Form 4: Valaris Ltd Director Joseph Goldschmid Reports Changes in Beneficial Ownership

Director Joseph Goldschmid reports acquisition of restricted stock units and disposal of common shares related to his role as an employee of Oak Hill Advisors, L.P. (OHA) and a board member of Valaris Ltd.

Summary

• On June 13, 2024, Joseph Goldschmid, a director of Valaris Ltd, reported changes in his beneficial ownership of the company's securities.
• He acquired 2,997 restricted stock units (RSUs) representing his annual equity retainer, which will vest on the earlier of the first anniversary of the grant date or the next annual meeting.
• He also disposed of 31,014 common shares.
• The RSUs are held for the benefit of certain clients of OHA, where Mr. Goldschmid is an employee.
• Mr. Goldschmid disclaims beneficial ownership of the securities except to the extent of his pecuniary interests.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Future Outlook

The restricted stock units will vest on the earlier of the first anniversary of the date of grant or the next annual meeting of the Company's shareholders.

Management Comments

• This filing shall not be deemed an admission that Mr. Goldschmid is or was, for the purposes of Section 16 of the Act or otherwise, a beneficial owner of any securities of the Issuer, and such beneficial ownership is and was expressly disclaimed by Mr. Goldschmid, in each case except to the extent of his pecuniary interests.

Industry Context

Form 4 filings are standard disclosures required by the SEC for corporate insiders, providing transparency into their transactions in the company's stock.

Key Dates