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<title>wft-20210415</title></head><body><div style="display:none"><ix:header><ix:hidden><ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" name="dei:EntityCentralIndexKey" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV80L2ZyYWc6OWQ4YWU4NGU4ZjE1NDllNDk1NWFkNDc5MmNmZTg5OTUvdGFibGU6MDk5Yzg3N2FjMjU1NDczYThhNWRkNzE4NTkwNmU1NmUvdGFibGVyYW5nZTowOTljODc3YWMyNTU0NzNhOGE1ZGQ3MTg1OTA2ZTU2ZV8yLTEtMS0xLTA_e64e7755-65c4-4130-982c-60143637cbe7">0001603923</ix:nonNumeric><ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" name="dei:AmendmentFlag" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV80L2ZyYWc6OWQ4YWU4NGU4ZjE1NDllNDk1NWFkNDc5MmNmZTg5OTUvdGFibGU6MDk5Yzg3N2FjMjU1NDczYThhNWRkNzE4NTkwNmU1NmUvdGFibGVyYW5nZTowOTljODc3YWMyNTU0NzNhOGE1ZGQ3MTg1OTA2ZTU2ZV8zLTEtMS0xLTA_f8a2b9c2-fec6-4d1f-9c48-b89626dd6f58">false</ix:nonNumeric></ix:hidden><ix:references xml:lang="en-US"><link:schemaRef xlink:type="simple" xlink:href="wft-20210415.xsd"></link:schemaRef></ix:references><ix:resources><xbrli:context id="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001603923</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-04-15</xbrli:startDate><xbrli:endDate>2021-04-15</xbrli:endDate></xbrli:period></xbrli:context></ix:resources></ix:header></div><div id="ic9d23d15852e4b06a3dd3c0c603c9b9a_1"></div><div style="min-height:45pt;width:100%"><div><span><br/></span></div></div><div style="padding-left:18pt;padding-right:18pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.293%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:120%">UNITED STATES</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">WASHINGTON, D.C. 20549</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:120%">FORM <ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" name="dei:DocumentType" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV8xL2ZyYWc6N2E0M2Y0ZTkyYjkzNDFjMDg0NTExNTkwNTk1NjJmM2MvdGV4dHJlZ2lvbjo3YTQzZjRlOTJiOTM0MWMwODQ1MTE1OTA1OTU2MmYzY18xNTc0_544c1e9a-de4e-4f00-8759-2dff9094bc80">8-K</ix:nonNumeric></span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">CURRENT REPORT</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Pursuant to Section&#160;13 or 15(d) of the Securities Exchange Act of 1934</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Date of Report (Date of earliest event reported): <ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV8xL2ZyYWc6N2E0M2Y0ZTkyYjkzNDFjMDg0NTExNTkwNTk1NjJmM2MvdGV4dHJlZ2lvbjo3YTQzZjRlOTJiOTM0MWMwODQ1MTE1OTA1OTU2MmYzY18yMjg_76b1938d-a2f1-4bfa-b89b-63e25ec9cb0a">April 15, 2021</ix:nonNumeric></span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:22pt;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" name="dei:EntityRegistrantName" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV8xL2ZyYWc6N2E0M2Y0ZTkyYjkzNDFjMDg0NTExNTkwNTk1NjJmM2MvdGV4dHJlZ2lvbjo3YTQzZjRlOTJiOTM0MWMwODQ1MTE1OTA1OTU2MmYzY18xNTc1_eb838e5d-c857-4de8-a9dd-fc22cf78f887">Weatherford International plc</ix:nonNumeric> </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Exact name of registrant as specified in its charter)</span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.435%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" format="ixt-sec:edgarprovcountryen" name="dei:EntityIncorporationStateCountryCode" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV8xL2ZyYWc6N2E0M2Y0ZTkyYjkzNDFjMDg0NTExNTkwNTk1NjJmM2MvdGFibGU6ZmI1MmU4OWVhNDEyNDQ4Njk1YmQzZTkyOTY4YzlhMWEvdGFibGVyYW5nZTpmYjUyZTg5ZWE0MTI0NDg2OTViZDNlOTI5NjhjOWExYV8wLTAtMS0xLTA_abce7868-a2bc-455f-89ee-0b485c4ba6a6">Ireland</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" name="dei:EntityFileNumber" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV8xL2ZyYWc6N2E0M2Y0ZTkyYjkzNDFjMDg0NTExNTkwNTk1NjJmM2MvdGFibGU6ZmI1MmU4OWVhNDEyNDQ4Njk1YmQzZTkyOTY4YzlhMWEvdGFibGVyYW5nZTpmYjUyZTg5ZWE0MTI0NDg2OTViZDNlOTI5NjhjOWExYV8wLTEtMS0xLTA_6fc3bafc-2ef6-4657-ab1b-512882c21110">001-36504</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" name="dei:EntityTaxIdentificationNumber" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV8xL2ZyYWc6N2E0M2Y0ZTkyYjkzNDFjMDg0NTExNTkwNTk1NjJmM2MvdGFibGU6ZmI1MmU4OWVhNDEyNDQ4Njk1YmQzZTkyOTY4YzlhMWEvdGFibGVyYW5nZTpmYjUyZTg5ZWE0MTI0NDg2OTViZDNlOTI5NjhjOWExYV8wLTItMS0xLTA_3cb47cb0-a8c4-4a18-8497-95234c15406b">98-0606750</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(State or other jurisdiction of incorporation)</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Commission File Number)</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(I.R.S. Employer Identification No.)