0001603923-22-000063.txt : 20220419 0001603923-22-000063.hdr.sgml : 20220419 20220419171001 ACCESSION NUMBER: 0001603923-22-000063 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220415 FILED AS OF DATE: 20220419 DATE AS OF CHANGE: 20220419 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Mills Desmond J CENTRAL INDEX KEY: 0001861969 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36504 FILM NUMBER: 22835591 MAIL ADDRESS: STREET 1: 2000 ST. JAMES PLACE CITY: HOUSTON STATE: TX ZIP: 77056 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Weatherford International plc CENTRAL INDEX KEY: 0001603923 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] IRS NUMBER: 980606750 FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 2000 ST. JAMES PLACE CITY: HOUSTON STATE: TX ZIP: 77056 BUSINESS PHONE: 713.836.4000 MAIL ADDRESS: STREET 1: 70 SIR JOHN ROGERSON'S QUAY CITY: DUBLIN STATE: L2 ZIP: 2 FORMER COMPANY: FORMER CONFORMED NAME: Weatherford International Ltd DATE OF NAME CHANGE: 20140328 4 1 wf-form4_165040258226254.xml FORM 4 X0306 4 2022-04-15 0 0001603923 Weatherford International plc WFRD 0001861969 Mills Desmond J 2000 ST. JAMES PLACE HOUSTON TX 77056 0 1 0 0 SVP & Chief Accounting Officer Ordinary Shares 2022-04-15 4 M 0 15440 0 A 15440 D Ordinary Shares 2022-04-15 4 F 0 3760 38.40 D 11680 D Ordinary Shares 2022-04-15 4 M 0 7625 0 A 19305 D Ordinary Shares 2022-04-15 4 D 0 7625 34.0965 D 11680 D Restricted Share Units 2022-04-15 4 M 0 15440 0 D Ordinary Shares 15440.0 15439 D Phantom Restricted Share Units 2022-04-15 4 M 0 7625 0 D Ordinary Shares 7625.0 0 D Represents the vesting of the first installment of restricted share units ("RSUs") granted on April 15, 2021 pursuant to Issuer's Second Amended and Restated 2019 Equity Incentive Plan (the "2019 EIP"). The RSUs vest in two equal installments over the two-year period from the date of grant. 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 the 2019 EIP under which the award was granted. Represents the deemed acquisition of the ordinary shares underlying the vested portion of phantom restricted share units ("Phantom RSUs") as a result of the election by the Committee administering the 2019 EIP to settle the 2021 Phantom RSU awards entirely in cash (see footnote 6 below). Represents the deemed disposition to the issuer of the ordinary shares underlying the vested portion of Phantom RSUs as a result of the election by the Committee administering the 2019 EIP to settle the 2021 Phantom RSU awards entirely in cash (see footnote 6 below). Price represents the volume weighted price of the Company's ordinary shares averaged for the thirty trading days immediately preceding the vesting date. Represents the vesting of the Phantom RSUs granted on April 15, 2021 pursuant to the 2019 EIP. These Phantom RSUs vest in two equal installments over the two-year period from the date of grant and may be settled in cash, ordinary shares or any combination of cash and ordinary shares; provided that if settled in cash, the cumulative cash payout may not exceed a predetermined amount specified in the Reporting Person's offer letter (the "Maximum Cash Payout"). At the election of the Committee administering the 2019 EIP, it was determined that the 2021 Phantom RSU awards would be settled entirely in cash. As a result of the Maximum Cash Payout, the Reporting Person is reporting the vesting, deemed acquisition and deemed disposition of 7,625 ordinary shares. As a result of the Maximum Cash Payout having been satisfied, the remaining 15,023 ordinary shares underlying the 22,648 Phantom RSUs previously reported will not vest and have been cancelled. Jonathan B. Wolens by Power of Attorney 2022-04-19