Teekay (NYSE: TK) CEO Kenneth Hvid reports RSU grants and exercises

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

TEEKAY CORP LTD President and CEO Kenneth Hvid reported compensation-related equity transactions involving restricted stock units and related rights. He received 149,458.2603 Deferred Restricted Stock Units, each representing a vested right to one share of common stock, bringing his deferred RSU balance to 375,340.5381 units.

Hvid also exercised two blocks of Restricted Stock Units into common stock, covering 73,038.1766 and 76,420.0836 underlying shares. In addition, 38,620.0443 Dividend Equivalent Rights were granted or accrued, with each right economically equivalent to one share and tied to dividends on outstanding and deferred RSUs.

The footnotes explain that RSUs convert into common stock on a one-for-one basis and vested on June 2, 2026, and that dividend equivalent rights are calculated based on a $1.00 dividend per share and the fair value of the common stock on the dividend payment date.

Insider Trade Summary

149,458.26 shares exercised/converted

Mixed 4 txns

Insider Hvid Kenneth

Role President and CEO

Type	Security	Shares	Price	Value
Grant/Award	Dividend Equivalent Rights	38,620.044	$0.00	--
Exercise	Restricted Stock Units	76,420.084	$0.00	--
Exercise	Restricted Stock Units	73,038.177	$0.00	--
Grant/Award	Deferred Restricted Stock Units	149,458.26	$0.00	--

Holdings After Transaction: Dividend Equivalent Rights — 38,620.044 shares (Direct, null); Restricted Stock Units — 0 shares (Direct, null); Deferred Restricted Stock Units — 375,340.538 shares (Direct, null)

Footnotes (1)

19,455.7 DERs accrued on two outstanding RSU awards and vest proportionately with the RSUs to which they relate. 19,164.3 DERs also accrued on previously deferred RSUs. The total number of accrued DERs is calculated as of the dividend record date by multiplying the dividend per share ($1.00) by the number of outstanding RSUs, deferred RSUs and, to the extent applicable, previously accrued DERs and then dividing the result by the fair value of the common stock on the dividend payment date. Each DER is the economic equivalent of one share. Excludes DERs that accrued on outstanding RSUs prior to June 2, 2026, which are reflected in outstanding RSUs. Restricted stock units (RSUs) convert into Common Stock on a one-for-one basis. The RSUs vested on June 2, 2026. Amounts reported include DERs that accrued on the RSUs prior to June 2, 2026. Deferral of RSUs that vested on June 2, 2026 and related deferral of DERs that accrued on such RSUs on June 2, 2026. Each deferred RSU represents a vested right to receive one share of common stock of the issuer. The vested units may be released at the time the reporting person elects, no later than 10 years from the grant date.

Key Figures

Deferred RSU grant: 149,458.2603 units Deferred RSU holdings: 375,340.5381 units RSU exercise block 1: 73,038.1766 shares +4 more

7 metrics

Deferred RSU grant 149,458.2603 units Deferred Restricted Stock Units granted on June 2, 2026

Deferred RSU holdings 375,340.5381 units Deferred Restricted Stock Units following the transaction

RSU exercise block 1 73,038.1766 shares Restricted Stock Units exercised into common stock

RSU exercise block 2 76,420.0836 shares Restricted Stock Units exercised, reducing that award to zero

Dividend Equivalent Rights grant 38,620.0443 rights DERs granted or accrued, each equal to one share

Dividend per share input $1.00 per share Used to calculate accrued Dividend Equivalent Rights

Derivative exercises 2 transactions, 149,458.2602 units Exercise or conversion of derivative securities (RSUs)

Key Terms

Deferred Restricted Stock Units, Restricted Stock Units, Dividend Equivalent Rights, DERs

4 terms

Deferred Restricted Stock Units financial

"Deferral of RSUs that vested on June 2, 2026 and related deferral"

Deferred restricted stock units are promises by a company to give employees or executives company shares at a future date, subject to conditions like continued employment or performance targets; the delivery and tax event are intentionally delayed. They matter to investors because they affect when new shares may be issued and how executives are motivated—like a paycheck held in escrow that vests over time, influencing potential share dilution and management behavior.

Restricted Stock Units financial

"Restricted stock units (RSUs) convert into Common Stock on a one-for-one basis."

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.