</span></td></tr></table></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:81.054%"><tr><td style="width:1.0%"></td><td style="width:25.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.733%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.917%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.381%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.432%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.098%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.436%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.817%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" name="dei:EntityAddressAddressLine1" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV8xL2ZyYWc6N2E0M2Y0ZTkyYjkzNDFjMDg0NTExNTkwNTk1NjJmM2MvdGFibGU6MGQ3NDdhMzAzOTJkNGRkMThkNzc0OTU3ZGY2NWQzNmIvdGFibGVyYW5nZTowZDc0N2EzMDM5MmQ0ZGQxOGQ3NzQ5NTdkZjY1ZDM2Yl8wLTAtMS0xLTA_1896d739-59d6-4516-8c64-62b91c7dc1d4">2000 St. James Place</ix:nonNumeric></span></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">,</span></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" name="dei:EntityAddressCityOrTown" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV8xL2ZyYWc6N2E0M2Y0ZTkyYjkzNDFjMDg0NTExNTkwNTk1NjJmM2MvdGFibGU6MGQ3NDdhMzAzOTJkNGRkMThkNzc0OTU3ZGY2NWQzNmIvdGFibGVyYW5nZTowZDc0N2EzMDM5MmQ0ZGQxOGQ3NzQ5NTdkZjY1ZDM2Yl8wLTItMS0xLTA_df031fc5-85e0-410c-a2f3-8b00c8db1226">Houston</ix:nonNumeric></span></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">,</span></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" format="ixt-sec:stateprovnameen" name="dei:EntityAddressStateOrProvince" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV8xL2ZyYWc6N2E0M2Y0ZTkyYjkzNDFjMDg0NTExNTkwNTk1NjJmM2MvdGFibGU6MGQ3NDdhMzAzOTJkNGRkMThkNzc0OTU3ZGY2NWQzNmIvdGFibGVyYW5nZTowZDc0N2EzMDM5MmQ0ZGQxOGQ3NzQ5NTdkZjY1ZDM2Yl8wLTQtMS0xLTA_5f1d2491-2fa3-4085-8eaf-84ca52e7df4f">Texas</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" name="dei:EntityAddressPostalZipCode" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV8xL2ZyYWc6N2E0M2Y0ZTkyYjkzNDFjMDg0NTExNTkwNTk1NjJmM2MvdGFibGU6MGQ3NDdhMzAzOTJkNGRkMThkNzc0OTU3ZGY2NWQzNmIvdGFibGVyYW5nZTowZDc0N2EzMDM5MmQ0ZGQxOGQ3NzQ5NTdkZjY1ZDM2Yl8wLTctMS0xLTA_0a9a5be8-ff3d-43ac-8798-3c88f756cc6c">77056</ix:nonNumeric></span></td></tr><tr><td colspan="15" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Address of principal executive offices)</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Zip Code)</span></td></tr></table></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Registrant&#8217;s telephone number, including area code: <ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" name="dei:CityAreaCode" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV8xL2ZyYWc6N2E0M2Y0ZTkyYjkzNDFjMDg0NTExNTkwNTk1NjJmM2MvdGV4dHJlZ2lvbjo3YTQzZjRlOTJiOTM0MWMwODQ1MTE1OTA1OTU2MmYzY18xNTcw_d8d78e04-d0d9-4cc8-b436-af56d8003dae">713</ix:nonNumeric>.<ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" name="dei:LocalPhoneNumber" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV8xL2ZyYWc6N2E0M2Y0ZTkyYjkzNDFjMDg0NTExNTkwNTk1NjJmM2MvdGV4dHJlZ2lvbjo3YTQzZjRlOTJiOTM0MWMwODQ1MTE1OTA1OTU2MmYzY18xNTc2_fbe206b6-5aaa-4014-abd3-3aa09aab9c74">836.4000</ix:nonNumeric> </span></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.293%"><tr><td style="width:1.0%"></td><td style="width:4.170%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.621%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.768%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.621%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.320%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">N/A</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Former Name or Former Address, if Changed Since Last Report)</span></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</span></div><div><span><br/></span></div><div style="margin-top:3pt"><span style="color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" format="ixt-sec:boolballotbox" name="dei:WrittenCommunications" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV8xL2ZyYWc6N2E0M2Y0ZTkyYjkzNDFjMDg0NTExNTkwNTk1NjJmM2MvdGV4dHJlZ2lvbjo3YTQzZjRlOTJiOTM0MWMwODQ1MTE1OTA1OTU2MmYzY18xNTc3_0ffae495-6300-4578-8875-85dbbc112b42">&#9744;</ix:nonNumeric></span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</span></div><div 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Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Securities registered pursuant to Section 12(b) of the Act:</span></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.860%"><tr><td style="width:1.0%"></td><td style="width:36.363%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.081%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:40.