Girish Saligram - 12 Oct 2023 Form 4 Insider Report for Weatherford International plc (WFRD)

Signature
Christine M. Morrison by Power of Attorney
Issuer symbol
WFRD
Transactions as of
12 Oct 2023
Net transactions value
-$2,098,606
Form type
4
Filing time
13 Oct 2023, 18:50:48 UTC
Previous filing
15 Sep 2023
Next filing
22 Jan 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WFRD Ordinary Shares Options Exercise $0 +56,497 +7.6% $0.000000 802,156 12 Oct 2023 Direct F1
transaction WFRD Ordinary Shares Tax liability $2,098,606 -22,231 -2.8% $94.40 779,925 12 Oct 2023 Direct F2
holding WFRD Ordinary Shares 42,105 12 Oct 2023 Spousal Trust F3
holding WFRD Ordinary Shares 82,895 12 Oct 2023 Trust F4

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 -56,497 -100% $0.000000* 0 12 Oct 2023 Ordinary Shares 56,497 Direct F1
* 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 last installment of restricted share units ("RSUs") granted on November 17, 2020 pursuant to the Issuer's Second Amended and Restated 2019 Equity Incentive Plan (the "2019 EIP"). These RSUs vested in three equal installments on each of October 12, 2021, 2022 and 2023. RSUs convert into ordinary shares on a one-for-one basis.
F2 Transaction was a withholding of a portion of vested RSUs 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 Held in a spousal lifetime access trust, of which the reporting person's spouse is the trustee and beneficiary.
F4 Held in a trust, of which the reporting person and his spouse are the grantors, trustees and beneficiaries.