SDRL - Vesting of restricted stock units to primary insiders
Hamilton, Bermuda, September 5, 2019 - Seadrill Limited ("Seadrill" or the "Company") announces that 65,314 Restricted Stock Units ("RSUs”) issued to primary insiders vested on September 4, 2019.
The RSUs were awarded on September 4, 2018 and entitle the recipient to receive one common share for each RSU awarded subject to the terms of the Employee Incentive Plan. The RSUs are non-transferable and one third of the full 2018 was due to vest on September 4, 2019. The remaining unvested RSU’s will be delivered without further consideration on each of the next two anniversaries of the award date.
The following primary insiders have vested RSUs shown in the table below:
|Primary Insider||Title||RSUs awarded on September 4, 2018||Number of vested RSUs||Total number of RSUs held after vesting||Total interests in Company|
|John Fredriksen||Chairman||5,105||1,701||47,457||Note (1)|
|Eugene l. Davis||Director||5,105||1,701||47,457|
|Peter J. Sharpe||Director||5,105||1,701||47,457|
|Birgitte Ringstad Vartdal||Director||5,105||1,701||47,457|
|Scott D. Vogel||Director||5,105||1,701||47,457|
|Chris Edwards||General Counsel||20,049||6,682||13,367|
- The affiliated ownership in Seadrill of Hemen Holding Limited ("Hemen"), a company indirectly controlled by trusts established by Mr John Fredriksen for the benefit of his immediate family, is 27,193,826 shares, equal to 27.19 percent of the issued shares and votes in the company, and it holds TRS agreements with underlying exposure to 3,000,000 shares. Hemen does not hold other shares or rights to shares in Seadrill.
This information is subject of the disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.