Christopher T. Weber - Aug 3, 2022 Form 4 Insider Report for Valaris Ltd (VAL)

Role: SVP - CFO
Signature: /s/ Andrew Campbell, by power-of-attorney
Stock symbol: VAL
Transactions as of: Aug 3, 2022
Transactions value $: $0
Form type: 4
Date filed: 8/4/2022, 05:08 PM
Next filing: Mar 14, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VAL	Restricted Share Units	Award	$0	+15.2K		$0.00	15.2K	Aug 3, 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	+64K		$0.00	64K	Aug 3, 2022	Common Shares	64K		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 15,240 restricted stock units, which will vest in two equal installments on each of July 19, 2023 and 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 64,002 share price based performance share units, of which 21,334 will vest upon the Company's achievement of a $45 closing share price, 21,334 will vest upon the Company's achievement of a $55 closing share price, and 21,334 will vest upon the Company's achievement of a $75 closing share price, in each case held for at least 90 consecutive trading days.