Alan Quintero - 19 Jul 2021 Form 4 Insider Report for Valaris Ltd (VAL)

Role
SVP-Business Development
Signature
/s/ Davor S. Vukadin, by Power of Attorney
Issuer symbol
VAL
Transactions as of
19 Jul 2021
Net transactions value
$0
Form type
4
Filing time
21 Jul 2021, 17:05:20 UTC
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VAL Common Shares Award $0 +29,424 $0.000000 29,424 19 Jul 2021 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction VAL Performance Share Units Award $0 +123,574 $0.000000 123,574 19 Jul 2021 Common Shares 123,574 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of a one-time grant of 29,424 restricted stock units, which will vest ratably in three installments on each of the first three anniversaries of the date of grant, with settlement of all vested restricted stock units generally deferred until the third anniversary of the date of grant.
F2 Consists of a one-time grant of up to 123,574 share price based performance share units, of which 41,191 will vest upon the Company's achievement of a $45 closing share price, 41,191 will vest upon the Company's achievement of a $55 closing share price, and 41,192 will vest upon the Company's achievement of a $75 closing share price, in each case held for at least 90 consecutive trading days