Borr Drilling (NYSE: BORR) director discloses 46,145,132 shares

Rhea-AI Filing Summary

Borr Drilling Ltd director Thiago Mordehachvili filed an initial ownership report showing only holdings, not new trades. The filing lists indirect ownership through Granular Capital Ltd of 46,145,132 common shares and a contract for difference over 2,000,000 underlying common shares. It also notes 54,545 restricted stock units that will vest on September 30, 2026 if he continues serving as a director.

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^*

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)

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	0	D(1)
Common Shares	46,145,132	I	Represents shares held by Granular Capital Ltd - fund founded and managed by Thiago Mordehachvili

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	(2)	(2)	Common Shares	2,000,000	(2)	I	By Granular Capital Ltd - fund founded and managed by Thiago Mordehachvili

Explanation of Responses:

1. 54,545 RSUs which will vest in full on September 30, 2026 conditional upon continuing to serve as a Director of the Company at the date of vesting.

2. 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	03/18/2026
	** 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 Thiago Mordehachvili’s Form 3 show for Borr Drilling (BORR)?

The Form 3 shows Thiago Mordehachvili as a director with only existing holdings reported. It details large indirect positions in Borr Drilling shares via Granular Capital Ltd and related derivatives, rather than any new purchases or sales.

How many Borr Drilling shares are held indirectly by Granular Capital Ltd?

The filing reports indirect ownership of 46,145,132 Borr Drilling common shares held by Granular Capital Ltd. It describes Granular Capital Ltd as a fund founded and managed by Thiago Mordehachvili, linking his director role to substantial fund-held positions.

What contract for difference exposure does Granular Capital hold in Borr Drilling?

Granular Capital Ltd holds a long contract for difference referencing 2,000,000 Borr Drilling common shares. The note explains this contract has no true maturity date, can be rolled continuously, and can be closed at Granular Capital Ltd’s option.

Does Thiago Mordehachvili hold any Borr Drilling shares directly?

The Form 3 shows zero Borr Drilling common shares held directly by Thiago Mordehachvili. All reported equity exposure in common shares is indirect through Granular Capital Ltd, plus a separate long contract for difference position linked to additional underlying shares.

What restricted stock units does Thiago Mordehachvili have at Borr Drilling (BORR)?

He has 54,545 restricted stock units that are scheduled to vest in full on September 30, 2026. Vesting is conditional on his continuing to serve as a director of the company on the vesting date, tying the award to ongoing board service.