Gilles Luca - Jul 19, 2021 Form 4 Insider Report for Valaris Ltd (VAL)

Role: Senior Vice President & COO
Signature: /s/ Davor S. Vukadin, by power-of-attorney
Stock symbol: VAL
Transactions as of: Jul 19, 2021
Transactions value $: $0
Form type: 4
Date filed: 7/21/2021, 05:02 PM
Next filing: Jul 21, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VAL	Common Shares	Award	$0	+41.4K		$0.00	41.4K	Jul 19, 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	VAL	Performance Share Units	Award	$0	+174K		$0.00	174K	Jul 19, 2021	Common Shares	174K		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Consists of a one-time grant of 41,403 restricted stock units, which will vest ratably in three installments on each of the first three anniversaries of the date of grant, with settlement of all vested restricted stockunits generally deferred until the third anniversary of the date of grant.
F2	Consists of a one-time grant of up to 173,891 share price based performance share units, of which 57,963 will vest upon the Company's achievement of a $45 closing share price, 57,964 will vest upon the Company's achievement of a $55 closing share price, and 57,964 will vest upon the Company's achievement of a $75 closing share price, in each case held for at least 90 consecutive trading days.