Form Type: 4

SEC EDGAR Link
Accession Number:0000314808-20-000108
Date:2020-06-01
Issuer: VALARIS PLC (VAL)
Original Submission Date:

Reporting Person:

FRANCIS MARY
110 CANNON STREET
LONDON, X0 EC4N 6EU

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
CLASS A ORDINARY SHARES 2020-06-01 M 2,637 a $0.00 12,280 direct
CLASS A ORDINARY SHARES 2020-06-01 M 2,533 a $0.00 14,813 direct
CLASS A ORDINARY SHARES 2020-06-01 F 2,327 d $0.32 12,486 direct
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
RESTRICTED SHARE UNITS 0.0 2020-06-01 deemed execution date M 2,637 (d) class a ordinary shares 2,637 $0.00 0 direct
RESTRICTED SHARE UNITS 0.0 2020-06-01 deemed execution date M 2,533 (d) class a ordinary shares 2,533 $0.00 2,533 direct
Footnotes
IDfootnote
f1 the restricted share units convert into class a ordinary shares on a one-for-one basis upon vesting, and the reporting person is required to pay the aggregate nominal value (par value), $0.40 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 $580.00 to valaris plc with respect to the shares actually issued upon vesting of the restricted share units. the remaining 1,187 shares were withheld and not issued to satisfy certain tax withholding obligations.
f2 the restricted share units convert into class a ordinary shares on a one-for-one basis upon vesting, and the reporting person is required to pay the aggregate nominal value (par value), $0.40 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 $557.20 to valaris plc with respect to the shares actually issued upon vesting of the restricted share units. the remaining 1,140 shares were withheld and not issued to satisfy certain tax withholding obligations.
f3 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.
f4 on june 1, 2017, the reporting person was granted 7,911 restricted share units, vesting in three equal annual installments beginning on the first anniversary of the grant date.
f5 on june 1, 2018, the reporting person was granted 7,599 restricted share units, vesting in three equal annual installments beginning on the first anniversary of the grant date.
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