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Companies Valaris Ltd

Valaris (VAL): executive pay, fiscal 2025

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CEO total pay$6,054,415CEO Anton Dibowitz · source
Say-on-pay support98.36%Latest vote · source
CEO vs. named peers27th pct.Of 12 peer CEOs
CEO pay ratio55:1To the median employee · source

CEO pay, last three years

  • $6,287,972FY2023
  • $7,754,921FY2024
  • $6,054,415FY2025

CEO total pay was $6,054,415 in fiscal 2025, down from $7,754,921 in fiscal 2024.

FY2025: salary $950,000 · bonus $0 · stock awards $3,861,425 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Valaris Ltd in fiscal 2025?
As disclosed, Anton Dibowitz (President and Chief Executive Officer) was the highest-paid executive at Valaris Ltd in fiscal 2025, with total compensation of $6,054,415.
How does Valaris Ltd's chief executive pay compare to its disclosed peer group?
As disclosed, Anton Dibowitz's total compensation ranked at the 27th percentile of Valaris Ltd's disclosed peer group.
What is Valaris Ltd's CEO-to-median employee pay ratio?
As disclosed, Valaris Ltd's CEO-to-median employee pay ratio was 55:1.
How did shareholders vote on Valaris Ltd's executive compensation?
As disclosed, 98.36% of shareholders supported Valaris Ltd's executive compensation in the latest say-on-pay vote.
How much does Valaris Ltd spend in total on board compensation for fiscal 2025?
As disclosed, Valaris Ltd reported total board compensation of $1,936,140 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Anton Dibowitz$950,000$0$3,861,425$0$1,223,600$0$19,390$6,054,415
President and Chief Executive Officer
Matthew Lyne588,90301,373,1640593,615015,5492,571,231
Senior Vice President, Chief Commercial Officer
Gilles Luca550,00001,373,1640554,40068,63318,8862,565,083
Senior Vice President, Chief Operating Officer
Christopher Weber550,000—1,373,1640554,400022,3872,499,951
Senior Vice President, Chief Financial Officer
Davor Vukadin400,000150,000798,9430403,200019,6091,771,752
Senior Vice President, General Counsel and Secretary

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Anton Dibowitz$6,054,415$7,754,921$6,287,972↓ −1,700,506
Matthew Lyne2,571,2313,135,5472,443,130↓ −564,316
Gilles Luca2,565,0833,219,9163,440,854↓ −654,833
Christopher Weber2,499,9513,095,6622,436,249↓ −595,711
Davor Vukadin1,771,7521,954,7411,420,508↓ −182,989

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation philosophy is based on the principles of aligning compensation with the Company’s performance, creating long-term shareholder value and attracting and retaining top talent. We design our compensation programs to place a substantial majority of our NEOs’ pay at risk and subject to the Company’s performance (pay-for-performance) and promote alignment with shareholders through an emphasis on long-term equity-based compensation.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultant—
Clawback policytrue
Anti-hedging—
Anti-pledging—
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Anton DibowitzPSU2025-03-03—103,990—207,980$3,007,391
Anton DibowitzRSU2025-03-03——25,998—854,034
Gilles LucaRSU2025-03-03——9,246—303,731
Matthew LyneRSU2025-03-03——9,246—303,731
Matthew LynePSU2025-03-03—36,979—73,9581,069,433
Davor VukadinPSU2025-03-03—21,516—43,032622,243
Christopher WeberPSU2025-03-03—36,979—73,9581,069,433
Davor VukadinRSU2025-03-03——5,379—176,700
Christopher WeberRSU2025-03-03——9,246—303,731
Gilles LucaPSU2025-03-03—36,979—73,9581,069,433

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Anton Dibowitz$854,034$3,007,391$077.9%
Gilles Luca303,7311,069,433077.9%
Matthew Lyne303,7311,069,433077.9%
Davor Vukadin176,700622,243077.9%
Christopher Weber303,7311,069,433077.9%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Davor VukadinRSU2,452—$123,581
Christopher WeberRSU4,214—212,386
Gilles LucaRSU4,214—212,386
Matthew LyneRSU4,214—212,386
Davor VukadinRSU5,379—271,102
Christopher WeberRSU9,246—465,998
Gilles LucaRSU9,246—465,998
Matthew LyneRSU9,246—465,998
Anton DibowitzRSU11,850—597,240
Davor VukadinRSU14,709—741,334
Christopher WeberRSU25,280—1,274,112
Gilles LucaRSU25,280—1,274,112
Matthew LyneRSU25,280—1,274,112
Anton DibowitzRSU25,998—1,310,299
Davor VukadinRSU43,032—2,168,813
Anton DibowitzRSU71,090—3,582,936
Christopher WeberRSU73,958—3,727,483
Gilles LucaRSU73,958—3,727,483
Matthew LyneRSU73,958—3,727,483
Anton DibowitzRSU207,980—10,482,192
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Elizabeth D. LeykumIndependent · Board Chair · Compensation · Nominating and Governance · Audit$180,000$324,547$0—$0$504,547
Catherine J. HughesIndependent · Nominating and Governance (Chair) · Safety and Sustainability (Chair) · Audit100,000283,9900—0383,990
Dick FagerstalIndependent · Safety and Sustainability · Audit100,000272,3630—0372,363
Joseph GoldschmidIndependent · Compensation (Chair) · Nominating and Governance · Nomination and Governance100,000249,2010—0349,201
Kristian JohansenIndependent · Compensation · Safety and Sustainability100,000226,0390—0326,039
Anton DibowitzEmployee director—————0

