Archer Limited : Settlement of restricted stock units
Hamilton, Bermuda (March 6, 2019)
In connection with Archer’s long term incentive program 98,000 restricted stock units (“RSUs”) have vested and the same amount of common shares have been distributed to Archer employees. The Company has used treasury shares for settlement.
The following primary insiders were amongst the recipients of shares:
Mr. John Lechner, CEO, received 7,500 shares. After this transaction, Mr. Lechner holds 130,000 shares, 690,000 stock options and 130,000 RSUs in Archer Limited
Mr. Adam Todd, General Counsel, received 6,250 shares. After this transaction, Mr. Todd holds 29,500 shares and 68,500 RSUs in Archer Limited.
After these transactions, the total number of options and RSUs outstanding in Archer Limited is 1,469,433 and 2,153,900 respectively. The Company has a holding of 17,875 treasury shares.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.