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Title of each class</span></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Trading Symbol(s)</span></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Name of each exchange on which registered</span></td></tr><tr style="height:15pt"><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter). </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;              &#160;&#160;&#160;&#160;Emerging growth company          </span><span style="color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:12pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="i7385a5df3e624872b3e27b12cc248b67_D20210415-20210415" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="id3VybDovL2RvY3MudjEvZG9jOmM5ZDIzZDE1ODUyZTRiMDZhM2RkM2MwYzYwM2M5YjlhL3NlYzpjOWQyM2QxNTg1MmU0YjA2YTNkZDNjMGM2MDNjOWI5YV8xL2ZyYWc6N2E0M2Y0ZTkyYjkzNDFjMDg0NTExNTkwNTk1NjJmM2MvdGV4dHJlZ2lvbjo3YTQzZjRlOTJiOTM0MWMwODQ1MTE1OTA1OTU2MmYzY18xNTcz_1fa09118-d43d-4991-816e-7987d28d78ec">&#9744;</ix:nonNumeric></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#168;</span></div><div style="text-align:justify"><span><br/></span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><div id="ic9d23d15852e4b06a3dd3c0c603c9b9a_7"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="-sec-extract:summary;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:13.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:84.427%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Item 5.02</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</span></td></tr></table></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Appointment of Chief Accounting Officer</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Weatherford International plc (the &#8220;Company&#8221;) announced the appointment of Mr. Desmond Mills as Vice President and Chief Accounting Officer (&#8220;CAO&#8221;), and principal accounting officer, effective April 15, 2021.  Prior to joining the Company, Mr. Mills, 48, was with Caterpillar Inc. where he most recently served as Segment Compliance Manager of Construction Industries and previously served in roles of increasing responsibility including, Finance Director of Caterpillar Brazil and Division Chief Financial Officer of the Integrated Components Services Division.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with Mr. Mills&#8217; appointment as Vice President and CAO, he will receive the following compensation:</span></div><div><span><br/></span></div><div style="padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.5pt">annual base salary of $325,000;</span></div><div style="padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.5pt">eligibility to participate in the Company&#8217;s Short-Term Incentive Plan with a target bonus of 60% of his annual base salary;</span></div><div style="padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.5pt">a long-term cash incentive award with a grant date of April 15, 2021, subject to the terms and conditions of the Company&#8217;s Amended and Restated 2019 Equity Incentive Plan and the award agreements thereunder, as set forth below: </span></div><div style="padding-left:72pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:8.57pt">22,648 in Phantom RSUs vesting in two equal annual installments from the date of grant and subject to a maximum cash payout of $260,000 in the event of a cash settlement under the terms of the award agreement; and</span></div><div style="padding-left:72pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.8pt">30,879 in RSUs vesting in two equal annual installments from the date of grant; and</span></div><div style="padding-left:72pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:3.03pt">15,439 in PSUs; awards may be earned between 0% and 200% of the target award based on achievement of performance goals and will vest following the completion of a two-year performance period.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Mills will be covered under the Company&#8217;s Change of Control Policy which provides that, upon a qualifying termination of employment following a change in control transaction, he would receive, subject to a release of claims, severance benefits equal to one times base salary and bonus, continued health care benefits, outplacement services and certain other benefits.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Absent a change in control transaction, Mr. Mills will be eligible to receive severance benefits in the event of a termination without cause within 12 months of commencement of his employment in the amount of 12 months of his annual base salary. After the first anniversary of Mr. Mills&#8217; commencement of employment, he will be eligible to receive severance benefits in the event of a termination without cause in the amount of 6 months of his annual base salary.