SPY420.86+5.94 1.43%
DIA338.78+5.82 1.75%
IXIC14,141.48+111.10 0.79%

Insider Trends: Insider at Transocean Acquires Stock Via Option/Derivative Security Sells Portion to Pay Tax, Buy Trend Intact

05/11/2021 13:19

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

[Disclaimer]
This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.