Teekay Tankers CCO exercises RSUs, covers taxes
Teekay Tankers Ltd. Chief Commercial Officer Mikkel Seidelin reported mostly compensation-related share movements on June 2, 2026.
Rhea-AI Filing Summary
Teekay Tankers Ltd. Chief Commercial Officer Mikkel Seidelin reported mostly compensation-related share movements on June 2, 2026. Restricted stock units and related dividend equivalent rights vested and were settled into Class A Common Shares on a one-for-one basis, increasing his direct equity stake.
To cover tax obligations at vesting, 2,349 Class A Common Shares were withheld and delivered, which the company notes is not a market transaction. After these exercises, Seidelin holds about 10,522 Class A Common Shares directly, with previously outstanding RSUs substantially converted into common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
4,993.1747 shares exercised/converted
Exercise
9 txns
Insider
Seidelin Mikkel
Role
Chief Commercial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Dividend Equivalent Rights | 638.1322 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 1,098.2847 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 597.7019 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 887.015 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 2,323.2988 | $0.00 | $0.00 |
| Exercise | Dividend Equivalent Rights | 86.8743 | $0.00 | $0.00 |
| Exercise | Class A Common Shares | 4,906.3005 | $0.00 | $0.00 |
| Exercise | Class A Common Shares | 86.8743 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Class A Common Shares | 2,349 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 6,130.3013 contracts (Direct);
Dividend Equivalent Rights — 551.2579 contracts (Direct);
Class A Common Shares — 8,259.6609 shares (Direct)
Footnotes (6)
- F1. The DERs accrued on five 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 ($1.25) 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.
- F2. Restricted stock units (RSUs) convert into Class A Common Shares 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.
- 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.
- F4. Restricted stock units (RSUs) convert into Class A Common Shares on a one-for-one basis.
- 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.
- F6. Represents shares withheld to pay tax withholding obligations due on the date of vesting of RSUs; not a market transaction.
Key Figures
Tax withholding shares: 2,349 shares
Derivative exercises: 4,993.1747 shares
Class A holdings after transactions: 10,521.7866 shares
+5 more
8 metrics
Tax withholding shares
2,349 shares
Class A Common Shares withheld for tax obligations on June 2, 2026
Derivative exercises
4,993.1747 shares
Total shares from derivative exercises (M-code) reported in summary
Class A holdings after transactions
10,521.7866 shares
Direct Class A Common Shares following one non-derivative M transaction
RSU conversion 1
2,323.2988 RSUs
Restricted Stock Units converting into Class A Common Shares one-for-one
RSU conversion 2
1,098.2847 RSUs
Additional RSUs converting into Class A Common Shares one-for-one
Dividend equivalent rights grant
638.1322 DERs
New DERs granted, economically equivalent to Class A Common Shares
Tax withholding count
1 transaction
F-code disposition for tax withholding; not a market transaction
Exercise transactions
5 transactions
M-code exercises or conversions of derivative securities
Key Terms
Restricted stock units (RSUs), Dividend Equivalent Rights (DERs), tax withholding obligations, derivative security, +1 more
5 terms
Restricted stock units (RSUs) financial
"Restricted stock units (RSUs) convert into Class A Common Shares on a one-for-one basis."
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
Dividend Equivalent Rights (DERs) financial
"Settlement of Dividend Equivalent Rights (DERs) that accrued on June 2, 2026 and were settled in shares on vesting of the related RSUs."
tax withholding obligations financial
"Represents shares withheld to pay tax withholding obligations due on the date of vesting of RSUs; not a market transaction."
derivative security financial
"Exercise or conversion of 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.
grant, award, or other acquisition financial
"Grant, award, or other acquisition"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Teekay Tankers (TNK) CCO Mikkel Seidelin report in this Form 4?
Mikkel Seidelin reported vesting and settlement of restricted stock units and related dividend equivalent rights into Class A Common Shares, along with shares withheld for taxes. These are compensation-related events rather than open-market purchases or sales.
What are dividend equivalent rights in the Teekay Tankers Form 4 filing?
Dividend equivalent rights, or DERs, give Seidelin the economic value of dividends on RSUs as if they were shares. The filing notes each DER is economically equivalent to one share and vests proportionately with the related RSUs.
How were Teekay Tankers RSUs treated in this Form 4 for Mikkel Seidelin?
The filing states restricted stock units convert into Class A Common Shares on a one-for-one basis. RSUs vested on June 2, 2026, and the reported amounts include DERs that accrued on these RSUs before that vesting date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
