Valaris Ltd — Director's Dealing 2021

Jul 21, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Valaris Ltd (VAL)
CIK: 0000314808
Period of Report: 2021-07-19

Reporting Person: Luca Gilles (Senior Vice President & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-07-19	Common Shares	A	41403	—	Acquired	41403	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-07-19	Performance Share Units	$	A	173891	Acquired		Common Shares (173891.0)	Direct

Footnotes

F1: Consists of a one-time grant of 41,403 restricted stock units, which will vest ratably in three installments on each of the first three anniversaries of the date of grant, with settlement of all vested restricted stockunits generally deferred until the third anniversary of the date of grant.

F2: Consists of a one-time grant of up to 173,891 share price based performance share units, of which 57,963 will vest upon the Company's achievement of a $45 closing share price, 57,964 will vest upon the Company's achievement of a $55 closing share price, and 57,964 will vest upon the Company's achievement of a $75 closing share price, in each case held for at least 90 consecutive trading days.