What does the $88.98 per share transaction in Valaris (VAL) stock represent?

The $88.98 per share transaction reflects 1,944 shares disposed to Valaris in connection with cash settlement of a portion of restricted stock units. This is a disposition to the issuer under the equity award terms, not an open-market sale.

Valaris (NYSE: VAL) director logs RSU grant, exercise and $88.98 cash settlement

Q: What did Valaris (VAL) director Kristian Johansen receive in this Form 4 filing?

Kristian Johansen received 1,984 restricted stock units (RSUs) as his annual equity retainer. These RSUs vest on the earlier of the first anniversary of the grant date or the next Valaris shareholder meeting, providing him with additional equity-linked compensation.

Q: How many Valaris (VAL) restricted stock units did Kristian Johansen exercise into shares?

Johansen exercised 4,860 restricted stock units into an equivalent number of Valaris common shares. Each RSU represents the right to receive one common share, its cash value, or a mix, according to the grant agreements and his election.

Q: Are the Valaris (VAL) Form 4 transactions open-market trades by Kristian Johansen?

No, the transactions are primarily equity compensation events : an RSU grant, RSU exercises into common shares, and a cash settlement to the issuer. The filing does not report any open-market purchases or sales under transaction codes P or S.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Valaris Ltd director Kristian Johansen reported routine equity compensation and related adjustments involving the company’s common shares and restricted stock units on June 10, 2026.

He received 1,984 restricted stock units (RSUs) as his annual equity retainer, which will vest in full on the earlier of the first anniversary of the grant date or the next annual shareholder meeting. Johansen also exercised 4,860 RSUs into an equivalent number of common shares, while 1,944 RSUs were cash settled and returned to the issuer at $88.98 per share in line with his award agreement. Following these transactions, he directly holds 7,564 common shares. All movements reflect compensation and internal settlements rather than open-market buying or selling.

Insider Trade Summary

4,860 shares exercised/converted

Mixed 4 txns

Insider Johansen Kristian

Role null

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	4,860	$0.00	--
Exercise	Common Shares	4,860	$0.00	--
Disposition	Common Shares	1,944	$88.98	$173K
Grant/Award	Common Shares	1,984	$0.00	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct, null); Common Shares — 9,508 shares (Direct, null)

Footnotes (1)

Represents the portion of restricted stock units that were cash settled in accordance with the terms of the reporting person's equity award agreement. Consists of 1,984 restricted stock units, representing the recipient's annual equity retainer, which will vest in full on the earlier of the first anniversary of the date of grant or the next annual meeting of the Company's shareholders. Each restricted stock unit represents the right to receive one Valaris common share, the cash value thereof, or a combination of shares and cash, in accordance with the grant agreements and at the election of the reporting person.

Key Figures

Annual RSU grant: 1,984 RSUs RSUs exercised: 4,860 RSUs Cash-settled shares: 1,944 shares at $88.98 +2 more

5 metrics

Annual RSU grant 1,984 RSUs Director annual equity retainer, vests by next meeting or first anniversary

RSUs exercised 4,860 RSUs Exercised into 4,860 Valaris common shares on June 10, 2026

Cash-settled shares 1,944 shares at $88.98 Disposition to issuer tied to RSU cash settlement

Post-transaction common shares 7,564 shares Common shares directly held after reported transactions

RSU settlement rate 1 share per RSU Each RSU equals one Valaris common share or its cash value

Key Terms

Restricted Stock Units, annual equity retainer, disposition to issuer, exercise or conversion of derivative security, +1 more

5 terms

Restricted Stock Units financial

"Represents the portion of restricted stock units that were cash settled in accordance with the terms..."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

annual equity retainer financial

"Consists of 1,984 restricted stock units, representing the recipient's annual equity retainer..."

disposition to issuer financial

"transaction_action": "issuer disposition", "transaction_code_description": "Disposition to issuer""

exercise or conversion of derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

election of the reporting person financial

"in accordance with the grant agreements and at the election of the reporting person."

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Form 4 Insider Transactions: What Each Field Means →

06/12/2026 - 04:23 PM

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^*

Johansen Kristian

(Last)

(First)

(Middle)

C/O CLARENDON HOUSE 2

CHURCH STREET

(Street)

HAMILTON

HM 11

(City)

(State)

(Zip)

BERMUDA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Valaris Ltd [ VAL ]

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)
06/10/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Shares	06/10/2026		M		4,860	A	$0	9,508	D
Common Shares	06/10/2026		D		1,944⁽¹⁾	D	$88.98	7,564	D
Common Shares	06/10/2026		A		1,984⁽²⁾	A	$0	9,548	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽³⁾	06/10/2026		M			4,860	⁽³⁾	⁽³⁾	Common Shares	4,860	$0	0	D

Explanation of Responses:

1. Represents the portion of restricted stock units that were cash settled in accordance with the terms of the reporting person's equity award agreement.

2. Consists of 1,984 restricted stock units, representing the recipient's annual equity retainer, which will vest in full on the earlier of the first anniversary of the date of grant or the next annual meeting of the Company's shareholders.

3. Each restricted stock unit represents the right to receive one Valaris common share, the cash value thereof, or a combination of shares and cash, in accordance with the grant agreements and at the election of the reporting person.

Remarks:

	/s/ Andrew Campbell, power-of-attorney	06/12/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Valaris (VAL) director Kristian Johansen receive in this Form 4 filing?

Kristian Johansen received 1,984 restricted stock units (RSUs) as his annual equity retainer. These RSUs vest on the earlier of the first anniversary of the grant date or the next Valaris shareholder meeting, providing him with additional equity-linked compensation.

How many Valaris (VAL) restricted stock units did Kristian Johansen exercise into shares?

Johansen exercised 4,860 restricted stock units into an equivalent number of Valaris common shares. Each RSU represents the right to receive one common share, its cash value, or a mix, according to the grant agreements and his election.

How many Valaris (VAL) common shares does Kristian Johansen hold after these transactions?

After the reported transactions, Kristian Johansen directly holds 7,564 Valaris common shares. This figure represents his position following the RSU grant, RSU exercises into common shares, and the portion of RSUs that were cash settled and returned to the issuer.

Are the Valaris (VAL) Form 4 transactions open-market trades by Kristian Johansen?

No, the transactions are primarily equity compensation events: an RSU grant, RSU exercises into common shares, and a cash settlement to the issuer. The filing does not report any open-market purchases or sales under transaction codes P or S.

How do the Valaris (VAL) RSUs in this filing work for Kristian Johansen?

Each restricted stock unit represents the right to receive one Valaris common share, its cash value, or a combination, per the grant agreements. Settlement form is elected by Johansen, enabling either share delivery, cash payment, or a mix when the RSUs vest.