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Mills will be eligible for relocation and other benefits in accordance with the Company&#8217;s standard plans and polices. In addition, the Company and one of its primary subsidiaries will enter into customary officer indemnification agreements (deeds of indemnity) with Mr. Mills.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There are no arrangements or understandings between Mr. Mills and any other persons pursuant to which Mr. Mills was selected to act as the Chief Accounting Officer of the Company. Mr. Mills does not have any family relationships subject to disclosure under Item 401(d) of Regulation S-K or any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.</span></div><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><div id="ic9d23d15852e4b06a3dd3c0c603c9b9a_138"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:13.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:84.427%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Item 8.01</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other Events.</span></td></tr></table></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reclassification of Departure of Christina Ibrahim</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company previously reported on June 8, 2020 that Christina M. Ibrahim, its former Executive Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary, had left the Company and was entitled to certain termination &#8220;without cause&#8221; benefits and compensation under the Company&#8217;s pre-existing compensation plans and applicable policies and related agreements. On December 15, 2020, the Company reported that it had determined that Ms. Ibrahim&#8217;s termination (reported on June 8, 2020) was a &#8220;for cause&#8221; termination. Ms. Ibrahim disputed this determination.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company and Ms. Ibrahim have settled all of their disputed matters and, as part of their settlement, the Company has decided to reclassify Ms. Ibrahim&#8217;s separation as &#8220;without cause&#8221; under the terms of her May 4, 2015 Change in Control Agreement and the Company&#8217;s pre-existing compensation plans and applicable policies and related agreements.</span></div><div><span><br/></span></div><div><span><br/></span></div><div id="ic9d23d15852e4b06a3dd3c0c603c9b9a_131"></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:84.531%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Item 9.01</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Financial Statements and Exhibits.</span></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(d)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exhibits</span></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:84.531%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Exhibit Number</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Exhibit Description</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">104</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.</span></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><div id="ic9d23d15852e4b06a3dd3c0c603c9b9a_10"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SIGNATURE</span></div><div style="text-indent:24.75pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</span></div><div style="text-indent:24.75pt"><span><br/></span></div><div style="text-indent:24.75pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.660%"><tr><td style="width:1.0%"></td><td style="width:43.660%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:54.140%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weatherford International plc</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Date: April 16, 2021</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">/s/ Scott C. Weatherholt</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Scott C. Weatherholt</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Executive Vice President, General Counsel and<br/>Chief Compliance Officer </span></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div></body></html>
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wft-20210415
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 15, 2021
Weatherford International plc
(Exact name of registrant as specified in its charter)
Ireland
001-36504
98-0606750
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
2000 St. James Place
,
Houston
,
Texas
77056
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
713
.