Dividend Equivalent Rights financial

"19,455.7 DERs accrued on two outstanding RSU awards and vest proportionately"

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

DERs financial

"The total number of accrued DERs is calculated as of the dividend record date"

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Form 4 Insider Transactions: What Each Field Means →

06/03/2026 - 07:02 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hvid Kenneth

(Last)

(First)

(Middle)

SUITE 2100, BENTALL 5

550 BURRARD STREET

(Street)

VANCOUVER

V6C 2K2

(City)

(State)

(Zip)

BRITISH COLUMBIA, CANADA

(Country)

2. Issuer Name and Ticker or Trading Symbol
TEEKAY CORP LTD [ TK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/02/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Dividend Equivalent Rights	⁽¹⁾	06/02/2026		A		38,620.0443		⁽¹⁾	⁽¹⁾	Common Stock	38,620.0443	$0	38,620.0443	D
Restricted Stock Units	⁽²⁾	06/02/2026		M			76,420.0836	⁽²⁾	⁽²⁾	Common Stock	76,420.0836	$0	0	D
Restricted Stock Units	⁽²⁾	06/02/2026		M			73,038.1766	⁽²⁾	⁽²⁾	Common Stock	73,038.1766	$0	73,038.1766	D
Deferred Restricted Stock Units	⁽³⁾	06/02/2026		A		149,458.2603		⁽³⁾	⁽³⁾	Common Stock	149,458.2603	$0	375,340.5381	D

Explanation of Responses:

1. 19,455.7 DERs accrued on two outstanding RSU awards and vest proportionately with the RSUs to which they relate. 19,164.3 DERs also accrued on previously deferred RSUs. The total number of accrued DERs is calculated as of the dividend record date by multiplying the dividend per share ($1.00) by the number of outstanding RSUs, deferred RSUs and, to the extent applicable, previously accrued DERs and then dividing the result by the fair value of the common stock on the dividend payment date. Each DER is the economic equivalent of one share. Excludes DERs that accrued on outstanding RSUs prior to June 2, 2026, which are reflected in outstanding RSUs.

2. Restricted stock units (RSUs) convert into Common Stock on a one-for-one basis. The RSUs vested on June 2, 2026. Amounts reported include DERs that accrued on the RSUs prior to June 2, 2026.

3. Deferral of RSUs that vested on June 2, 2026 and related deferral of DERs that accrued on such RSUs on June 2, 2026. Each deferred RSU represents a vested right to receive one share of common stock of the issuer. The vested units may be released at the time the reporting person elects, no later than 10 years from the grant date.

	/s/ Kenneth Hvid	06/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What equity awards did Teekay (TK) CEO Kenneth Hvid report?

Kenneth Hvid reported compensation-related equity awards, including 149,458.2603 Deferred Restricted Stock Units and 38,620.0443 Dividend Equivalent Rights. He also exercised two blocks of Restricted Stock Units into common stock, reflecting routine equity compensation activity rather than open-market share purchases or sales.

How many Deferred Restricted Stock Units does the Teekay (TK) CEO hold after this Form 4?

After this activity, Kenneth Hvid holds 375,340.5381 Deferred Restricted Stock Units. Each deferred unit represents a vested right to receive one share of Teekay common stock, which may be released at a time he elects, but no later than 10 years from the grant date.

What Restricted Stock Unit exercises did Teekay (TK) CEO Kenneth Hvid complete?

Kenneth Hvid exercised two Restricted Stock Unit awards into common stock, covering 73,038.1766 and 76,420.0836 underlying shares. These RSUs vest and convert into Teekay common shares on a one-for-one basis, representing a shift from derivative awards into direct stock ownership as part of compensation.

What are Dividend Equivalent Rights in the Teekay (TK) CEO’s Form 4?

Dividend Equivalent Rights (DERs) are awards economically equivalent to one share each, tied to dividends on RSUs and deferred RSUs. Hvid received 38,620.0443 DERs, calculated using a $1.00 dividend per share and the stock’s fair value on the dividend payment date, enhancing his equity-linked compensation.

Are Kenneth Hvid’s Teekay (TK) transactions open-market buys or sells?

The reported transactions are not open-market buys or sells. They involve grants of Deferred Restricted Stock Units and Dividend Equivalent Rights, plus exercises of existing Restricted Stock Units into common shares. All are compensation-related equity transactions rather than discretionary stock purchases or sales in the market.