Valaris (VAL) COO reports equity true-up grant and tax withholding

Rhea-AI Filing Summary

Valaris Ltd senior vice president and COO Luca Gilles reported a small equity compensation adjustment and related tax withholding in company common shares. Gilles received 379 common shares as a grant or award tied to restricted share units.

The filing notes this is a true-up award correcting an administrative error from March 2025 so that Gilles’ restricted share units match amounts previously approved by the compensation committee and board. After 50 shares were withheld to cover tax obligations at a price of $99.70 per share, Gilles directly holds 83,551 common shares. The grant includes units that vested immediately on April 7, 2026 and additional units scheduled to vest on March 3, 2027 and March 3, 2028.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Luca Gilles

Role SVP - COO

Type	Security	Shares	Price	Value
Grant/Award	Common Shares	379	$0.00	--
Tax Withholding	Common Shares	50	$99.70	$5K

Holdings After Transaction: Common Shares — 83,601 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.

Key Figures

Equity grant: 379 shares Tax withholding shares: 50 shares Withholding reference price: $99.70 per share +4 more

7 metrics

Equity grant 379 shares Common shares awarded as grant/award acquisition

Tax withholding shares 50 shares Withheld upon vesting to satisfy tax obligations

Withholding reference price $99.70 per share Value used for shares withheld for taxes

Post-transaction holdings 83,551 shares Common shares directly held after reported transactions

Immediate vesting units 127 restricted share units Units that 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

Key Terms

restricted share units, true-up award, tax withholding obligations, settlement or vesting

4 terms

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"

Form 4 Insider Transactions: What Each Field Means →

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^*

Luca Gilles

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP - COO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/07/2026

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 Shares	04/07/2026		A		379(1)	A	$0	83,601	D
Common Shares	04/07/2026		F		50(2)	D	$99.7	83,551	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

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, by power-of-attorney	04/09/2026
	** 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)

FAQ

What did Valaris (VAL) executive Luca Gilles report in this Form 4 filing?

Luca Gilles reported receiving 379 Valaris common shares as an equity grant and having 50 shares withheld for taxes. The grant corrects a prior under-issuance of restricted share units and is compensation-related rather than an open-market stock purchase or sale.

Why did Valaris (VAL) grant a true-up equity award to Luca Gilles?

The company discovered an administrative error in calculating equity awards granted in March 2025, which resulted in too few restricted share units. This grant is a true-up to align Gilles’ units with the amounts previously approved by the compensation committee and board.

How many Valaris (VAL) shares does Luca Gilles hold after these transactions?

After the grant and related tax withholding, Gilles directly holds 83,551 Valaris common shares. This reflects the net position following receipt of 379 shares as a compensation award and the withholding of 50 shares to satisfy associated tax obligations.

Were any of Luca Gilles’ Valaris (VAL) transactions open-market buys or sells?

No. The filing shows a grant/award of 379 shares at $0.00 and a disposition of 50 shares for tax withholding at $99.70. These events are compensation and tax-related, not discretionary open-market purchases or sales of Valaris stock.

How will the Valaris (VAL) restricted share units granted to Luca Gilles vest?

The footnote states 127 restricted share units that would have vested on March 3, 2026 instead vested upon grant on April 7, 2026. An additional 126 units will vest on March 3, 2027 and 126 units will vest on March 3, 2028 under the adjusted schedule.

What does the tax withholding in Luca Gilles’ Valaris (VAL) Form 4 represent?

The 50 shares shown as a disposition were withheld upon settlement or vesting to cover tax obligations arising from the award. Valaris will remit the corresponding cash value to the taxing authorities, so this is not an open-market sale by Gilles.