Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
17 November 2023 - 9:38PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
Commission File Number 001-39007
Borr Drilling Limited
2nd Floor 9 Par-la-Ville Road
Hamilton HM11
Bermuda
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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BORR DRILLING LIMITED
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Date: November 17, 2023
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By:
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/s/ Mi Hong Yoon
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Name:
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Title:
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Director
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Exhibit 99.1
Borr Drilling Limited – Grant of Restricted Stock Units and Share Options
Bermuda, November 17, 2023: The Board of Directors of Borr Drilling Limited (the "Company") (OSE and NYSE "BORR") has today resolved to grant 112,780 Restricted Stock Units
(each, a “RSU”) to its Directors, and 2,100,000 share options (each, an “Option”) under the Company’s approved share option scheme to certain of its employees.
Each RSU represents one share in the Company. The RSUs will vest in full on September 30, 2024, and will be conditional on continuing to serve as a Director of the Company
at the date of vesting. The RSUs will be settled through issuance of shares in the Company.
Each Option gives the right to subscribe for one share in the Company. The Options will have a strike price of $6.65 and will vest equally over a three year period
commencing on March 1, 2025. The Options will expire five years from the date of grant.
Persons discharging managerial responsibilities (“PDMRs”), as defined by the (EU) Market Abuse Regulation, have been granted and accepted the following RSUs and Options:
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Tor Olav Troim – Chaiman of the Board – 22,556 RSUs
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Kate Blankenship – Director – 22,556 RSUs
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Neil Glass – Director – 22,556 RSUs
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Dan Rabun – Director – 22,556 RSUs
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Jeffrey Currie – Director – 22,556 RSUs
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Magnus Vaaler – Chief Financial Officer – 300,000 Options
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Please see the attached form of notification and public disclosure by the PDMRs.
This information is subject to the disclosure requirements in article 19 of the Regulation (EU) 596/2014 (the Market Abuse Regulation) and section 5-12 of the Norwegian
Securities Trading Act.
Exhibit 99.2
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1
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Details of the person discharging managerial responsibilities/person closely associated
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a)
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Name
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Tor Olav Trøim
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2
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Reason for the notification
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a)
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Position/status
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Director and Chairman
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b)
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Initial notification/Amendment
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Initial notification
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3
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Details of issuer
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a)
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Name
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Borr Drilling Limited
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b)
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LEI
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213800J2JPCTXLHQ5R78
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a)
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Description of the financial instrument, type of instrument
Identification code
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Restricted Stock Unit representing common shares in Borr Drilling Limited (ISIN: BMG1466R1732)
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b)
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Nature of the transaction
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Award
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c)
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Price(s) and volume(s)
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Price(s)
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Volume(s)
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6.65
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22,556
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d)
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Aggregated information
— Aggregated volume
— Price
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22,556 RSUs for a total of USD 150,000
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e)
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Date of the transaction
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17/11/2023
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f)
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Place of the transaction
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XOSL – Oslo Børs
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1
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Details of the person discharging managerial responsibilities/person closely associated
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a)
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Name
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Alexandra Kate Blankenship
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2
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Reason for the notification
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a)
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Position/status
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Director
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b)
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Initial notification/Amendment
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Initial notification
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3
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Details of issuer
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a)
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Name
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Borr Drilling Limited
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b)
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LEI
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213800J2JPCTXLHQ5R78
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a)
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Description of the financial instrument, type of instrument
Identification code
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Restricted Stock Unit representing common shares in Borr Drilling Limited (ISIN: BMG1466R1732)
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b)
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Nature of the transaction
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Award
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c)
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Price(s) and volume(s)
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Price(s)
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Volume(s)
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6.65
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22,556
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d)
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Aggregated information
— Aggregated volume
— Price
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22,556 RSUs for a total of USD 150,000
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e)
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Date of the transaction
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17/11/2023
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f)
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Place of the transaction
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XOSL – Oslo Børs
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1
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Details of the person discharging managerial responsibilities/person closely associated
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a)
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Name
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Neil James Glass
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2
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Reason for the notification
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a)
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Position/status
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Director
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b)
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Initial notification/Amendment
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Initial notification
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3
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Details of issuer
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a)
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Name
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Borr Drilling Limited
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b)
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LEI
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213800J2JPCTXLHQ5R78
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a)
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Description of the financial instrument, type of instrument
Identification code
