Teekay CFO nets 8,864 shares after RSU vesting

TEEKAY CORP LTD Chief Financial Officer Brody Speers reported equity compensation activity involving restricted stock units and related dividend equivalent rights on Common Stock.

Rhea-AI Filing Summary

TEEKAY CORP LTD Chief Financial Officer Brody Speers reported equity compensation activity involving restricted stock units and related dividend equivalent rights on Common Stock. On June 2, 2026, derivative awards were exercised and converted into shares, and new dividend equivalent rights were granted.

The filing shows derivative exercises totaling 19,065.316 Common Stock shares, alongside a grant of 2,240.3213 Dividend Equivalent Rights. To cover tax obligations, 10,201 Common Stock shares were disposed of at $11.61 per share through share withholding, leaving 8,864.3161 Common Stock shares held directly after these transactions.

Insider Trade Summary

19,065.316 shares exercised/converted

Exercise 7 txns

Insider Speers Brody

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Dividend Equivalent Rights	2,240.3213	$0.00	$0.00
Exercise	Restricted Stock Units	9,096.6611	$0.00	$0.00
Exercise	Restricted Stock Units	8,456.7345	$0.00	$0.00
Exercise	Dividend Equivalent Rights	1,511.9204	$0.00	$0.00
Exercise	Common Stock	17,553.3957	$0.00	$0.00
Exercise	Common Stock	1,511.9204	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	10,201	$11.61	$118K

Holdings After Transaction: Restricted Stock Units — 8,456.7345 contracts (Direct); Dividend Equivalent Rights — 728.4009 contracts (Direct); Common Stock — 8,864.3161 shares (Direct)

Footnotes (5)

1. F1. The DERs accrued on two outstanding RSU awards and vest proportionately with the RSUs to which they relate. The number of DERs is calculated as of the dividend record date by multiplying the dividend per share ($1.00) by the number of outstanding RSUs, and, to the extent applicable, previously accrued DERs and then dividing the result by the fair value of the common share 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. F2. 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. F3. Settlement of Dividend Equivalent Rights (DERs) that accrued on June 2, 2026 and were settled in shares on vesting of the related RSUs on June 2, 2026.
4. F4. Restricted stock units (RSUs) convert into Common Stock on a one-for-one basis.
5. F5. Settlement of Dividend Equivalent Rights (DERs) that accrued on June 2, 2026 and were settled in shares on vesting of the related RSUs on June 2, 2026.

Key Figures

Tax-withholding shares: 10,201 shares Tax-withholding price: $11.61 per share Shares from derivative exercises: 19,065.316 shares +5 more

8 metrics

Tax-withholding shares 10,201 shares Common Stock disposed of at $11.61 per share to satisfy tax or exercise obligations

Tax-withholding price $11.61 per share Price used for 10,201 Common Stock shares delivered for tax or exercise liabilities

Shares from derivative exercises 19,065.316 shares Common Stock obtained via exercise or conversion of derivative awards

Post-transaction Common Stock holding 8,864.3161 shares Direct Common Stock ownership after tax-withholding disposition

RSUs converted (block 1) 8,456.7345 units Restricted Stock Units converting into Common Stock on a one-for-one basis

RSUs converted (block 2) 9,096.6611 units Additional Restricted Stock Units converting into Common Stock one-for-one

New DER grant 2,240.3213 rights Dividend Equivalent Rights granted, each economically equivalent to one share of Common Stock

Dividend per share for DERs $1.00 per share Dividend rate used to calculate certain dividend equivalent rights accruals

Key Terms

Dividend Equivalent Rights, Restricted Stock Units, DERs, exercise or conversion of derivative security, +1 more

5 terms

Dividend Equivalent Rights financial

"Settlement of Dividend Equivalent Rights (DERs) that accrued on June 2, 2026 and were settled in shares"

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.

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.

DERs financial

"The DERs accrued on two outstanding RSU awards and vest proportionately with the RSUs to which they relate"

exercise or conversion of derivative security financial

"transaction code description: Exercise or conversion of derivative security"

grant, award, or other acquisition financial

"transaction code description: Grant, award, or other acquisition"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/03/2026 - 07:15 PM Learn about SEC filing dates

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^*

Speers Brody

(Last) (First) (Middle)

SUITE 2100, BENTALL 5

550 BURRARD STREET

(Street)

VANCOUVER V6C2K2

(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)
	Chief Financial Officer

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/02/2026		M		17,553.3957	A	(4)	17,553.3957	D
Common Stock	06/02/2026		M		1,511.9204	A	(5)	19,065.3161	D
Common Stock	06/02/2026		F		10,201	D	$11.61	8,864.3161	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Dividend Equivalent Rights	(1)	06/02/2026		A		2,240.3213		(1)	(1)	Common Stock	2,240.3213	$0	2,240.3213	D
Restricted Stock Units	(2)	06/02/2026		M			9,096.6611	(2)	(2)	Common Stock	9,096.6611	$0	0	D
Restricted Stock Units	(2)	06/02/2026		M			8,456.7345	(2)	(2)	Common Stock	8,456.7345	$0	8,456.7345	D
Dividend Equivalent Rights	(3)	06/02/2026		M			1,511.9204	(3)	(3)	Common Stock	1,511.9204	$0	728.4009	D

Explanation of Responses:

1. The DERs accrued on two outstanding RSU awards and vest proportionately with the RSUs to which they relate. The number of DERs is calculated as of the dividend record date by multiplying the dividend per share ($1.00) by the number of outstanding RSUs, and, to the extent applicable, previously accrued DERs and then dividing the result by the fair value of the common share 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. Settlement of Dividend Equivalent Rights (DERs) that accrued on June 2, 2026 and were settled in shares on vesting of the related RSUs on June 2, 2026.

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

5. Settlement of Dividend Equivalent Rights (DERs) that accrued on June 2, 2026 and were settled in shares on vesting of the related RSUs on June 2, 2026.

	/s/ Brody Speers	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)