SDRL Form 4: 26,555 RSUs Vest at 60.86% Payout; 11,566 Shares Disposed at $31.97
Rhea-AI Filing Summary
Seadrill Limited (SDRL) insider reported equity changes by EVP & CFO Grant R. Creed. The filing shows vesting and disposition activity tied to performance-based restricted stock units originally granted in 2022. A certification determined 60.86% achievement of the performance goals, converting a portion of the award into 26,555 common shares which were reported as acquired. Separately, 11,566 common shares were disposed of at $31.97, leaving the reporting person with 31,417 shares beneficially owned after the transactions. The activity reflects compensation vesting rather than open-market purchases.
Positive
- Performance plan achieved at 60.86%, resulting in vested awards converted into 26,555 common shares
- Reported transactions are compensation-related, indicating alignment of executive pay with performance metrics
Negative
- Partial sale of vested shares (11,566 shares at $31.97) reduced the reporting person's stake
- Final beneficial ownership is modest at 31,417 shares, which may be immaterial relative to company size
Insights
TL;DR: Insider exercised/received performance-based RSUs at a 60.86% payout and sold part of holdings, consistent with compensation realization.
The reporting shows a performance certification leading to partial vesting of PRSUs granted in 2022 and conversion into 26,555 common shares. The subsequent reported disposition of 11,566 shares at $31.97 reduced total beneficial ownership to 31,417 shares. This pattern is typical for executive compensation realization and modest liquidity; no indication of unusual timing or market-moving transfers is present within this filing.
TL;DR: Materiality is limited; transaction sizes are small relative to typical market capitalization and appear to be compensation-related.
The filing documents the conversion of performance-based restricted stock units into common shares based on a 60.86% achievement rate and a follow-on sale of 11,566 shares at $31.97. The net post-transaction holding is 31,417 shares. For most investors, these transactions signal executive compensation realization rather than a change in corporate control or major insider repositioning.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 26,555 | $0.00 | $0.00 |
| Exercise | Common Shares | 26,555 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Shares | 11,566 | $31.97 | $370K |
Footnotes (1)
- F1. On August 6, 2022, the reporting person was granted 43,632 performance-based restricted stock units, each of which represented a contingent right to receive one common share, par value $0.01 per share (a "Common Share"), of Seadrill Limited (the "Company"). The restricted stock units could be earned based on the extent the Company maintained or exceeded set per Common Share trading prices for a period of at least 45 consecutive trading days over the period beginning on August 6, 2022 and ending on August 6, 2025. The earned restricted stock units vested subject to the reporting person's continued employment during such period. On August 27, 2025, the Joint Nomination and Remuneration Committee of the Board of Directors of the Company certified achievement of the performance goals at 60.86%.
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