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Restricted Stock Unit representing common shares in Borr Drilling Limited (ISIN: BMG1466R1732)
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b)
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Nature of the transaction
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Award
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c)
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Price(s) and volume(s)
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Price(s)
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Volume(s)
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6.65
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22,556
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d)
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Aggregated information
— Aggregated volume
— Price
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22,556 RSUs for a total of USD 150,000
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e)
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Date of the transaction
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17/11/2023
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f)
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Place of the transaction
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XOSL – Oslo Børs
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1
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Details of the person discharging managerial responsibilities/person closely associated
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a)
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Name
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Daniel Wayne Rabun
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2
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Reason for the notification
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a)
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Position/status
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Director
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b)
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Initial notification/Amendment
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Initial notification
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3
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Details of issuer
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a)
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Name
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Borr Drilling Limited
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b)
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LEI
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213800J2JPCTXLHQ5R78
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a)
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Description of the financial instrument, type of instrument
Identification code
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Restricted Stock Unit representing common shares in Borr Drilling Limited (ISIN: BMG1466R1732)
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b)
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Nature of the transaction
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Award
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c)
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Price(s) and volume(s)
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Price(s)
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Volume(s)
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6.65
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22,556
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d)
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Aggregated information
— Aggregated volume
— Price
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22,556 RSUs for a total of USD 150,000
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e)
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Date of the transaction
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17/11/2023
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f)
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Place of the transaction
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XOSL – Oslo Børs
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1
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Details of the person discharging managerial responsibilities/person closely associated
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a)
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Name
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Jeffrey Robert Currie
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2
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Reason for the notification
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a)
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Position/status
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Director
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b)
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Initial notification/Amendment
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Initial notification
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3
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Details of issuer
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a)
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Name
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Borr Drilling Limited
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b)
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LEI
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213800J2JPCTXLHQ5R78
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a)
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Description of the financial instrument, type of instrument
Identification code
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Restricted Stock Unit representing common shares in Borr Drilling Limited (ISIN: BMG1466R1732)
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b)
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Nature of the transaction
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Award
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c)
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Price(s) and volume(s)
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Price(s)
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Volume(s)
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6.65
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22,556
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d)
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Aggregated information
— Aggregated volume
— Price
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22,556 RSUs for a total of USD 150,000
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e)
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Date of the transaction
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17/11/2023
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f)
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Place of the transaction
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XOSL – Oslo Børs
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1
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Details of the person discharging managerial responsibilities/person closely associated
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a)
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Name
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Magnus Vaaler
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2
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Reason for the notification
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a)
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Position/status
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Chief Financial Officer
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b)
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Initial notification/Amendment
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Initial notification
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3
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Details of issuer
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a)
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Name
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Borr Drilling Limited
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b)
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LEI
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213800J2JPCTXLHQ5R78
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a)
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Description of the financial instrument, type of instrument
Identification code
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Derivative, options for shares in Borr Drilling Limited (ISIN: BMG1466R1732)
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b)
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Nature of the transaction
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Granting/acceptance of share options
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c)
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Price(s) and volume(s)
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Price(s)
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Volume(s)
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0.00
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300,000
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d)
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Aggregated information
— Aggregated volume
— Price
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300,000 options awarded for a price of $0.00 with strike price $6.65.
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e)
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Date of the transaction
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17/11/2023
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f)
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Place of the transaction
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Outside a trading venue
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