Hamilton, Bermuda (March 8, 2018)
In connection with Archer’s long term incentive program 180,125 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 180,125 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 1,474,620.12 consisting of 147,462,012 fully paid common shares of par value of USD 0.01 each.
The following primary insiders were amongst the recipients of shares:
Mr. John Lechner, CEO, received 7,500 shares. After this transaction, Mr. Lechner holds 122,500 shares, 695,000 stock options and 7,500 RSUs in Archer Limited
Mr. Adam Todd, General Counsel, received 6,250 shares. After this transaction, Mr. Todd holds 6,250 shares and 18,750 RSUs in Archer Limited.
After these transactions, the total number of options and RSUs outstanding in Archer Limited is 1,505,233 and 178.625 respectively.