Archer Limited : Settlement of restricted stock units
Hamilton, Bermuda (March 16, 2020)
Archer Limited (“the Company”) has through market purchases executed on March 16, 2020 repurchased 7,125 of the Company’s own common stock at an average price of NOK 1.8597 per share. After this transaction, the Company held a total of 25,000 treasury shares.
In connection with Archer’s long term incentive program 25,000 restricted stock units (“RSUs”) have vested and the same amount of common shares have been distributed to Archer employees. The Company has used its treasury shares for settlement.
The following primary insider was amongst the recipients of shares:
Mr. Adam Todd, General Counsel, received 6,250 shares. After this transaction, Mr. Todd holds 54,416 shares and 143,584 RSUs in Archer Limited.
After these transactions, the total number of options and RSUs outstanding in Archer Limited is 650,001 and 4,132,364 respectively.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.