Borr Drilling COO sells 25,877 shares for taxes
Borr Drilling’s COO reported a tax-withholding related sale of 25,877 shares and detailed a series of outstanding RSU and stock option awards with staggered vesting through 2028.
Rhea-AI Filing Summary
Borr Drilling Ltd (BORR) reported that Chief Operating Officer Harvey Edward Snowling sold 25,877 common shares on September 3, 2026 at $4.8023 per share. A footnote explains the sale was executed solely to satisfy tax withholding obligations from the vesting and settlement of restricted stock units and was not a discretionary sale by Snowling.
Footnotes also describe Snowling’s remaining equity awards, including multiple grants of restricted stock units that vest between 2026 and 2028 and several employee stock option grants on common shares with exercise prices between $1.66 and $6.54 per share, expiring between 2026 and 2029, some of which have staggered vesting schedules.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 25,877 shares
Net Sell
14 txns
Insider
Snowling Harvey Edward
Role
Chief Operating Officer
Sold
25,877 shs ($124K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Shares F1, F2 | 25,877 | $4.8023 | $124K |
| holding | Employee Stock Option to Purchase Common Shares F4 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F4 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F4 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F5 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F5 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F5 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F6 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F6 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F6 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F7, F8 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F7, F8 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F7, F8 | -- | -- | -- |
| holding | Common Shares F3 | -- | -- | -- |
Holdings After Transaction:
Common Shares — 198,444 shares (Direct);
Employee Stock Option to Purchase Common Shares — 0 contracts for 1,335,000 underlying shares (Direct)
Footnotes (8)
- 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
- F2. Includes (a) 57,274 restricted stock units (RSUs) that vest in full on September 1, 2026, (b) 57,273 RSUs that vest in full on September 1, 2027 and (c) 57,274 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
- F3. Represents 52,500 restricted stock units (RSUs) that vest in full on September 1, 2027, conditional upon continuous employment with the Issuer at the date of vesting. Each RSU represents a contingent right to receive one common share
- F4. 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
- F5. 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
- F6. 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
- F7. 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
- F8. The reported transaction involved an amendment of an outstanding option to extend the expiration date, resulting in the cancellation of the "old" option and the grant of a replacement option. The option was originally granted on August 12, 2021, and is 100% vested and exercisable.
Key Figures
Common shares sold: 25,877 shares
Sale price per share: $4.8023 per share
RSUs vesting September 1, 2026: 57,274 units
+5 more
8 metrics
Common shares sold
25,877 shares
Sale by COO Harvey Edward Snowling on September 3, 2026 to cover tax withholding
Sale price per share
$4.8023 per share
Price for 25,877 common shares sold on September 3, 2026
RSUs vesting September 1, 2026
57,274 units
Restricted stock units vesting in full on September 1, 2026, each for one common share
RSUs vesting September 1, 2027
57,273 units and 52,500 units
Two RSU tranches vesting in full on September 1, 2027, subject to continuous employment
RSUs vesting September 1, 2028
57,274 units
Restricted stock units vesting in full on September 1, 2028, each for one common share
Stock options at $6.54
75,000 underlying shares per vesting tranche at $6.54
Employee stock options granted August 15, 2024, vesting one-third annually from 2025 to 2027, expiring August 15, 2029
Stock options at $1.66
150,000 underlying shares at $1.66
Replacement option originally granted August 12, 2021, fully vested and exercisable, expiring December 31, 2026
Stock options at $6.31
100,000 underlying shares per vesting tranche at $6.31
Options granted November 17, 2023, vesting one-third each March 1 from 2025 to 2027, expiring November 17, 2028
Key Terms
restricted stock units, vest in full, exercise price, expiration date, +1 more
5 terms
restricted stock units financial
"Includes 57,274 restricted stock units (RSUs) that vest in full on September 1, 2026"
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.
vest in full financial
"RSUs that vest in full on September 1, 2027 and September 1, 2028"
exercise price financial
"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"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
expiration date financial
"The reported transaction involved an amendment of an outstanding option to extend the expiration date"
The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.
replacement option financial
"cancellation of the "old" option and the grant of a replacement option"
FAQ
What insider transaction did BORR’s COO report on September 3, 2026?
Borr Drilling’s Chief Operating Officer Harvey Edward Snowling reported selling 25,877 common shares on September 3, 2026 at $4.8023 per share, with a footnote stating the sale was to satisfy tax withholding obligations from restricted stock unit vesting.
Does the BORR Form 4 mention a Rule 10b5-1 trading plan for this sale?
No. The Form 4 indicates no Rule 10b5-1 trading plan for the reported transactions, and the footnotes describing the September 3, 2026 sale refer only to tax withholding obligations tied to restricted stock unit vesting.
What restricted stock units for BORR does Harvey Edward Snowling hold after the reported sale?
A footnote states holdings include 57,274 RSUs vesting in full on September 1, 2026, 57,273 RSUs vesting on September 1, 2027, and 57,274 RSUs vesting on September 1, 2028, each conditional on continuous employment at the vesting date.
What additional BORR RSUs are reported separately for the COO?
Another footnote describes 52,500 restricted stock units that vest in full on September 1, 2027, conditional upon continuous employment with Borr Drilling Ltd at the vesting date, with each restricted stock unit representing a contingent right to receive one common share.
What BORR stock options with a $6.54 exercise price does the COO hold?
Footnotes and tables describe options granted on August 15, 2024 to purchase BORR common shares at an exercise price of $6.54 per share, covering 75,000 underlying shares per tranche, with one-third vesting each August 15 from 2025 through 2027 and expiring on August 15, 2029.
Which older BORR stock option grant had its expiration date extended?
A footnote states that options originally granted on August 12, 2021 with an exercise price of $1.66 per share and covering 150,000 underlying shares were amended to extend the expiration date to December 31, 2026, cancelling the old option and granting a replacement option that is 100% vested and exercisable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
