Teekay director sells shares after option exercise

TEEKAY CORP LTD director Locke Simon Heidi reported an option exercise and related share sale.

Rhea-AI Filing Summary

TEEKAY CORP LTD director Locke Simon Heidi reported an option exercise and related share sale. On June 22, 2026, the director exercised stock options to acquire 18,119 shares of Common Stock at $3.98 per share and then sold 18,119 shares in an open-market sale at a weighted average price of $12.3746 per share, with individual trades ranging from $12.33 to $12.41. After these transactions, the director directly owned 47,581.5095 Common Stock shares, and the exercised stock option labeled "Stock Option ("Right to Buy")" was fully exhausted.

Insider Trade Summary

Exercise and Sale: 18,119 shares ($152K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Locke Simon Heidi

Role Director

Sold 18,119 shs ($224K)

Approx. gross sale proceeds $224K

Approx. exercise cost $72K

Approx. pre-tax spread $152K

Type	Security	Shares	Price	Value
Exercise	Stock Option ("Right to Buy")	18,119	$3.98	$72K
Exercise	Common Stock	18,119	$3.98	$72K
Sale	Common Stock	18,119	$12.3746	$224K

Holdings After Transaction: Stock Option ("Right to Buy") — 0 contracts (Direct); Common Stock — 47,581.5095 shares (Direct)

Footnotes (1)

1. F1. The transaction was executed in multiple trades at prices ranging from $12.33 to $12.41. The price reported above reflects the weighted average sale price.

Key Figures

Shares sold: 18,119 shares Weighted average sale price: $12.3746 per share Option exercise price: $3.98 per share +2 more

5 metrics

Shares sold 18,119 shares Open-market sale of Common Stock on June 22, 2026

Weighted average sale price $12.3746 per share Common Stock sale, trades between $12.33 and $12.41

Option exercise price $3.98 per share Exercise of stock option ("Right to Buy") for 18,119 shares

Shares after transaction 47,581.5095 shares Common Stock directly owned following June 22, 2026 transactions

Exercised option balance 0 options Stock Option ("Right to Buy") remaining after full exercise of 18,119 shares

Key Terms

open-market sale, Stock Option ("Right to Buy"), derivative security, weighted average sale price

4 terms

open-market sale financial

"classified as an open-market sale with transaction code "S""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Stock Option ("Right to Buy") financial

"the derivative security is labeled Stock Option ("Right to Buy")"

derivative security financial

"the option exercise is described as an exercise or conversion of a derivative security"

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.

weighted average sale price financial

"the price reported reflects the weighted average sale price for multiple trades"

FAQ

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

What did Teekay (TK) director Locke Simon Heidi do in this Form 4?

The director exercised stock options for 18,119 Teekay shares at $3.98 and sold 18,119 shares in the open market. These transactions converted an option position into common stock and then into cash.

How many Teekay (TK) shares did the director sell and at what price?

The director sold 18,119 Teekay common shares in the open market at a weighted average price of $12.3746 per share. Individual trade prices ranged between $12.33 and $12.41 according to the filing footnote.

What stock options were exercised in the Teekay (TK) Form 4 filing?

The filing shows exercise of a "Stock Option ("Right to Buy")" covering 18,119 underlying Teekay common shares at an exercise price of $3.98 per share. Following the exercise, the remaining balance of this option position was reported as zero.

How many Teekay (TK) shares does the director hold after these transactions?

After the reported exercise and sale, the director directly holds 47,581.5095 Teekay common shares. This figure reflects the position following completion of both the option exercise and the related open-market sale on June 22, 2026.

Was the Teekay (TK) director’s transaction an open-market sale?

Yes. The Form 4 classifies the 18,119-share disposition as an open-market sale, with transaction code "S" and a weighted average sale price of $12.3746 per share, executed in multiple trades between $12.33 and $12.41.

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

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Accepted by SEC EDGAR 06/22/2026 - 06:07 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^*

Locke Simon Heidi

(Last) (First) (Middle)

C/O TEEKAY

2ND FL, SWAN BUILDING, 26 VICTORIA ST

(Street)

HAMILTON HM 12

(City) (State) (Zip)

BERMUDA

(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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/22/2026

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	06/22/2026		M		18,119	A	$3.98	65,700.5095	D
Common Stock	06/22/2026		S		18,119	D	$12.3746(1)	47,581.5095	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")	$3.98	06/22/2026		M			18,119	03/14/2019	03/14/2029	Common Stock	18,119	$3.98	0	D

Explanation of Responses:

1. The transaction was executed in multiple trades at prices ranging from $12.33 to $12.41. The price reported above reflects the weighted average sale price.

Remarks:

	/s/ Heidi Locke Simon	06/22/2026
	** 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)