are Harvey Edward Snowling’s stock options in BORR structured over time?
The options arise from grants dated August 12, 2021; September 1, 2022; November 17, 2023; and August 15, 2024. Footnotes explain that each grant vests in one-third installments over specified years, with strike prices set as of the filing date for each grant series.
Why is Borr Drilling’s Form 3 for Harvey Edward Snowling important for investors?
This Form 3 clarifies the COO’s equity alignment with shareholders by detailing his option and RSU incentives. It outlines how many shares his awards relate to, the exercise prices, and vesting schedules, illustrating the long-term performance and retention focus of his compensation package.