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

Signature
Christine M. Morrison by Power of Attorney
Stock symbol
WFRD
Transactions as of
Oct 12, 2023
Transactions value $
-$2,098,606
Form type
4
Date filed
10/13/2023, 06:50 PM
Previous filing
Sep 15, 2023
Next filing
Jan 22, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WFRD Ordinary Shares Options Exercise $0 +56.5K +7.58% $0.00 802K Oct 12, 2023 Direct F1
transaction WFRD Ordinary Shares Tax liability -$2.1M -22.2K -2.77% $94.40 780K Oct 12, 2023 Direct F2
holding WFRD Ordinary Shares 42.1K Oct 12, 2023 Spousal Trust F3
holding WFRD Ordinary Shares 82.9K Oct 12, 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 -56.5K -100% $0.00* 0 Oct 12, 2023 Ordinary Shares 56.5K 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.