Insider Trends: Insider at Transocean Acquires Stock Via Option/Derivative Security Sells Portion to Pay Tax, Buy Trend Intact
05:03 PM EDT, 05/11/2021 (MT Newswires) -- Jeremy D Thigpen, Director and President & CEO, exercised options/derivative securities for 363,636 shares of Transocean (RIG) and sold 146,012 shares in the company for $575,287 to meet tax obligations on May 08, 2021. After accounting for tax obligations this transaction resulted in a net acquisition of 217,624 company shares. Following the Form 4 filing with the SEC, Thigpen owns 1,327,579 shares of the company, with a market value, based on the prior-day closing price, of $5.04 million. In addition the company has granted Thigpen stock options of which 727,273 are currently in the money and have an approximate value of $2,763,638 as of yesterday's closing price.
During the most recent 90-day period, previous to the date of this filing, there have been 24 insider transactions reported to the SEC for Transocean. These transactions came from the activities of 6 separate insiders that resulted in a net acquisition of 542,132 company shares. Relative to the preceding 90-day window of time, there are no insider transactions for the company.
This is lower than the average level of insider transactions in the 26-company Oil & Gas Drilling peer group over the last 90-day period. Activity in the peer group averaged 60.1 transactions per company, with company insiders acquiring on average 261,557 shares.
SEC Story Link http://www.sec.gov/Archives/edgar/data/1451505/000117911021005192/xslF345X03/edgar.xml
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