Bernie G. Wolford - May 12, 2023 Form 4 Insider Report for DIAMOND OFFSHORE DRILLING, INC. (DO)

Role
President and CEO, Director
Signature
/s/ Terence W. Waldorf Attorney-in-Fact for Bernie G. Wolford
Stock symbol
DO
Transactions as of
May 12, 2023
Transactions value $
-$178,714
Form type
4
Date filed
5/16/2023, 09:37 AM
Previous filing
Mar 3, 2023
Next filing
Jan 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DO Common Stock Options Exercise +39.2K +5.69% 728K May 12, 2023 Direct F1
transaction DO Common Stock Tax liability -$179K -15.4K -2.12% $11.58 713K May 12, 2023 Direct

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 DO Restricted Stock Units Options Exercise $0 -39.2K -33.33% $0.00 78.4K May 12, 2023 Common Stock 39.2K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units convert into common stock on a one-for-one basis.
F2 On May 16, 2022, the reporting person filed a Form 4 that reported that he was granted 116,769 restricted stock units on May 12, 2022, which inadvertently understated the number of restricted stock units that he was actually granted by 886 restricted stock units. This Form 4 correctly reflects that the reporting person was granted 117,655 restricted stock units on May 12, 2022, the first installment of which vested on May 12, 2023.
F3 The restricted stock units vest in three equal annual installments on May 12, 2023, May 12, 2024 and May 12, 2025. One share of common stock will be delivered with respect to each vested restricted stock unit within 30 days after the applicable vesting date.