AI assistant
Valaris Ltd — Director's Dealing 2021
May 5, 2021
31267_dirs_2021-05-05_b8cfe460-0258-4128-83d3-f86934c056a3.zip
Director's Dealing
Open in viewerOpens in your device viewer
SEC Form 4/A — Form 4/A
Issuer: Valaris Ltd (VAL)
CIK: 0000314808
Period of Report: 2021-04-30
Reporting Person: Burke Thomas Peter (Director, President and CEO)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2021-04-30 | Restricted Share Units | $ | J | 420085 | Disposed | Class A Ordinary Shares (420085) | Direct | |
| 2021-04-30 | Share Option (right to buy) | $ | J | 244025 | Disposed | Class A Ordinary Shares (244025) | Direct | |
| 2021-04-30 | Share Appreciation Right | $ | J | 53672 | Disposed | Class A Ordinary Shares (53672) | Direct |
Footnotes
F1: On the Effective Date (as defined below), all equity or equity -based awards (including phantom awards denominated in equity, options, and equity appreciation rights) were cancelled and extinguished in accordance with the Plan (as defined below) approved by the Bankruptcy Court (as defined below).
F2: On August 19, 2020, Valaris plc ("Legacy Valaris") and certain of its wholly owned direct and indirect subsidiaries (collectively, the "Debtors") commenced
voluntary cases (the "Chapter 11 Cases") under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for
the Southern District of Texas (the "Bankruptcy Court"). On March 3, 2021, the Bankruptcy Court entered an order confirming the Debtors' Fourth Amended Joint
Chapter 11 Plan of Reorganization pursuant to Chapter 11 of the Bankruptcy Code (as amended, modified or supplemented from time to time, the "Plan").
F3: In connection with the Chapter 11 Cases and the Plan, on and prior to the Effective Date (as defined below), the Company effectuated certain restructuring
transactions, pursuant to which Valaris Limited, a Bermuda exempted company (the "Issuer") was formed and - through a series of transactions - Legacy Valaris
transferred to a subsidiary of the Issuer substantially all of the subsidiaries, and other assets, of Legacy Valaris. On April 30, 2021 (the "Effective Date"), the Plan
became effective in accordance with its terms and the Issuer emerged from chapter 11.