Anton Dibowitz - 08 Dec 2021 Form 4 Insider Report for Valaris Ltd (VAL)

Role: President & CEO, Director
Signature: /s/ Davor Vukadin, by power-of-attorney
Issuer symbol: VAL
Transactions as of: 08 Dec 2021
Net transactions value: $0
Form type: 4
Filing time: 10 Dec 2021, 15:11:20 UTC
Previous filing: 06 Jul 2021
Next filing: 10 Jun 2022
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	+103,304	+560%	$0.000000	121,738	08 Dec 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	+511,299		$0.000000	511,299	08 Dec 2021	Common Shares	511,299		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 103,304 restricted stock units, which will vest ratably in three installments on each of the first three anniversaries of July 19, 2021, with settlement of all vested restricted stock units generally deferred until the third anniversary of July 19, 2021.
F2	Consists of a one-time grant of up to 511,299 share price based performance share units, of which 170,433 will vest upon the Company's achievement of a $45 closing share price, 170,433 will vest upon the Company's achievement of a $55 closing share price, and 170,433 will vest upon the Company's achievement of a $75 closing share price, in each case held for at least 90 consecutive trading days.