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$175,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)50,000 / 30,000 / 30,000
Stock ownership guideline$5

Total cost of the board

ComponentFY2025
Cash retainers and fees$580,000
Equity awards (grant-date value)$1,356,140
All other compensation$0
Total cost of the board$1,936,140

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Valaris as a peer

Companies that benchmark against VAL

4 companies name VAL as a compensation peer

Each company listed discloses VAL in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named VAL in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

The companies Valaris Ltd names as compensation peers that name it back in their own disclosed peer groups.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Nabors Industries Ltd.2025Anthony Petrello$1,750,000$5,352,354$0$2,049,275$29,636,103
2Baker Hughes Company2025Lorenzo Simonelli1,710,00013,310,81903,557,70621,363,825
3Halliburton Company2025Jeffrey Miller1,700,0007,992,78205,944,83616,525,407
4NOV Inc.2025Clay Williams1,000,0009,576,940899,2081,129,49212,713,187
5Patterson-UTI Energy, Inc.2025William Hendricks1,300,0008,497,99102,264,33012,077,321
6Helmerich Payne, Inc.2025John Lindsay1,179,9095,749,95701,559,0169,010,799
7Transocean Ltd.2025Keelan Adamson933,3335,771,95701,820,0008,793,715
8Oceaneering International, Inc.2025Roderick Larson910,0002,027,79604,282,4257,735,670
9Valaris Ltd2025Anton Dibowitz950,0003,861,42501,223,6006,054,415
10Tidewater, Inc.2025Quintin Kneen750,0003,892,45801,078,1255,732,208
11Oil States International, Inc.2025Cindy Taylor925,0002,400,00301,654,2445,079,386
12Helix Energy Solutions Group, Inc.2025Owen Kratz800,0003,838,5190420,0005,067,269

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Valaris Ltdnot disclosednot disclosednot disclosednot disclosed
Baker Hughes Company113.5%PSU 50 · RSU 50Yes — Relative TSRFrederic W. Cook & Co., Inc.
Halliburton Companynot disclosednot disclosedYes — Total Shareholder Return (TSR)not disclosed
Helix Energy Solutions Group, Inc.35%PSU 50 · RSU 50Yes — TSR relative to performance peer groupWTW (Willis Towers Watson)
Helmerich Payne, Inc.109.09%PSU 50 · RSU 50Yes — Total Stockholder Return (TSR)Willis Towers Watson
Nabors Industries Ltd.not disclosednot disclosedYes — Relative Total Shareholder Return (TSR)Pay Governance
NOV Inc.87%PSU 50 · RSU 40 · Options 10Yes — TSR (total shareholder return) goalMeridian Compensation Partners
Oceaneering International, Inc.124%not disclosedYes — Relative TSRMeridian Compensation Partners, LLC
Oil States International, Inc.not disclosedRSU 50 · PRSU 25 · Cash Performance Award 25not disclosedMeridian Compensation Partners
Patterson-UTI Energy, Inc.not disclosedPSU 50 · RSU 50Yes — Total Stockholder Return (TSR)Pay Governance LLC
Tidewater, Inc.not disclosednot disclosednot disclosedMeridian Compensation Partners, LLC
Transocean Ltd.not disclosedPSU 50 · RSU 50NoPay Governance LLC

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-1055,748,798928,586447,03798.36%Passed
20252025-06-1245,268,3072,256,640768,63495.25%Passed
20242024-06-1256,320,0741,747,22439,68896.99%Passed
20232023-06-0756,537,2851,027,491548,31598.22%Passed
20222022-06-0845,773,9152,242,142326,90995.33%Passed
20202020-06-1589,428,2946,054,5343,510,19490.34%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.

Say-on-pay — history, company’s computation

Meeting yearMeeting dateApproval — company’s computation
20262026-06-1098.36%a
20252025-06-1295.25%b
20242024-06-1296.99%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

CEO pay ratio

Ratio (CEO : median employee)55 : 1
CEO total compensation$6,054,415
Median employee compensation$110,026
Insider trades since the proxy

No insider equity transactions reported since the proxy statement.

