Borr Drilling Director Tor Olav Troim Buys 500,000 Shares for $2.2 Million
Updated
Updated · Yahoo Finance · Aug 21
Borr Drilling Director Tor Olav Troim Buys 500,000 Shares for $2.2 Million
2 articles · Updated · Yahoo Finance · Aug 21
Summary
August 14 SEC filings show Tor Olav Troim bought 500,000 Borr Drilling shares at a weighted average $4.39, lifting his total beneficial stake to 29,267,808 shares.
That holding was worth about $129.66 million at Borr's August 14 close of $4.43, leaving the director with roughly a 10% ownership interest in the offshore driller.
Drew Trust holds more than 29.1 million of those shares, while Troim directly owns 81,867 shares and also holds 54,545 restricted stock units due to vest on September 30.
The purchase came after Borr stock returned 82% over the prior 12 months, even as the company reported $1.0 billion in trailing revenue and a $240.6 million net loss.