| FORM 3 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
(Country) | 2. Date of Event Requiring Statement
(Month/Day/Year) 03/18/2026 | 3. Issuer Name and Ticker or Trading Symbol
Borr Drilling Ltd [ BORR ] | |||||||||||||||
| 3a. Foreign Trading Symbol
[BORR] | 5. If Amendment, Date of Original Filed
(Month/Day/Year) | ||||||||||||||||
| 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
| 6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
|---|---|---|---|
| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Common Shares | 0(1) | D | |
| Common Shares | 0(2) | D | |
| Common Shares | 0(3) | D | |
| Common Shares | 145,000 | D | |
| Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
|---|---|---|---|---|---|---|---|
| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Employee Stock Option to Purchase Common Shares | 08/15/2025(4) | 08/15/2029 | Common Shares | 75,000 | $6.54 | D | |
| Employee Stock Option to Purchase Common Shares | 08/15/2026(4) | 08/15/2029 | Common Shares | 75,000 | $6.54 | D | |
| Employee Stock Option to Purchase Common Shares | 08/15/2027(4) | 08/15/2029 | Common Shares | 75,000 | $6.54 | D | |
| Employee Stock Option to Purchase Common Shares | 08/01/2023(5) | 08/12/2026 | Common Shares | 91,667 | $1.66 | D | |
| Employee Stock Option to Purchase Common Shares | 08/01/2025(5) | 08/12/2026 | Common Shares | 91,666 | $1.66 | D | |
| Employee Stock Option to Purchase Common Shares | 08/01/2024(5) | 08/12/2026 | Common Shares | 91,667 | $1.66 | D | |
| Employee Stock Option to Purchase Common Shares | 03/01/2024(6) | 09/01/2027 | Common Shares | 66,667 | $3.66 | D | |
| Employee Stock Option to Purchase Common Shares | 03/01/2026(6) | 09/01/2027 | Common Shares | 66,666 | $5.16 | D | |
| Employee Stock Option to Purchase Common Shares | 03/01/2025(6) | 09/01/2027 | Common Shares | 66,667 | $4.41 | D | |
| Employee Stock Option to Purchase Common Shares | 03/01/2025(7) | 11/17/2028 | Common Shares | 100,000 | $6.31 | D | |
| Employee Stock Option to Purchase Common Shares | 03/01/2027(7) | 11/17/2028 | Common Shares | 100,000 | $6.31 | D | |
| Employee Stock Option to Purchase Common Shares | 03/01/2026(7) | 11/17/2028 | Common Shares | 100,000 | $6.31 | D | |
| Explanation of Responses: |
| 1. 183,276 RSUs that vest on September 1, 2027 and are conditional on the grantee remaining in continuous employment with the Company |
| 2. 183,276 RSUs that vest on September 1, 2026 and are conditional on the grantee remaining in continuous employment with the Company |
| 3. 183,276 RSUs that vest on September 1, 2028 and are conditional on the grantee remaining in continuous employment with the Company |
| 4. Grant of options on August 15, 2024 - options 1/3 vest every August 15 between 2025 and 2027 with strike price as at date of filing |
| 5. Grant of options on August 12, 2021 - options 1/3 vest every August 1 between 2023 and 2025 with strike price as at date of filing |
| 6. Grant of options on September 1, 2022 - options 1/3 vest every March 1 between 2024 and 2026 with staggered strike price as at date of filing |
| 7. Grant of options on November 17, 2023 - options 1/3 vest every March 1 between 2025 and 2027 with strike price as at date of filing |
| Remarks: |
| /s/ Temi Bankole as attorney-in-fact | 03/18/2026 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||
| * Form 3: SEC 1473 (03-26) | ||