Borr Drilling CAO sells 10,903 shares for taxes
Borr Drilling’s chief accounting officer sold shares to cover RSU tax withholding while retaining significant RSU and stock option positions.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Borr Drilling Ltd (BORR) reported that Chief Accounting Officer Jehan Mawjee sold 10,903 common shares on September 3, 2026 at $4.8023 per share. A footnote states this sale was effected solely to satisfy tax withholding obligations from vesting RSUs and was not a discretionary sale. Mawjee continues to hold time-based RSUs and multiple option grants over Borr Drilling common shares with exercise prices ranging from $1.66 to $6.54 and expirations between 2026 and 2029.
Insider Trade Summary
Net Seller: 10,903 shares
Net Sell
1 txn
Insider
Mawjee Jehan
Role
Chief Accounting Officer
Sold
10,903 shs ($52K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Shares F1, F2 | 10,903 | $4.8023 | $52K |
| Holding | Employee Stock Option to Purchase Common Shares F4, F5 | -- | -- | -- |
| Holding | Employee Stock Option to Purchase Common Shares F4, 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 | 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 | Common Shares F3 | -- | -- | -- |
Holdings After Transaction:
Common Shares — 102,826 shares (Direct);
Employee Stock Option to Purchase Common Shares — 0 contracts for 480,000 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) 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
- F3. 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
- F4. 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
- F5. 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.
- F6. 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
- 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
- F8. 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
Key Figures
Common shares sold: 10,903 shares
Sale price per share: $4.8023 per share
RSUs vesting September 1, 2026: 22,910 RSUs
+5 more
8 metrics
Common shares sold
10,903 shares
Sale by Chief Accounting Officer on September 3, 2026
Sale price per share
$4.8023 per share
Price for 10,903 BORR common shares sold September 3, 2026
RSUs vesting September 1, 2026
22,910 RSUs
RSUs that vest in full on September 1, 2026, each for one common share
RSUs vesting September 1, 2027
22,909 RSUs
Time-based RSUs vesting on September 1, 2027
RSUs vesting September 1, 2028
22,910 RSUs
Time-based RSUs vesting on September 1, 2028
Additional RSU tranches
15,000 RSUs per year
Separate RSU grants vesting in full on September 1 of 2027, 2028 and 2029
Low-end option exercise price
$1.66 per share
Employee stock options expiring December 31, 2026 on 33,334 and 66,666 underlying shares
High-end option exercise price
$6.54 per share
Employee stock options expiring August 15, 2029 on several 41,666–41,667 share tranches
Key Terms
restricted stock units (RSUs), tax withholding obligations, vesting, exercise price, +1 more
5 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.
tax withholding obligations financial
"sale was effected solely to satisfy tax withholding obligations arising"
vesting financial
"RSUs that vest in full on September 1, 2026"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
exercise price financial
"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
"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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did BORR’s Chief Accounting Officer report in this Form 4?
The Chief Accounting Officer, Jehan Mawjee, reported selling 10,903 BORR common shares on September 3, 2026. The filing explains that the sale was executed solely to cover tax withholding obligations arising from vesting restricted stock units (RSUs).
Was the BORR insider sale under a Rule 10b5-1 trading plan?
No. The Form 4 indicates no Rule 10b5-1 trading plan; the document-level checkbox is not affirmed, and the relevant footnote states the sale was made solely to meet tax withholding from RSU vesting, not as a discretionary or planned trading program.
What RSU holdings does the BORR officer report after this transaction?
Footnotes state holdings include (a) 22,910 RSUs vesting September 1, 2026, (b) 22,909 RSUs vesting September 1, 2027, and (c) 22,910 RSUs vesting September 1, 2028, plus separate blocks of 15,000 RSUs vesting in each of 2027, 2028, and 2029.
Were any BORR stock options amended in this Form 4?
Yes. A footnote explains one reported transaction amended an outstanding option originally granted August 12, 2021, extending the expiration date to December 31, 2026. The option is described as 100% vested and exercisable at an exercise price of $1.66 per share.
AI-generated analysis. How Rhea-AI works. Not financial advice.
