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Borr Drilling GC sells 10,538 shares for taxes

Borr Drilling’s SVP–General Counsel sold shares to cover tax withholding while retaining sizable RSU awards vesting from 2026 to 2029.

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Borr Drilling Ltd (BORR) reported that its SVP – General Counsel, Lee Charles (Chuck), sold 10,538 common shares on September 2, 2026 at $4.8005 per share. The company states this sale was effected solely to satisfy tax withholding obligations from vesting restricted stock units and was not a discretionary sale.

Following this vesting, the executive continues to hold multiple RSU awards scheduled to vest between 2026 and 2029, each conditioned on continuous employment.

Positive

  • None.

Negative

  • None.
Insider Lee Charles (Chuck)
Role SVP - General Counsel
Sold 10,538 shs ($51K)
Type Security Shares Price Value
Sale Common Shares F1, F2 10,538 $4.8005 $51K
holding Common Shares F3 -- -- --
Holdings After Transaction: Common Shares — 181,000 shares (Direct)
Footnotes (3)
  1. F1. The reported sale was effected solely to satisfy tax withholding obligations arising from the vesting and settlement of restricted stock units and does not represent a discretionary sale by the reporting person
  2. F2. Includes (a) 26,346 restricted stock units (RSUs) that vest in full on September 1, 2026, (b) 26,346 RSUs that vest in full on September 1, 2027 and (c) 26,346 RSUs that vest in full on September 1, 2028, each conditional upon continuous employment with the Issuer at the date of vesting. Each RSU represents a contingent right to receive one common share
  3. F3. Represents (a) 37,500 restricted stock units (RSUs) that vest in full on September 1, 2027, (b) 37,500 RSUs that vest in full on September 1, 2028 and (c) 37,500 RSUs that vest in full on September 1, 2029, each conditional upon continuous employment with the Issuer at the date of vesting. Each RSU represents a contingent right to receive one common share
Shares sold 10,538 shares Common shares sold on September 2, 2026 to satisfy tax withholding
Sale price per share $4.8005 per share Price for 10,538 common shares sold on September 2, 2026
RSUs vesting September 1, 2026 26,346 RSUs Restricted stock units that vest in full on September 1, 2026, subject to continuous employment
RSUs vesting September 1, 2027 (first award) 26,346 RSUs Restricted stock units that vest in full on September 1, 2027, subject to continuous employment
RSUs vesting September 1, 2028 (first award) 26,346 RSUs Restricted stock units that vest in full on September 1, 2028, subject to continuous employment
RSUs vesting September 1, 2027 (second award) 37,500 RSUs Restricted stock units that vest in full on September 1, 2027, subject to continuous employment
RSUs vesting September 1, 2028 (second award) 37,500 RSUs Restricted stock units that vest in full on September 1, 2028, subject to continuous employment
RSUs vesting September 1, 2029 37,500 RSUs Restricted stock units that vest in full on September 1, 2029, subject to continuous employment
restricted stock units financial
"Includes (a) 26,346 restricted stock units (RSUs) that vest in full"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"sale was effected solely to satisfy tax withholding obligations arising"
continuous employment financial
"each conditional upon continuous employment with the Issuer at the date"

FAQ

What insider transaction did BORR disclose for Lee Charles (Chuck)?
BORR disclosed that SVP – General Counsel Lee Charles (Chuck) sold 10,538 common shares on September 2, 2026 at $4.8005 per share. The company explains the sale was solely to meet tax withholding obligations from vesting RSUs, not a discretionary sale.

Was the BORR insider sale by the SVP – General Counsel discretionary?
No. The company states the 10,538-share sale by the SVP – General Counsel was effected solely to satisfy tax withholding obligations arising from RSU vesting and settlement and does not represent a discretionary sale by the reporting person.

What RSUs vesting in 2026–2028 does the BORR SVP – General Counsel hold?
One award includes 26,346 RSUs vesting September 1, 2026, plus 26,346 RSUs vesting September 1, 2027 and 26,346 RSUs vesting September 1, 2028, each conditioned on continuous employment. Each RSU represents a contingent right to receive one common share.

What additional RSUs vesting in 2027–2029 are reported for BORR’s SVP – General Counsel?
A separate award represents 37,500 RSUs vesting in full on September 1, 2027, 37,500 RSUs vesting September 1, 2028, and 37,500 RSUs vesting September 1, 2029, each also conditioned upon continuous employment with Borr Drilling Ltd at the vesting date.

Does the BORR filing indicate trades under a Rule 10b5-1 plan?
No. The filing’s Rule 10b5-1 checkbox is not checked, and there is no footnote stating that the 10,538-share sale or other reported positions were made pursuant to a Rule 10b5-1 or similar pre-arranged trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
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)
HAMILTONHM11
(City)(State)(Zip)
BERMUDA
(Country)		2. Issuer Name and Ticker or Trading Symbol
Borr Drilling Ltd [ BORR ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
SVP - General Counsel
2a. Foreign Trading Symbol
[BORR]
3. Date of Earliest Transaction (Month/Day/Year)
09/02/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Shares09/02/202609/02/2026SV10,538(1)D$4.800568,500(2)D
Common Shares112,500(3)D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The reported sale was effected solely to satisfy tax withholding obligations arising from the vesting and settlement of restricted stock units and does not represent a discretionary sale by the reporting person
2. Includes (a) 26,346 restricted stock units (RSUs) that vest in full on September 1, 2026, (b) 26,346 RSUs that vest in full on September 1, 2027 and (c) 26,346 RSUs that vest in full on September 1, 2028, each conditional upon continuous employment with the Issuer at the date of vesting. Each RSU represents a contingent right to receive one common share
3. Represents (a) 37,500 restricted stock units (RSUs) that vest in full on September 1, 2027, (b) 37,500 RSUs that vest in full on September 1, 2028 and (c) 37,500 RSUs that vest in full on September 1, 2029, each conditional upon continuous employment with the Issuer at the date of vesting. Each RSU represents a contingent right to receive one common share
Remarks:
/s/ Temi Bankole as attorney-in-fact09/03/2026
** Signature of Reporting PersonDate
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 4 (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 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR