Weatherford International (WFRD) Form 3 Weatherford International / David John Reed ownership change

SEC Form 3

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^*

Reed David John

(Last) (First) (Middle)

2000 ST JAMES PLACE

(Street)

HOUSTON TX 77056

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/17/2024

3. Issuer Name and Ticker or Trading Symbol
Weatherford International plc [ WFRD ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
EVP, Chief Commercial Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
Ordinary Shares	6,805	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
Restricted Share Units	(1)	(1)	Ordinary Shares	5,648	(1)	D
Restricted Share Units	(2)	(2)	Ordinary Shares	4,473	(2)	D
2021 Program Performance Share Units	(3)	(3)	Ordinary Shares	26,377	(3)	D
2022 Annual Performance Share Units	(4)	(4)	Ordinary Shares	5,648	(4)	D
2023 Annual Performance Share Units	(5)	(5)	Ordinary Shares	4,473	(5)	D

Explanation of Responses:

1. Represents restricted share units ("RSUs") granted on January 18, 2022 pursuant to the 2019 EIP. The RSUs vest in three equal installments annually over the three-year period from the date of grant.

2. Represents RSUs granted on January 18, 2023 pursuant to the 2019 EIP. The RSUs vest in three equal installments annually over the three-year period from the date of grant.

3. Represents performance share units ("PSUs") granted under the 2021 Weatherford Accelerating Growth & Efficiency Program of the Second Amended and Restated 2019 Equity Incentive Plan. The number of PSUs reported is the target award and may be subject to a payout ranging from 0% to 100% of target award depending on the actual achievement of the performance goals at the end of the performance period. The performance period is the Issuer's fiscal years beginning on January 1, 2022 ending December 31, 2024.

4. Represents PSUs granted on January 18, 2022 under the 2019 EIP. The number of PSUs reported is the target award and may be subject to a payout ranging from 0% to 200% of target award depending on the actual achievement of the performance goals at the end of the performance period. The PSUs vest based on actual performance at the end of the performance period, which is the Issuer's three fiscal years beginning on January 1, 2022 and ending December 31, 2024.

5. Represents PSUs granted on January 18, 2023 under the 2019 EIP. The number of PSUs reported is the target award and may be subject to a payout ranging from 0% to 200% of target award depending on the actual achievement of the performance goals at the end of the performance period. The PSUs vest based on actual performance at the end of the performance period, which is the Issuer's three fiscal years beginning on January 1, 2023 and ending December 31, 2025.

Remarks:

	Christine M. Morrison by Power of Attorney	01/22/2024
	** 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.
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