Valaris Ltd — Director's Dealing 2020

Mar 9, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Valaris plc (VAL)
CIK: 0000314808
Period of Report: 2020-03-05

Reporting Person: McGuinty Michael (SVP-General Counsel/Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-05	Class A Ordinary Shares	M	10706	—	Acquired	44146	Direct
2020-03-05	Class A Ordinary Shares	F	5032	$2.96	Disposed	39114	Direct
2020-03-06	Class A Ordinary Shares	M	5192	—	Acquired	44306	Direct
2020-03-06	Class A Ordinary Shares	M	11849	—	Acquired	56155	Direct
2020-03-06	Class A Ordinary Shares	F	8011	$2.32	Disposed	48144	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-03-05	Restricted Share Units	$	M	10706	Disposed		Class A Ordinary Shares (10706.0)	Direct
2020-03-06	Restricted Share Units	$	M	5192	Disposed		Class A Ordinary Shares (5192.0)	Direct
2020-03-06	Restricted Share Units	$	M	11849	Disposed		Class A Ordinary Shares (11849.0)	Direct

Footnotes

F1: On April 11, 2019, the Company effected a 1-for-4 reverse stock split. All share counts on this Form 4 are represented on a post-split basis.

F2: These shares were withheld upon vesting to enable the reporting person to satisfy tax withholding obligations that arose upon such vesting, which will be paid by the issuer to the appropriate taxing authority in cash.

F3: On March 5, 2018, the reporting person was granted 128,481 restricted share units, vesting in three equal annual installments beginning on the first anniversary of the grant date. Each restricted share unit represents the economic equivalent of one Valaris Class A ordinary share. On April 11, 2019, Valaris effected a 1-for-4 reverse stock split. All share counts on this Form 4 are represented on a post-split basis.

F4: On March 6, 2017, the reporting person was granted 62,307 restricted share units, vesting in three equal annual installments beginning on the first anniversary of the grant date. Each restricted share unit represents the economic equivalent of one Valaris Class A ordinary share. On April 11, 2019, Valaris effected a 1-for-4 reverse stock split. All share counts on this Form 4 are represented on a post-split basis.

F5: On March 6, 2019, the reporting person was granted 142,182 restricted share units, vesting in three equal annual installments beginning on the first anniversary of the grant date. Each restricted share unit represents the economic equivalent of one Valaris Class A ordinary share. On April 11, 2019, Valaris effected a 1-for-4 reverse stock split. All share counts on this Form 4 are represented on a post-split basis.