Hamilton, Bermuda (March 4, 2016)
In connection with Archer’s long term incentive program, 249,250 restricted stock units (“RSUs”) have vested and the same amount of common shares have been distributed to Archer employees.
In connection with the vesting of RSUs, Archer Limited has issued 249,250 common shares. The authorized share capital of Archer Limited is USD 10,000,000 divided into 1,000,000,000 common shares of par value USD 0.01 each. Fully paid and outstanding share capital of Archer Limited following the share capital increase is USD 581,649.66 divided into 58,164,966 fully paid common shares of par value of USD 0.01 each.
The following primary insiders were amongst the recipients of shares:
Mr. Christoph Bausch, Chief Financial Officer and EVP, received 10,000 shares. After this transaction, Mr. Bausch holds 21,485 shares, 218,000 stock options and 30,000 RSUs in Archer Limited
Mr. Max Bouthillette, President, Western Hemisphere, General Counsel, Compliance Officer and EVP, received 7,500 shares. After this transaction, Mr. Bouthillette holds 25,000 shares, 128,000 stock options and 22,500 RSUs in Archer Limited.
Mr. John Lechner, President, Eastern Hemisphere and EVP, received 7,500 shares. After this transaction, Mr. Lechner holds 7,500 shares, 101,000 stock options and 22,500 RSUs in Archer Limited
After these transactions, the total number of options and RSUs outstanding in Archer Limited is 1,720,510 and 673,625 respectively.