Borr Drilling COO buys and sells 300,000 shares
Sale proceeds paid the exercise price and applicable withholding taxes, and Snowling received the remaining net proceeds.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Borr Drilling Ltd Chief Operating Officer Harvey Edward Snowling reported two option exercises of 150,000 shares each on October 13, 2026, at a $1.66 per-share exercise price. On October 14, 2026, Snowling reported purchasing and selling 300,000 common shares each at $4.91 per share in connection with a cashless exercise of vested options. A footnote says 150,000 options remained outstanding and exercisable; no Rule 10b5-1 plan is reported.
Insights
Analyzing...
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
15 txns
Insider
Snowling Harvey Edward
Role
Chief Operating Officer
Bought
300,000 shs ($1.47M)
Sold
300,000 shs ($1.47M)
Approx. gross sale proceeds
$1.47M
Approx. exercise cost
$498K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Shares F1, F2 | 300,000 | $4.91 | $1.47M |
| Sale | Common Shares F3, F2 | 300,000 | $4.91 | $1.47M |
| holding | Employee Stock Option to Purchase Common Shares F6, F7 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F8 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F8 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F8 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F9 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F9 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F9 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F10 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F10 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F10 | -- | -- | -- |
| holding | Common Shares F4 | -- | -- | -- |
| Exercise | Employee Stock Option to Purchase Common Shares F5, F6, F7 | 150,000 | $4.91 | $737K |
| Exercise | Employee Stock Option to Purchase Common Shares F5, F6, F7 | 150,000 | $4.91 | $737K |
Holdings After Transaction:
Employee Stock Option to Purchase Common Shares — 0 contracts for 1,035,000 underlying shares (Direct);
Common Shares — 198,444 shares (Direct)
Footnotes (10)
- F1. The reported purchase was effected in connection with a cashless exercise of vested stock options. The sale proceeds were used to pay the exercise price and applicable withholding taxes, and the reporting person received the remaining net proceeds
- 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. The reported sale was effected in connection with a cashless exercise of vested stock options. The sale proceeds were used to pay the exercise price and applicable withholding taxes, and the reporting person received the remaining net proceeds
- F4. 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
- F5. Represents the exercise of vested stock options originally granted on 12 August 2021 at an exercise price of $1.66 per share. Following the transaction, 150,000 options remain outstanding and exercisable
- F6. 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
- F7. 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
- F8. 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
- F9. 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
- F10. 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
Key Figures
Option exercises: 150,000 common shares each
Exercise price: $1.66 per share
Shares purchased: 300,000 common shares
+3 more
6 metrics
Option exercises
150,000 common shares each
Two reported transactions on October 13, 2026
Exercise price
$1.66 per share
Option exercise transactions on October 13, 2026
Shares purchased
300,000 common shares
October 14, 2026
Shares sold
300,000 common shares
October 14, 2026
Transaction price
$4.91 per share
Reported purchase and sale on October 14, 2026
Options remaining
150,000 options
Outstanding and exercisable following the reported transaction
Key Terms
cashless exercise, restricted stock units (RSUs), vest
3 terms
cashless exercise financial
"in connection with a cashless exercise of vested options"
A cashless exercise is a way for an option holder to convert stock options into actual shares without paying the purchase price in cash; instead they immediately give up a portion of the newly issued shares to cover the cost and any withholding taxes. Investors care because this process increases the number of shares available and can slightly dilute existing holdings, while also signaling how insiders or employees are realizing compensation without needing cash — similar to paying for a purchase by handing over part of what you just bought.
restricted stock units (RSUs) financial
"57,274 restricted stock units (RSUs)"
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.
vest financial
"options 1/3 vest every August 1 between 2023 and 2025"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many BORR options did Harvey Edward Snowling exercise, and at what price?
Two option-exercise transactions each covered 150,000 common shares on October 13, 2026, at a $1.66 per-share exercise price. A footnote states that 150,000 options remained outstanding and exercisable.
What option amendment was reported for BORR?
A footnote says an outstanding option's expiration was extended by canceling the old option and granting a replacement; it describes the option as 100% vested and exercisable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
