Teekay CEO sells 132,884 shares after option exercise

Rhea-AI Filing Summary

TEEKAY CORP LTD (TK) reports that President and CEO Kenneth Hvid exercised stock options for 132,884 shares of common stock on September 11, 2026 at an exercise price of $5.81 per share and immediately sold 132,884 shares at a weighted average price of $14.2801 per share in open-market transactions. The exercised option for 132,884 underlying shares was fully used, leaving 0 derivative shares reported as held afterward, and no Rule 10b5-1 trading plan is indicated.

Insider Trade Summary

Exercise and Sale: 132,884 shares ($1.13M approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Hvid Kenneth

Role President and CEO

Sold 132,884 shs ($1.90M)

Approx. gross sale proceeds $1.90M

Approx. exercise cost $772K

Approx. pre-tax spread $1.13M

Type	Security	Shares	Price	Value
Exercise	Stock Option ("Right to Buy")	132,884	$5.81	$772K
Exercise	Common Stock	132,884	$5.81	$772K
Sale	Common Stock F1	132,884	$14.2801	$1.90M

Holdings After Transaction: Stock Option ("Right to Buy") — 0 contracts (Direct); Common Stock — 105,500 shares (Direct)

Footnotes (1)

1. F1. The transaction was executed in multiple trades at prices ranging from $14.25 to $14.355. The price reported above reflects the weighted average sale price.

Key Figures

Shares sold: 132,884 shares Weighted average sale price: $14.2801 per share Option exercise price: $5.81 per share +4 more

7 metrics

Shares sold 132,884 shares Common stock sold by CEO Kenneth Hvid on September 11, 2026

Weighted average sale price $14.2801 per share Open-market sale of 132,884 Teekay common shares

Option exercise price $5.81 per share Stock option exercised for 132,884 underlying shares of common stock

Option shares exercised 132,884 shares Stock Option ("Right to Buy") converted into common stock on September 11, 2026

Option expiration date June 7, 2033 Original expiration date of the exercised stock option grant

Sale price range $14.25–$14.355 per share Price range of multiple trades comprising the 132,884-share sale

Derivative shares after exercise 0 shares Stock Option ("Right to Buy") position following the reported exercise

Key Terms

Stock Option ("Right to Buy"), weighted average sale price, Rule 10b5-1 trading plan, derivative security

4 terms

Stock Option ("Right to Buy") financial

"security titled Stock Option ("Right to Buy") was exercised for 132,884"

weighted average sale price financial

"The price reported above reflects the weighted average sale price"

Rule 10b5-1 trading plan regulatory

"No Rule 10b5-1 trading plan is indicated for these transactions"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

derivative security financial

"Exercise or conversion of derivative security into common stock"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Teekay (TK) report for CEO Kenneth Hvid?

Teekay reported that CEO Kenneth Hvid exercised stock options for 132,884 shares of common stock at $5.81 per share and sold 132,884 shares in open-market transactions on September 11, 2026.

At what prices did the Teekay (TK) CEO sell his shares on September 11, 2026?

The CEO sold 132,884 shares at a weighted average price of $14.2801 per share. A footnote states the trades were executed in multiple transactions at prices ranging from $14.25 to $14.355 per share.

How many Teekay (TK) options did the CEO exercise and at what strike price?

The CEO exercised stock options covering 132,884 shares of Teekay common stock at an exercise price of $5.81 per share. These options were reported as fully exercised, with 0 derivative shares remaining from that grant afterward.

Were the September 11, 2026 Teekay (TK) insider trades made under a Rule 10b5-1 plan?

No. The filing’s Rule 10b5-1 checkbox is not marked as affirmative, and there is no footnote stating that the transactions were made pursuant to a Rule 10b5-1 trading plan.

What type of derivative security did the Teekay (TK) CEO exercise?

The CEO exercised a Stock Option ("Right to Buy") that was exercisable into 132,884 shares of Teekay common stock at $5.81 per share, with the option originally having an expiration date of June 7, 2033.

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

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Available on EDGAR 09/11/2026 - 06:02 PM Accepted by SEC EDGAR 09/11/2026 - 06:01 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^*

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)
09/11/2026

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	09/11/2026		M		132,884	A	$5.81	238,384	D
Common Stock	09/11/2026		S(1)		132,884	D	$14.2801	105,500	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
Stock Option ("Right to Buy")	$5.81	09/11/2026		M			132,884	06/02/2026	06/07/2033	Common Stock	132,884	$5.81	0	D

Explanation of Responses:

1. The transaction was executed in multiple trades at prices ranging from $14.25 to $14.355. The price reported above reflects the weighted average sale price.

Remarks:

	/s/ Kenneth Hvid	09/11/2026
	** 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)