Borr Drilling CAO lists $1.66 options, RSUs
Borr Drilling Ltd (BORR) reported a Form 4 for Chief Accounting Officer Jehan Mawjee that lists existing equity-based holdings rather than new share purchases or sales.
Rhea-AI Filing Summary
Borr Drilling Ltd (BORR) reported a Form 4 for Chief Accounting Officer Jehan Mawjee that lists existing equity-based holdings rather than new share purchases or sales. The filing details several employee stock options to purchase common shares with exercise prices between $1.66 and $6.54 and expirations from 2026 to 2029, each tied to specific vesting schedules. It also describes multiple tranches of restricted stock units that vest between 2024 and 2029, each contingent on continuous employment, with each RSU representing a right to receive one common share.
Positive
- None.
Negative
- None.
Insider Trade Summary
13 transactions reported
Mixed
13 txns
Insider
Mawjee Jehan
Role
Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Employee Stock Option to Purchase Common Shares F3, F4 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F3, 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 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F7 | -- | -- | -- |
| holding | Employee Stock Option to Purchase Common Shares F7 | -- | -- | -- |
| holding | Common Shares F1 | -- | -- | -- |
| holding | Common Shares F2 | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option to Purchase Common Shares — 480,000 contracts (Direct);
Common Shares — 113,729 shares (Direct)
Footnotes (7)
- F1. Includes (a) 22,910 restricted stock units (RSUs) that vest in full on September 1, 2026, (b) 22,909 RSUs that vest in full on September 1, 2027 and (c) 22,910 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. Represents (a) 15,000 restricted stock units (RSUs) that vest in full on September 1, 2027, (b) 15,000 RSUs that vest in full on September 1, 2028 and (c) 15,000 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
- F3. 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
- F4. 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.
- F5. 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
- F6. 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
- F7. 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 exercise price: $1.66 per share
Underlying shares at $1.66: 33,334 shares
Additional underlying shares at $1.66: 66,666 shares
+5 more
8 metrics
Option exercise price
$1.66 per share
Employee stock option expiring December 31, 2026 on 33,334 underlying common shares
Underlying shares at $1.66
33,334 shares
Employee stock option to purchase common shares at $1.66, expiration December 31, 2026
Additional underlying shares at $1.66
66,666 shares
Second employee stock option position at $1.66, expiration December 31, 2026
Option exercise price
$6.54 per share
Employee stock options expiring August 15, 2029 on blocks of 41,666–41,667 underlying shares
RSUs vesting September 1, 2026
22,910 RSUs
Restricted stock units vesting in full on September 1, 2026, each for one common share
RSUs vesting September 1, 2027
22,909 RSUs
Restricted stock units vesting in full on September 1, 2027, subject to continuous employment
RSUs vesting September 1, 2028
22,910 RSUs
Restricted stock units vesting in full on September 1, 2028, each for one common share
Future RSU tranches
15,000 RSUs per year
RSUs vesting in full on each of September 1, 2027, 2028 and 2029
Key Terms
restricted stock units (RSUs), contingent right to receive one common share, employee stock option, exercise price, +2 more
6 terms
restricted stock units (RSUs) financial
"Includes (a) 22,910 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.
employee stock option financial
"Employee Stock Option to Purchase Common Shares"
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 12, 2021 - options 1/3 vest"
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"
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.
staggered strike price financial
"options 1/3 vest every March 1 between 2024 and 2026 with staggered strike price"
FAQ
What insider positions did BORR’s Chief Accounting Officer report on this Form 4?
The Form 4 reports Jehan Mawjee holding employee stock options with exercise prices from $1.66 to $6.54 expiring between 2026 and 2029, plus multiple tranches of restricted stock units (RSUs) scheduled to vest between 2024 and 2029.
What are the key low-strike options reported by BORR’s CAO?
The filing lists employee stock options with an exercise price of $1.66 per share covering 33,334 and 66,666 underlying common shares, both expiring on December 31, 2026. These options are fully vested and exercisable according to the related footnotes.
What longer-dated options positions did BORR’s CAO report?
The CAO reported options with exercise prices of $6.54 per share on blocks of 41,666, 41,667, and 41,667 underlying shares, all expiring on August 15, 2029, as well as options at $6.31 and $3.66–$5.16 expiring in 2027–2028.
How are BORR RSUs for the CAO structured for 2027–2029?
The filing notes RSU tranches of 15,000 units vesting in full on each of September 1, 2027, September 1, 2028, and September 1, 2029, each conditional on continuous employment and each RSU representing a contingent right to one common share.
AI-generated analysis. How Rhea-AI works. Not financial advice.