836.4000
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
¨
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Chief Accounting Officer
Weatherford International plc (the "Company") announced the appointment of Mr. Desmond Mills as Vice President and Chief Accounting Officer ("CAO"), and principal accounting officer, effective April 15, 2021.  Prior to joining the Company, Mr. Mills, 48, was with Caterpillar Inc. where he most recently served as Segment Compliance Manager of Construction Industries and previously served in roles of increasing responsibility including, Finance Director of Caterpillar Brazil and Division Chief Financial Officer of the Integrated Components Services Division.
In connection with Mr. Mills' appointment as Vice President and CAO, he will receive the following compensation:
1.
annual base salary of $325,000;
2.
eligibility to participate in the Company's Short-Term Incentive Plan with a target bonus of 60% of his annual base salary;
3.
a long-term cash incentive award with a grant date of April 15, 2021, subject to the terms and conditions of the Company's Amended and Restated 2019 Equity Incentive Plan and the award agreements thereunder, as set forth below:
(i)
22,648 in Phantom RSUs vesting in two equal annual installments from the date of grant and subject to a maximum cash payout of $260,000 in the event of a cash settlement under the terms of the award agreement; and
(ii)
30,879 in RSUs vesting in two equal annual installments from the date of grant; and
(iii)
15,439 in PSUs; awards may be earned between 0% and 200% of the target award based on achievement of performance goals and will vest following the completion of a two-year performance period.
Mr. Mills will be covered under the Company's Change of Control Policy which provides that, upon a qualifying termination of employment following a change in control transaction, he would receive, subject to a release of claims, severance benefits equal to one times base salary and bonus, continued health care benefits, outplacement services and certain other benefits.
Absent a change in control transaction, Mr. Mills will be eligible to receive severance benefits in the event of a termination without cause within 12 months of commencement of his employment in the amount of 12 months of his annual base salary. After the first anniversary of Mr. Mills' commencement of employment, he will be eligible to receive severance benefits in the event of a termination without cause in the amount of 6 months of his annual base salary.
Mr. Mills will be eligible for relocation and other benefits in accordance with the Company's standard plans and polices. In addition, the Company and one of its primary subsidiaries will enter into customary officer indemnification agreements (deeds of indemnity) with Mr. Mills.
There are no arrangements or understandings between Mr. Mills and any other persons pursuant to which Mr. Mills was selected to act as the Chief Accounting Officer of the Company. Mr. Mills does not have any family relationships subject to disclosure under Item 401(d) of Regulation S-K or any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 8.01
Other Events.
Reclassification of Departure of Christina Ibrahim
The Company previously reported on June 8, 2020 that Christina M. Ibrahim, its former Executive Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary, had left the Company and was entitled to certain termination "without cause" benefits and compensation under the Company's pre-existing compensation plans and applicable policies and related agreements. On December 15, 2020, the Company reported that it had determined that Ms. Ibrahim's termination (reported on June 8, 2020) was a "for cause" termination. Ms. Ibrahim disputed this determination.
The Company and Ms. Ibrahim have settled all of their disputed matters and, as part of their settlement, the Company has decided to reclassify Ms. Ibrahim's separation as "without cause" under the terms of her May 4, 2015 Change in Control Agreement and the Company's pre-existing compensation plans and applicable policies and related agreements.
Item 9.01
Financial Statements and Exhibits.
(d)
Exhibits
Exhibit Number
Exhibit Description
104
Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Weatherford International plc
Date: April 16, 2021
/s/ Scott C. Weatherholt
Scott C. Weatherholt
Executive Vice President, General Counsel and
Chief Compliance Officer