[6-K] Cadeler A/S American Depositary Share (each representing four (4) Current Report (Foreign Issuer)
Rhea-AI Filing Summary
Cadeler A/S (NYSE: CDLR) filed a Form 6-K disclosing insider transactions under EU Market Abuse Regulation Article 19. On 10 July 2025, two members of the executive management team received shares as settlement of vested Restricted Share Units (RSUs) granted in 2023.
- CEO Mikkel Gleerup: 130,416 new shares (ISIN DK0061412772) delivered at a technical price of NOK 0.
- CFO Peter Brogaard Hansen: 59,280 new shares delivered on the same terms.
The combined 189,696 shares will be issued outside a trading venue, implying no cash consideration but a modest increase in the company’s outstanding share count. The filing is an initial notification and fulfils regulatory disclosure duties. While the transactions strengthen management’s equity alignment, the dilution impact is immaterial given Cadeler’s current market capitalisation and share base.
Positive
- Enhanced management alignment: CEO and CFO increase direct share ownership, strengthening incentive alignment with shareholders.
Negative
- Minor dilution: Issuance of 189,696 new shares marginally increases the outstanding share count.
Insights
TL;DR: Routine RSU settlements; minimal dilution, marginal governance positive, financially neutral.
The 6-K details delivery of c.190k shares to the CEO and CFO as RSU vesting under the 2023 programme. Because the shares are issued at NOK 0, there is no cash inflow or outflow—only a bookkeeping equity increase. The dilution is less than 0.1 % of Cadeler’s outstanding shares (based on c.260 m shares), so earnings per share impact is negligible. From a governance perspective, higher insider ownership marginally aligns management with shareholders, but there is no new information on operations, backlog, or earnings. I classify the filing as not impactful for valuation or near-term trading.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
For the month of July 2025
Commission File Number: 001-41889
CADELER A/S
(Translation of registrant's name into English)
Kalvebod Brygge 43
DK-1560 Copenhagen V, Denmark
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Stock Exchange Announcement
CADELER A/S: REPORTING ON TRANSACTIONS IN CADELER A/S SHARES BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
Copenhagen, 10 July 2025: Cadeler A/S has received notifications pursuant to article 19 of the Market Abuse Regulation (EU) no. 596/2014 of the below transactions related to shares in Cadeler A/S made by persons discharging managerial responsibilities in Cadeler A/S.
Mikkel Gleerup, Chief Executive Officer, and Peter Brogaard Hansen, Chief Financial Officer, have made the transactions described in the attached notifications on the date set out therein.
Please see the attached files for further details.
For further information, please contact:
Mikkel Gleerup, CEO
+45 3246 3102
mikkel.gleerup@cadeler.com
Alexander Simmonds, EVP & CLO
+44 7376 174172
alexander.simmonds@cadeler.com
About Cadeler A/S:
Cadeler is a global leader in offshore wind installation, operations, and maintenance services. Cadeler is a pure play company, operating solely in the offshore wind industry with an uncompromising focus on safety and the environment. Cadeler owns and operates the industry’s largest fleet of jack-up offshore wind installation vessels and has for more than 10 years been a key supplier in the development of offshore wind energy to power millions of households. Cadeler’s fleet, expertise and capacity to handle the largest and most complex next-generation offshore wind installation projects positions the company to deliver exceptional services to the industry. Cadeler is committed to being at the forefront of sustainable wind farm installation and to enabling the global energy transition towards a future built on renewable energy. Cadeler is listed on the New York Stock Exchange (ticker: CDLR) and the Oslo Stock Exchange (ticker: CADLR).
To learn more, please visit www.cadeler.com.
Reporting of transactions made by persons discharging managerial responsibilities and persons closely associated with them in Cadeler A/S’ shares
| 1 | Details of the Reporting Person and their Closely Associated Persons | |
| a) | Name | Mikkel Gleerup |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification /Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Cadeler A/S |
| b) | LEI | 9845008439EUED140282 |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument and identification code |
Shares ISIN DK0061412772 |
| b) | Nature of the transaction | Delivery of the shares underlying 130,416 vested Restricted Share Units (RSUs) granted under Cadeler’s 2023 RSU Program each representing the right to receive one (1) new Cadeler share of nominally DKK 1.00 |
| | | | | | |
| c) | Price(s) and volume(s) | | Price(s) | Volume(s) | |
| | | | NOK 0 | 130,416 | |
| | | | | | |
| d) |
Aggregated information - Aggregated volume - Price |
Average price per share: NOK 0 Total number of shares: 130,416 shares Total price: NOK 0 | |||
| e) | Date of the transaction | 10 July 2025 | |||
| f) | Place of the transaction | Outside a trading venue | |||
Reporting of transactions made by persons discharging managerial responsibilities and persons closely associated with them in Cadeler A/S’ shares
| 1 | Details of the Reporting Person and their Closely Associated Persons | |
| a) | Name | Peter Brogaard Hansen |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification /Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Cadeler A/S |
| b) | LEI | 9845008439EUED140282 |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument and identification code |
Shares ISIN DK0061412772 |
| b) | Nature of the transaction | Delivery of the shares underlying 59,280 vested Restricted Share Units (RSUs) granted under Cadeler’s 2023 RSU Program each representing the right to receive one (1) new Cadeler share of nominally DKK 1.00 |
| | | | | | |
| c) | Price(s) and volume(s) | | Price(s) | Volume(s) | |
| | | | NOK 0 | 59,280 | |
| | | | | | |
| d) |
Aggregated information - Aggregated volume - Price |
Average price per share: NOK 0 Total number of shares: 59,280 shares Total price: NOK 0 | |||
| e) | Date of the transaction | 10 July 2025 | |||
| f) | Place of the transaction | Outside a trading venue | |||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: July 10, 2025 | CADELER A/S | |
| | (Registrant) | |
| | | |
| | By: | /s/ Mikkel Gleerup |
| | Name: | Mikkel Gleerup |
| | Title: | Chief Executive Officer |
FAQ
How many Cadeler (CDLR) shares did the CEO receive on 10 July 2025?
What price was paid for the RSU shares delivered to Cadeler executives?
How many shares were delivered to CFO Peter Brogaard Hansen?
Does the RSU settlement affect Cadeler’s earnings?
Why did Cadeler file this Form 6-K?
