Kenneth Hvid, President and CEO of Teekay Tankers Ltd., filed a statement of changes in beneficial ownership on August 25, 2026, reporting the acquisition of 388.2719 Dividend Equivalent Rights tied to outstanding restricted stock unit awards as of August 21, 2026.

Key Highlights

  • Reporting person: Kenneth Hvid, who serves as both a Director and President and CEO of Teekay Tankers Ltd.
  • Transaction date: August 21, 2026, with the filing signed and submitted on August 25, 2026.
  • DERs acquired: 388.2719 Dividend Equivalent Rights acquired (transaction code A) on Class A Common Shares.
  • Total DERs held following transaction: 2,325.5984, held directly.
  • Dividend per share used in calculation: $0.25, divided by the fair value of common stock on the dividend payment date.
  • DER structure: Each DER is described as the economic equivalent of one share, accruing on outstanding RSUs, deferred RSUs, and previously accrued DERs.

Teekay Tankers RSU Awards and Dividend Equivalent Right Accruals

According to the filing, the 388.2719 Dividend Equivalent Rights were acquired by Kenneth Hvid in his capacity as a derivative security holder linked to three outstanding RSU awards. The filing explains that DERs also accrued on previously deferred RSUs. Teekay Tankers Ltd. (NYSE:TNK) is a tanker shipping company whose equity structure includes Class A Common Shares as the underlying security referenced in these RSU-related instruments.

The filing's explanation of responses states that the total number of accrued DERs is calculated as of the dividend record date by multiplying the dividend per share ($0.25) by the number of outstanding RSUs, deferred RSUs, and, to the extent applicable, previously accrued DERs, and then dividing the result by the fair value of the common stock on the dividend payment date. The filing further notes that DERs accrued on outstanding RSUs prior to June 2, 2026, are excluded from this figure and are instead reflected in the outstanding RSU totals. Each DER is described as the economic equivalent of one share, and the DERs vest proportionately with the RSUs to which they relate.

What Was Disclosed

The filing reported the acquisition of 388.2719 Dividend Equivalent Rights by Teekay Tankers' President and CEO Kenneth Hvid on August 21, 2026, bringing his total directly held DERs to 2,325.5984 following the transaction.