Major Teekay (TK) holder logs 36.71% stake as share count rises

Rhea-AI Filing Summary

Resolute Investments, Ltd. and Path Spirit Limited report beneficial ownership of 31,936,012 Teekay Corporation shares, representing about 36.71% of the company’s outstanding common stock. This amendment notes that the percentage declined solely because Teekay’s total shares outstanding increased to 87,004,134, rather than from any share sales or purchases.

Resolute holds shared voting and dispositive power over these shares, while Path joins as the ultimate controlling person of Resolute. The filing also confirms there are no new transactions, contracts, or changes in the purpose of the investment, and includes a joint filing agreement dated May 28, 2026.

Key Figures

Beneficially owned shares: 31,936,012 shares Ownership percentage: 36.71% Shares outstanding: 87,004,134 shares +4 more

7 metrics

Beneficially owned shares 31,936,012 shares Teekay common stock beneficially owned by each reporting person

Ownership percentage 36.71% Percent of Teekay common stock represented by 31,936,012 shares

Shares outstanding 87,004,134 shares Teekay common shares outstanding as reported in Form 6-K on May 13, 2026

Shared voting power 31,936,012 shares Shares over which Resolute reports shared voting power

Shared dispositive power 31,936,012 shares Shares over which Resolute reports shared dispositive power

Amendment number Amendment No. 15 Current amendment to Schedule 13D for Teekay Corporation

Event date May 28, 2026 Date of event requiring the Schedule 13D/A filing

Key Terms

beneficial owner, shared dispositive power, Schedule 13D, charitable trust, +1 more

5 terms

beneficial owner financial

"Resolute is the beneficial owner and has shared voting and dispositive power with respect to 31,936,012 shares"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

shared dispositive power financial

"Shared Dispositive Power 31,936,012.00"

Schedule 13D regulatory

"This Amendment No. 15 to is being filed to report a decrease in the percentage beneficially owned by the reporting persons"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

charitable trust financial

"The Trust is a Bermudian charitable trust, engaged in the principal business of distributing income for charitable purposes"

Joint Filing Agreement regulatory

"Exhibit 99.1: Joint Filing Agreement, dated as of May 28, 2026, between the reporting persons"

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 15)

Teekay Corporation

(Name of Issuer)

Common stock, $0.001 par value

(Title of Class of Securities)

Y8564W103

(CUSIP Number)

Cora Lee Starzomski
Swan Building, 2nd Floor, 26 Victoria Street
Hamilton, D0, HM 12
(441) 400-7716

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

05/28/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): Y8564W103

1

Name of reporting person

Resolute Investments, Ltd.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 31,936,012.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 31,936,012.00

11

Aggregate amount beneficially owned by each reporting person

31,936,012.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

36.71 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Percentage ownership is based on an aggregate number of outstanding shares of common stock of Teekay Corporation of 87,004,134, as reported in the Form 6-K filed May 13, 2026.

SCHEDULE 13D

CUSIP Number(s): Y8564W103

1

Name of reporting person

Path Spirit Limited

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 31,936,012.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 31,936,012.00

