A director at Borr Drilling Ltd (NYSE: BORR) put more than $6 million of his own money into the company’s stock this week, according to a Form 4 filing disclosed with the SEC.
Tor Olav Troim, who serves as a director of the offshore drilling contractor, purchased 1,500,000 shares on August 13, 2026 at a price of $4.02 per share. The transaction totaled $6,036,750.00 and was executed as an open-market purchase, meaning Troim bought the shares directly rather than receiving them through options, grants, or other compensation arrangements.
Following the purchase, Troim’s beneficial ownership stands at 28,685,941 shares. Those shares are held indirectly, through a trust or other entity structure rather than in Troim’s own name, which is a common arrangement for insiders with significant, long-held stakes in a company.
What the Filing Shows
Form 4 filings are required whenever a company insider — officers, directors, or holders of more than 10% of a company’s stock — buys or sells shares. Because these transactions are disclosed to the SEC and made public, they offer a window into how the people closest to a company’s operations and strategy are positioning their own capital.
This particular filing is classified by our team as an open market buy, the category reserved for cases where an insider spends personal funds to acquire additional shares on the open market, as opposed to exercising options or receiving stock awards.
Why Insider Buying Draws Attention
Academic research on insider trading disclosures has found that clusters of open-market purchases by company insiders can be statistically associated with subsequent stock outperformance, on average and across large samples of filings. That said, any single transaction — including this one — reflects the decision of one individual at one point in time, and it does not by itself indicate how a stock will perform going forward.
Borr Drilling operates a fleet of jack-up rigs used in offshore oil and gas drilling, a sector where insider ownership stakes can be substantial given the capital-intensive nature of the business. Troim’s post-transaction stake of over 28.6 million shares represents a significant indirect holding in the company.
This article is based solely on information contained in the publicly filed Form 4 and is intended as informational reporting on that disclosure, not as guidance on trading decisions.
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Source: original SEC Form 4 filing.