Valaris Ltd — Director's Dealing 2018

Mar 5, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Ensco plc (ESV)
CIK: 0000314808
Period of Report: 2018-03-01

Reporting Person: Knowlton John Stokes (Sr. Vice President - Technical)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-03-01	Class A Ordinary Shares	M	6981	—	Acquired	149607	Direct
2018-03-01	Class A Ordinary Shares	F	2068	$4.46	Disposed	147539	Direct
2018-03-03	Class A Ordinary Shares	F	5421	$4.42	Disposed	142118	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-03-01	Restricted Share Units	$	M	6981	Disposed		Class A Ordinary Shares (6981.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Ordinary Shares	194	Indirect

Footnotes

F1: Upon the vesting of our restricted share units, the reporting person is required to pay the aggregate nominal value (par value), $0.10 per share, of our Class A ordinary shares actually issued, in accordance with U.K. corporate law. In connection with the transaction reported above, the reporting person paid $491.30 to Ensco plc with respect to the shares actually issued upon vesting of the restricted share units. The remaining 2,068 shares were withheld and not issued to satisfy certain tax withholding obligations.

F2: These shares were withheld to satisfy tax withholding obligations that arose upon vesting.

F3: The reporting person disposed of these shares to an affiliate of the issuer upon the vesting of previously awarded restricted shares. The purpose of the disposition was to enable the reporting person to satisfy tax withholding obligations that arose upon such vesting, which will be paid to the appropriate taxing authority in cash.

F4: On February 23, 2015, the reporting person was granted 20,943 restricted share units, vesting in three equal annual installments beginning on the first anniversary of the grant date.