11

Aggregate amount beneficially owned by each reporting person

31,936,012.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

36.71 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Percentage ownership is based on an aggregate number of outstanding shares of common stock of Teekay Corporation of 87,004,134, as reported in the Form 6-K filed May 13, 2026.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common stock, $0.001 par value
(b)	Name of Issuer: Teekay Corporation
(c)	Address of Issuer's Principal Executive Offices: Swan Building, 2nd Floor, 26 Victoria Street, Hamilton, BERMUDA , HM 12.
Item 1 Comment: This Amendment No. 15 to Schedule 13D is being filed to report a decrease in the percentage beneficially owned by the reporting persons solely as a result in an increase in the total number of outstanding shares, and amends Amendment No. 14 filed on February 20, 2025, Amendment No. 13 filed on November 1, 2024, Amendment No. 12 filed on September 6, 2023, Amendment No. 11 filed on May 12, 2023, Amendment No. 10 filed on January 29, 2018, Amendment No. 9 filed on July 1, 2016, Amendment No. 8 filed on December 30, 2015, Amendment No. 7, filed on December 23, 2015, Amendment No. 6, filed on December 3, 2013, Amendment No. 5, filed on November 14, 2011, Amendment No. 4, filed on August 29, 2011, Amendment No. 3, filed on February 22, 2010, Amendment No. 2, filed on April 2, 2008, Amendment No. 1, filed on March 31, 2005, and Schedule 13D filed on December 26, 2002, and relates to shares of the common stock, $0.001 par value per share, of Teekay Corporation, an exempted company existing under the laws of Bermuda (the "Issuer").
Item 2.	Identity and Background
(a)	Resolute Investments, Ltd., a Bermudian exempt company ("Resolute"), with its principal office at 2nd Floor, Swan Building, 26 Victoria Street, Hamilton, HM12, Bermuda; and Path Spirit Limited, an English company limited by guarantee ("Path"), with its principal office at 10 Norwich Street, London, EC4A 1BD, United Kingdom.
(b)	Resolute, which was formed for the purpose of holding the Issuer's securities acquired from its previous beneficial owners, Cirrus Trust and JTK Trust, is wholly owned by Kattegat Limited, a Bermudian exempt company with its principal offices at 2nd Floor, Swan Building, 26 Victoria Street, Hamilton, HM12, Bermuda. Kattegat Limited was formed for the purpose of holding and managing the endowed assets of The Kattegat Trust (the "Trust") and is wholly owned by the Trust. The Trust is a Bermudian charitable trust, engaged in the principal business of distributing income for charitable purposes, with its principal offices at Wessex House, 5th Floor, 45 Reid Street, Hamilton, HM12, Bermuda. The Co-Trustees of the Trust are Kattegat Private Trustees (Bermuda) Limited ("KPTBL") and Hamilton Trust Company Limited ("HTCL"), Bermudian trust companies each with its principal offices at Wessex House, 5th Floor, 45 Reid Street, Hamilton, HM12, Bermuda. Path is the trust protector for the Trust. KPTBL is wholly owned by The Lund Purpose Trust, a Bermudian purpose trust with its principal offices at Thistle House, 4 Burnaby Street, Hamilton, HM11, Bermuda, formed for the sole purpose of holding the shares of KPTBL. HTCL is owned 60% by Moore Stephens Bermuda L.P., a Bermuda exempted and limited partnership, and 40% by Lisvane Holdings Ltd., a local Bermuda company.
(c)	Resolute is managed by Thomas K.Y. Hsu, a Director and its President, Peter Antturi, a director and Vice President, Cora Lee Starzomski, a director and Treasurer, and Louie Cuarentas, a director and Finance Officer. The directors of Path are Axel Karlshoej, Svend Erik Kjaergaard, Poul Karlshoej, and Simon Seidelin. Axel Karlshoej, Svend Erik Kjaergaard and Poul Karlshoej are also members of Path. Thomas K.Y. Hsu is a director of CNC Industries SAM, whose address is at 14 Avenue De Grande Bretagne, MC 98000, Principality of Monaco. Peter Antturi's business address is Suite 435, 410 Georgia St. W, Vancouver, B.C. V6B 1Z3 Canada. Mr. Antturi is a business advisor and a director of Anglemont Financial Services Ltd. (a provider of administrative and clerical services) whose address is 435, 410 Georgia St. W, Vancouver, B.C. V6B 1Z3, Canada. Mr. Antturi has been a director of Teekay Corporation since 2019. Cora Lee Starzomski's business address is 2nd Floor, Swan Building, 26 Victoria Street, Hamilton, HM12 Bermuda. Ms. Starzomski is Chief Operating Officer of Kattegat Limited, whose address is 2nd Floor, Swan Building, 26 Victoria Street, Hamilton, HM12, Bermuda. Louie Cuarentas' business address is 2nd Floor, Swan Building, 26 Victoria Street, Hamilton, HM12 Bermuda. Mr. Cuarentas is Group Accountant of Kattegat Limited, whose address is 2nd Floor, Swan Building, 26 Victoria Street, Hamilton, HM12, Bermuda. Axel Karlshoej is a director of Nordic Industries, a California general construction firm whose address is 1437 Furneaux Road, Marysville, California, USA, 95961. Svend Erik Kjaergaard's business address is Nylandsvej 23, Vildbjerg 7480, Denmark. Mr. Kjaergaard is the Chairman and a director of Store Frederikslund A/S, a hunting and farming estate in Denmark. Poul Karlshoej's business address is 301 Riverside Ave, Westport, Connecticut, 06680. Mr. Karlshoej is a consultant at Anholt Services (USA), Inc., a wholly owned affiliate of the Kattegat Trust, which evaluates and advises Kattegat's interests globally. Simon Seidelin's business address is Hoeybergvej 73, 6261 Bredebro, Denmark. Mr. Seidelin is the owner of Visby Hedegard Agro ApS, an agricultural & dairy company in Denmark.
(d)	In the past five years, none of Resolute, Kattegat Limited, the Trust, the Co-Trustees, the Lund Purpose Trust or Path, nor any of the directors and executive officers named above, has been convicted in a criminal proceeding.
(e)	In the past five years, none of Resolute, Kattegat Limited, the Trust, the Co-Trustees, the Lund Purpose Trust or Path, nor any of the directors and executive officers named above, has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	Mr. Hsu is a citizen of the United Kingdom. Mr. Antturi is a citizen of Canada. Ms. Starzomski is a citizen of Canada. Mr. Cuarentas is a citizen of Canada. Mr. Axel Karlshoej is a citizen of the United States of America. Mr. Kjaegaard is a citizen of Denmark. Mr. Poul Karlshoej is a citizen of the United States of America. Mr. Seidelin is a citizen of Denmark.
Item 3.	Source and Amount of Funds or Other Consideration
	No amendment to Item 3.
Item 4.	Purpose of Transaction
	No amendment to Item 4.
Item 5.	Interest in Securities of the Issuer
(a)	31,936,012 shares of common stock of the Issuer, representing approximately 36.71% of the Issuer's outstanding common stock.
(b)	Resolute is the beneficial owner and has shared voting and dispositive power with respect to 31,936,012 shares of common stock of the Issuer. As the ultimate controlling person of Resolute, Path is joining in this Schedule 13D as a reporting person. However, the filing of this Schedule 13D shall not be construed as an admission that Path is, for any purpose, the beneficial owner of any of such shares of common stock of the Issuer.
(c)	None.
(d)	None.
(e)	None.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	No amendments to Item 6.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.1: Joint Filing Agreement, dated as of May 28, 2026, between the reporting persons.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Resolute Investments, Ltd.

