Davor Vukadin - 01 Jun 2022 Form 4 Insider Report for Valaris Ltd (VAL)

Role: SVP & General Counsel
Signature: /s/ Andrew Campbell, by power-of-attorney
Issuer symbol: VAL
Transactions as of: 01 Jun 2022
Net transactions value: $0
Form type: 4
Filing time: 02 Jun 2022, 18:37:06 UTC
Previous filing: 02 Jun 2022
Next filing: 21 Jul 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	+5,347	+56%	$0.000000	14,962	01 Jun 2022	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	+22,452		$0.000000	22,452	01 Jun 2022	Common Shares	22,452		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 5,347 restricted stock units, which will vest in three installments, with 10% vesting on July 19, 2022, 45% vesting on July 19, 2023 and 45% vesting on July 19, 2024, with settlement of all vested restricted stock units generally deferred until July 19, 2024.
F2	Consists of a one-time grant of up to 22,452 share price based performance share units, of which 7,484 will vest upon the Company's achievement of a $45 closing share price, 7,484 will vest upon the Company's achievement of a $55 closing share price, and 7,484 will vest upon the Company's achievement of a $75 closing share price, in each case held for at least 90 consecutive trading days.