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Valaris (VAL) SVP Matthew Lyne gets equity true-up grant with tax withholding

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Valaris Ltd SVP and CCO Matthew Lyne received a grant of 379 common shares on April 7, 2026 as a true-up equity award correcting an earlier administrative shortfall in restricted share units. Of these, 127 vested immediately, while 126 will vest on March 3, 2027 and 126 on March 3, 2028. To cover related tax obligations, 60 shares were withheld at a price of $99.70 per share, leaving Lyne with direct ownership of 33,652 common shares. These transactions reflect routine compensation and tax withholding, not open-market trading.

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Insider Lyne Matthew
Role SVP - CCO
Type Security Shares Price Value
Grant/Award Common Shares 379 $0.00 --
Tax Withholding Common Shares 60 $99.70 $6K
Holdings After Transaction: Common Shares — 33,712 shares (Direct)
Footnotes (1)
  1. Due to an administrative error in the calculation of equity awards granted to executive officers in March 2025, fewer restricted share units were issued than were previously approved by the Compensation Committee and the Board of Directors. This grant represents a true-up award to align the number of restricted share units issued with the amounts originally approved. This grant will vest as follows: 127 restricted share units that would have vested on March 3, 2026 vested upon grant on April 7, 2026; 126 restricted share units will vest on March 3, 2027 and 126 restricted share units will vest on March 3, 2028. These shares were withheld upon settlement or vesting to enable the reporting person to satisfy tax withholding obligations that arose upon such settlement or vesting, which will be paid by the issuer to the appropriate taxing authority in cash.
Equity grant 379 common shares True-up award on April 7, 2026
Shares withheld for taxes 60 shares at $99.70 Tax withholding upon settlement/vesting
Post-transaction holdings 33,652 common shares Direct ownership after transactions
Immediate vesting portion 127 restricted share units Vested upon grant on April 7, 2026
Future vesting 2027 126 restricted share units Scheduled to vest on March 3, 2027
Future vesting 2028 126 restricted share units Scheduled to vest on March 3, 2028
restricted share units financial
"fewer restricted share units were issued than were previously approved"
Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.
true-up award financial
"This grant represents a true-up award to align the number of restricted share units"
tax withholding obligations financial
"to enable the reporting person to satisfy tax withholding obligations that arose upon such settlement or vesting"
settlement or vesting financial
"These shares were withheld upon settlement or vesting to enable the reporting person to satisfy tax withholding obligations"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Lyne Matthew
(Last)(First)(Middle)
C/O 5847 SAN FELIPE
SUITE 3300
(Street)
HOUSTON TEXAS 77057
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Valaris Ltd [ VAL ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
SVP - CCO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/07/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Shares04/07/2026A379(1)A$033,712D
Common Shares04/07/2026F60(2)D$99.733,652D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Due to an administrative error in the calculation of equity awards granted to executive officers in March 2025, fewer restricted share units were issued than were previously approved by the Compensation Committee and the Board of Directors. This grant represents a true-up award to align the number of restricted share units issued with the amounts originally approved. This grant will vest as follows: 127 restricted share units that would have vested on March 3, 2026 vested upon grant on April 7, 2026; 126 restricted share units will vest on March 3, 2027 and 126 restricted share units will vest on March 3, 2028.
2. These shares were withheld upon settlement or vesting to enable the reporting person to satisfy tax withholding obligations that arose upon such settlement or vesting, which will be paid by the issuer to the appropriate taxing authority in cash.
Remarks:
/s/ Andrew Campbell, power-of-attorney04/09/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Valaris (VAL) report for Matthew Lyne?

Valaris reported that SVP and CCO Matthew Lyne received a grant of 379 common shares on April 7, 2026 as a true-up equity award, with part vesting immediately and the rest vesting in future years.

Why did Matthew Lyne receive a true-up equity award from Valaris (VAL)?

Lyne received the grant because an administrative error in March 2025 caused fewer restricted share units to be issued than the Compensation Committee and Board had originally approved, so this award aligns his grants with those prior approvals.

How will Matthew Lyne’s new Valaris (VAL) restricted share units vest?

The true-up grant will vest in stages: 127 restricted share units vested on April 7, 2026, while 126 units will vest on March 3, 2027 and another 126 units on March 3, 2028, assuming continued eligibility.

Were any Valaris (VAL) shares sold by Matthew Lyne in this Form 4 filing?

No open-market sale occurred. Instead, 60 shares were withheld upon vesting at $99.70 per share purely to satisfy tax withholding obligations, with cash paid by Valaris to the relevant tax authorities.

How many Valaris (VAL) shares does Matthew Lyne own after these transactions?

After the grant and related tax withholding, Matthew Lyne directly owns 33,652 common shares of Valaris, according to the Form 4, reflecting his updated equity position following the true-up award.

Does this Valaris (VAL) Form 4 indicate routine compensation or market trading?

The filing reflects routine compensation activity: a corrective grant of restricted share units and tax withholding on vesting. It does not show Lyne buying or selling shares in the open market for investment purposes.