Sources (43 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Anton Dibowitz. DEF 14A, filed 2026-04-16. Section “Summary Compensation Table” · page 48. As printed: 6,054,415. View filing ↗
  • Section 01, Matthew Lyne. DEF 14A, filed 2026-04-16. Section “Summary Compensation Table” · page 48. As printed: 2,571,231. View filing ↗
  • Section 01, Gilles Luca. DEF 14A, filed 2026-04-16. Section “Summary Compensation Table” · page 48. As printed: 2,565,083. View filing ↗
  • Section 01, Christopher Weber. DEF 14A, filed 2026-04-16. Section “Summary Compensation Table” · page 48. As printed: 2,499,951. View filing ↗
  • Section 01, Davor Vukadin. DEF 14A, filed 2026-04-16. Section “Summary Compensation Table” · page 48. As printed: 1,771,752. View filing ↗
  • Section 03, Anton Dibowitz PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
  • Section 03, Anton Dibowitz RSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
  • Section 03, Gilles Luca RSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
  • Section 03, Matthew Lyne RSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
  • Section 03, Matthew Lyne PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
  • Section 03, Davor Vukadin PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
  • Section 03, Christopher Weber PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
  • Section 03, Davor Vukadin RSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
  • Section 03, Christopher Weber RSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
  • Section 03, Gilles Luca PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-04-16. Section “CEO Pay Ratio”. As printed: 55 : 1. View filing ↗
  • Section 08, Elizabeth D. Leykum. DEF 14A, filed 2026-04-16. Section “Director Compensation”. As printed: 504,547. View filing ↗
  • Section 08, Catherine J. Hughes. DEF 14A, filed 2026-04-16. Section “Director Compensation”. As printed: 383,990. View filing ↗
  • Section 08, Dick Fagerstal. DEF 14A, filed 2026-04-16. Section “Director Compensation”. As printed: 372,363. View filing ↗
  • Section 08, Joseph Goldschmid. DEF 14A, filed 2026-04-16. Section “Director Compensation”. As printed: 349,201. View filing ↗
  • Section 08, Kristian Johansen. DEF 14A, filed 2026-04-16. Section “Director Compensation”. As printed: 326,039. View filing ↗
  • Section 08, Anton Dibowitz. DEF 14A, filed 2026-04-16. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-06-10. Item 5.07 · say-on-pay result. As reported: 98.36% (votes for as printed: 55,748,798). View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-06-13. Item 5.07 · say-on-pay result. As reported: 95.25% (votes for as printed: 45,268,307). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-06-17. Item 5.07 · say-on-pay result. As reported: 96.99% (votes for as printed: 56,320,074). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Section 09b board cost (computed). Computed. Cash 580,000 + equity 1,356,140 + all other 0 = 1,936,140, summed across the director compensation table rows.
  • Nabors Industries Ltd., Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in Nabors Industries Ltd.'s own proxy. As printed: 29,636,103. View filing ↗
  • Baker Hughes Company, Section 10b CEO total. DEF 14A, filed 2026-03-30. CEO total compensation as printed in Baker Hughes Company's own proxy. As printed: 21,363,825. View filing ↗
  • Halliburton Company, Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Halliburton Company's own proxy. As printed: 16,525,407. View filing ↗
  • NOV Inc., Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in NOV Inc.'s own proxy. As printed: 12,713,187. View filing ↗
  • Patterson-UTI Energy, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-13. CEO total compensation as printed in Patterson-UTI Energy, Inc.'s own proxy. As printed: 12,077,321. View filing ↗
  • Helmerich Payne, Inc., Section 10b CEO total. DEF 14A, filed 2026-01-22. CEO total compensation as printed in Helmerich Payne, Inc.'s own proxy. As printed: 9,010,799. View filing ↗
  • Transocean Ltd., Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Transocean Ltd.'s own proxy. As printed: 8,793,715. View filing ↗
  • Oceaneering International, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Oceaneering International, Inc.'s own proxy. As printed: 7,735,670. View filing ↗
  • Valaris Ltd (subject), Section 10b CEO total. DEF 14A, filed 2026-04-16. CEO total compensation as printed in Valaris Ltd's own proxy. As printed: 6,054,415. View filing ↗
  • Tidewater, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Tidewater, Inc.'s own proxy. As printed: 5,732,208. View filing ↗
  • Oil States International, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Oil States International, Inc.'s own proxy. As printed: 5,079,386. View filing ↗
  • Helix Energy Solutions Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in Helix Energy Solutions Group, Inc.'s own proxy. As printed: 5,067,269. View filing ↗
  • Section 10a, Transocean Ltd. reciprocity. DEF 14A. Transocean Ltd. names Valaris Ltd in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Nabors Industries Ltd. reciprocity. DEF 14A. Nabors Industries Ltd. names Valaris Ltd in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Patterson-UTI Energy, Inc. reciprocity. DEF 14A. Patterson-UTI Energy, Inc. names Valaris Ltd in its own disclosed peer group (read from its most recent proxy). View filing ↗
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