FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Weatherford International plc [ WFRD ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 01/18/2024 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Ordinary Shares | 01/18/2024 | M(1) | 2,824 | A | $0 | 9,629 | D | |||
Ordinary Shares | 01/18/2024 | M(2) | 1,491 | A | $0 | 11,120 | D | |||
Ordinary Shares | 01/18/2024 | F(3) | 1,615 | D | $94.5 | 9,505 | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Restricted Share Units | (1) | 01/18/2024 | M | 2,824 | (1) | (1) | Ordinary Shares | 2,824 | $0 | 2,824 | D | ||||
Restricted Share Units | (2) | 01/18/2024 | M | 1,491 | (2) | (2) | Ordinary Shares | 1,491 | $0 | 2,982 | D | ||||
2024 Annual Performance Share Units | (4) | 01/18/2024 | A | 3,268 | (4) | (4) | Ordinary Shares | 3,268 | $0 | 3,268 | D | ||||
Restricted Share Units | (5) | 01/18/2024 | A | 2,179 | (5) | (5) | Ordinary Shares | 2,179 | $0 | 2,179 | D | ||||
Restricted Share Units | (6) | 01/18/2024 | A | 2,724 | (6) | (6) | Ordinary Shares | 2,724 | $0 | 2,724 | D |
Explanation of Responses: |
1. Represents the vesting of restricted share units ("RSUs") granted on January 18, 2022 pursuant to the Issuer's 2019 Equity Incentive Plan, as amended and restated (the "2019 EIP"). The RSUs vest in three equal installments annually over the three-year period from the date of grant. |
2. Represents the vesting of RSUs granted on January 18, 2023 pursuant to the 2019 EIP. The RSUs vest in three equal installments annually over the three-year period from the date of grant. |
3. Transaction was a withholding of a portion of vested RSUs to satisfy the reporting person's tax withholding obligations upon vesting, pursuant to the award agreement and associated equity incentive plan under which the award was granted. |
4. Represents performance share units ("PSUs") granted on January 18, 2024 under the 2019 EIP. The number of PSUs reported is the target award and may be subject to a payout ranging from 0% to 200% of target award depending on the actual achievement of the performance goals at the end of the performance period. The PSUs vest based on actual performance at the end of the performance period, which is the Issuer's three fiscal years beginning on January 1, 2024 and ending December 31, 2026. |
5. Represents RSUs granted on January 18, 2024 pursuant to the 2019 EIP. The RSUs vest in three equal installments annually over the three-year period from the date of grant. |
6. Represents RSUs granted on January 18, 2024 pursuant to the 2019 EIP. The RSUs vest in full on the third anniversary of the date of grant. |
Remarks: |
Christine M. Morrison by Power of Attorney | 01/22/2024 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |