Borr Drilling (BORR) COO details extensive option grants and 171,821 shares
Rhea-AI Filing Summary
Borr Drilling Ltd Chief Operating Officer Harvey Edward Snowling reported his equity positions, primarily as holdings of employee stock options and common shares. He holds options to purchase 75,000 common shares at an exercise price of $6.5400 expiring on August 15, 2029, and separate options for 100,000 shares at $6.3100 expiring on November 17, 2028. Additional grants cover 120,000 shares at exercise prices of $3.6600, $4.4100, and $5.1600 expiring on September 1, 2027, and 150,000 shares at $1.6600 expiring on December 31, 2026. Snowling also directly owns 171,821 common shares, including restricted stock units that fully vest in tranches of 57,274, 57,273, and 57,274 shares on September 1 of 2026, 2027, and 2028, respectively. One option grant originally dated August 12, 2021 was amended to extend its expiration date through a replacement option, which is fully vested and exercisable.
Positive
- None.
Negative
- None.
Insider Trade Summary
13 transactions reported
Mixed
13 txns
Insider
Snowling Harvey Edward
Role
Chief Operating 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 — 1,335,000 shares (Direct);
Common Shares — 171,821 shares (Direct)
Footnotes (6)
- F1. 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
- F2. 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
- F3. 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
- F4. 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
- 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
Direct common shares held: 171,821 shares
Option block at $6.5400: 75,000 shares at $6.5400
Option block at $6.3100: 100,000 shares at $6.3100
+5 more
8 metrics
Direct common shares held
171,821 shares
Directly held common shares including RSUs as referenced in footnote F1
Option block at $6.5400
75,000 shares at $6.5400
Employee stock option expiring August 15, 2029
Option block at $6.3100
100,000 shares at $6.3100
Employee stock option expiring November 17, 2028
Option block at $3.6600
120,000 shares at $3.6600
Employee stock option expiring September 1, 2027
Option block at $4.4100
120,000 shares at $4.4100
Employee stock option expiring September 1, 2027
Option block at $5.1600
120,000 shares at $5.1600
Employee stock option expiring September 1, 2027
Option block at $1.6600
150,000 shares at $1.6600
Amended 2021 option grant expiring December 31, 2026
RSU vesting 2026
57,274 RSUs
RSUs vesting in full on September 1, 2026, contingent on continuous employment
Key Terms
restricted stock units, Employee Stock Option, 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.
Employee Stock Option financial
"Employee Stock Option to Purchase Common Shares with specified exercise prices and dates"
An employee stock option is a promise that lets a worker buy company shares later at a predetermined price, often after they stay for a certain period or meet performance goals — think of it like a coupon that locks in today's price for a future purchase. It matters to investors because options align employees’ incentives with company performance, can increase the number of shares outstanding (dilution) when exercised, and represent a compensation cost that affects reported profits and shareholder value.
exercise price financial
"Grant of options on August 15, 2024 - options 1/3 vest 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
"amendment of an outstanding option to extend the expiration date, resulting in 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 did BORR COO Harvey Edward Snowling report in this Form 4?
Harvey Edward Snowling reported holdings of Borr Drilling Ltd equity, including multiple employee stock option grants at specified exercise prices and expiration dates, plus 171,821 directly held common shares with associated restricted stock units.
What are the key employee stock option blocks reported by BORR COO Snowling?
Snowling reported options for 75,000 shares at $6.5400 expiring August 15, 2029, and 100,000 shares at $6.3100 expiring November 17, 2028, along with additional blocks of 120,000 and 150,000 shares at lower exercise prices and earlier expirations.
How are Harvey Snowling’s Borr Drilling (BORR) RSUs structured?
His holdings include RSUs in three tranches: 57,274 vesting September 1, 2026, 57,273 vesting September 1, 2027, and 57,274 vesting September 1, 2028, each contingent on continuous employment and each representing one common share upon vesting.
Were any Borr Drilling (BORR) option terms amended for Harvey Snowling?
Yes. A footnote states that an August 12, 2021 option grant was amended to extend its expiration date, cancelling the old option and granting a replacement option that is 100% vested and exercisable with a new expiration of December 31, 2026.
Are Harvey Snowling’s Borr Drilling (BORR) option holdings reported as trades or just positions?
The entries are reported as holdings of employee stock options and common shares, with no explicit buy or sell transaction codes. The structured data indicates holdings and vesting schedules rather than newly executed market trades.
AI-generated analysis. How Rhea-AI works. Not financial advice.
