Borr Drilling Ltd (BORR) CFO details extensive option awards and share stake
Rhea-AI Filing Summary
Borr Drilling Ltd executive Magnus Vaaler, Chief Financial Officer, reported his equity holdings, primarily employee stock options over common shares and direct common share ownership. The options cover multiple tranches of underlying common shares at exercise prices between $1.66 and $6.54, with expiration dates from 2026 through 2029 and vesting schedules tied to continued employment. He also reported direct ownership of 266,711 common shares, which includes restricted stock units that vest in full on September 1, 2026, 2027 and 2028. The filing does not show any new purchases, sales or option exercises, only existing positions and amended terms on certain options.
Positive
- None.
Negative
- None.
Insider Trade Summary
13 transactions reported
Mixed
13 txns
Insider
Vaaler Magnus
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Employee Stock Option to Purchase Common Shares F2 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F2 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F2 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F3 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F3 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F3 | -- | -- | -- |
| 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, F6 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F5, F6 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F5, F6 | -- | -- | -- |
| holding | Common Shares F1 | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option to Purchase Common Shares — 1,475,000 shares (Direct);
Common Shares — 266,711 shares (Direct)
Footnotes (6)
- F1. Includes (a) 41,237 restricted stock units (RSUs) that vest in full on September 1, 2026, (b) 41,237 RSUs that vest in full on September 1, 2027 and (c) 41,237 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
- F2. 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
- F3. 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
- F4. 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
- F5. 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
- F6. 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 held: 266,711 shares
Option exercise price (low): $1.6600 per share
Option exercise price (high): $6.5400 per share
+4 more
7 metrics
Common shares held
266,711 shares
Direct common share ownership reported following the transactions
Option exercise price (low)
$1.6600 per share
Employee stock option grant originally dated August 12, 2021, expiring December 31, 2026
Option exercise price (high)
$6.5400 per share
Employee stock option grants dated August 15, 2024, expiring August 15, 2029
Underlying shares for $3.66 options
133,334 shares
Employee stock option to purchase common shares expiring September 1, 2027
Underlying shares for $4.41 options
133,333 shares
Employee stock option to purchase common shares expiring September 1, 2027
Underlying shares for $5.16 options
133,333 shares
Employee stock option to purchase common shares expiring September 1, 2027
RSUs vesting 2026
41,237 RSUs
Restricted stock units vesting in full on September 1, 2026
Key Terms
restricted stock units (RSUs), exercise price, expiration date, contingent right
4 terms
restricted stock units (RSUs) financial
"Includes (a) 41,237 restricted stock units (RSUs) that vest in full"
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
exercise price financial
"with staggered 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
"to extend the expiration date, resulting in the cancellation"
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.
contingent right financial
"Each RSU represents a contingent right to receive one common share"
FAQ
What stock options does the Borr Drilling (BORR) CFO hold according to this Form 4?
The CFO holds employee stock options over multiple blocks of common shares with exercise prices ranging from $1.66 to $6.54, and expiration dates between 2026 and 2029, each subject to specific vesting schedules described in the notes.
What are the key vesting terms of the Borr Drilling (BORR) CFO’s RSUs?
The CFO’s reported position includes 41,237 RSUs vesting in full on September 1, 2026, 41,237 RSUs vesting on September 1, 2027, and 41,237 RSUs vesting on September 1, 2028, each contingent on continuous employment at the vesting date.
Which Borr Drilling (BORR) option grant had its expiration date amended?
An option grant originally made on August 12, 2021 had its expiration date extended, resulting in cancellation of the old option and a replacement option expiring on December 31, 2026. The amended option is reported as 100% vested and exercisable.
What is the lowest and highest option exercise price held by the Borr Drilling (BORR) CFO?
Reported employee stock options have exercise prices as low as $1.66 per share and as high as $6.54 per share, each tied to different grant dates, vesting schedules and expiration dates disclosed in the filing and its footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