Signature:	/s/ Cora Lee Starzomski
Name/Title:	Cora Lee Starzomski / Director, Treasurer and Finance Officer
Date:	05/28/2026

Path Spirit Limited

Signature:	/s/ Poul Karlshoej
Name/Title:	Poul Karlshoej / Director
Date:	05/28/2026

FAQ

What stake in Teekay Corporation (TK) does Resolute report in this Schedule 13D/A?

Resolute reports beneficial ownership of 31,936,012 shares of Teekay common stock, equal to approximately 36.71% of the outstanding shares, based on 87,004,134 shares reported outstanding in a Form 6-K dated May 13, 2026.

Why did Resolute’s percentage ownership in Teekay (TK) decrease in this amendment?

The amendment states the decrease in percentage ownership results solely from an increase in Teekay’s total outstanding common shares. Resolute’s beneficial share count remains 31,936,012; only the denominator, 87,004,134 shares outstanding, changed, reducing the ownership percentage.

Who are the reporting persons in the Teekay (TK) Schedule 13D/A Amendment No. 15?

The reporting persons are Resolute Investments, Ltd., a Bermudian exempt company, and Path Spirit Limited, an English company limited by guarantee. Path is identified as the ultimate controlling person of Resolute and acts as trust protector for The Kattegat Trust.

What voting and dispositive powers over Teekay (TK) shares does Resolute have?

Resolute reports shared voting power and shared dispositive power over 31,936,012 Teekay common shares, with no sole voting or dispositive power. This means decisions to vote or dispose of these shares are held jointly, rather than exclusively by Resolute alone.

Does Path Spirit Limited claim beneficial ownership of Teekay (TK) shares in this filing?

Path joins the filing as the ultimate controlling person of Resolute but expressly states the filing should not be construed as an admission that Path is the beneficial owner of the 31,936,012 Teekay shares for any purpose.

Are there any new contracts or arrangements regarding Teekay (TK) shares in this Schedule 13D/A?

The filing states there are no amendments to the section covering contracts, arrangements, understandings, or relationships regarding Teekay securities. The only exhibit identified is a Joint Filing Agreement dated May 28, 2026, between the reporting persons.