Girish Saligram - Jan 18, 2023 Form 4 Insider Report for Weatherford International plc (WFRD)

Signature
Jonathan B. Wolens by Power of Attorney
Stock symbol
WFRD
Transactions as of
Jan 18, 2023
Transactions value $
-$594,099
Form type
4
Date filed
1/20/2023, 08:36 PM
Previous filing
Jan 6, 2023
Next filing
Feb 10, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WFRD Ordinary Shares Options Exercise $0 +28.2K +8.74% $0.00 351K Jan 18, 2023 Direct F1
transaction WFRD Ordinary Shares Tax liability -$594K -11.1K -3.16% $53.59 340K Jan 18, 2023 Direct F2

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 WFRD Restricted Share Units Options Exercise $0 -28.2K -33.33% $0.00 56.3K Jan 18, 2023 Ordinary Shares 28.2K Direct F1
transaction WFRD Restricted Share Units Award $0 +38.6K $0.00 38.6K Jan 18, 2023 Ordinary Shares 38.6K Direct F3
transaction WFRD 2023 Annual Performance Units Award $0 +90K $0.00 90K Jan 18, 2023 Ordinary Shares 90K Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the vesting of the first installment of restricted share units ("RSUs") granted on January 18, 2022 pursuant to Issuer's 2019 Equity Incentive Plan, as amended and restated (the "2019 EIP"). The RSUs vest in three equal installments over the three-year period from the date of grant.
F2 Transaction was a withholding of a portion of vested performance share units to satisfy the reporting person's tax withholding obligations upon vesting, pursuant to the award agreement and the 2019 EIP under which the award was granted.
F3 Represents RSUs granted on January 18, 2023 pursuant to the 2019 EIP. The RSUs vest in three equal installments annually over the three-year period from the date of grant.
F4 Represents performance share units ("PSUs") granted on January 18, 2023 under 2019 EIP. The number of PSUs reported is the target award and may be subject to a payout ranging from 0% to 200% of target award depending on the actual achievement of the performance goals at the end of the performance period. The PSUs vest based on actual performance at the end of the performance period, which is the Issuer's three fiscal years beginning on January 1, 2023 and ending December 31, 2025.