Borr Drilling's founder is buying his own company again. Tor Olav Trøim, a director since the offshore driller was set up in 2016 and its chairman until September 2025, filed a Form 4 this week for another 1,000,000 shares, bought in the open market on September 16th, 2026 at $4.2995 each, or $4.30 million.

It is the fourth purchase in five weeks. On August 13th, 2026 his vehicle Drew Holdings bought 1,500,000 shares at $4.0245 ($6.04 million). On August 14th it added 500,000 at $4.3868 ($2.19 million), and on August 25th another 200,000 at $4.3731 ($874,620). Together that is 3,200,000 shares for $13.40 million, at an average of about $4.19.

The position behind those filings is large. Drew Holdings now holds 30,385,941 shares, roughly 9.9% of the 307 million shares outstanding and just under the 10% line at which a holder reports differently. Trøim, a Norwegian naval architect who spent two decades as John Fredriksen's right hand, is the beneficiary of the trust that owns Drew Holdings, so the purchases are his own money.

He is not alone on the buy side, but nearly. Director Jeffrey Currie bought 125,000 shares at $4.0131 ($501,638) on August 13th, 2026, the same day as the largest Trøim purchase. Against that, five Borr executives, including the chief financial officer and the chief operating officer, sold a combined 83,438 shares on September 2nd and 3rd at $4.55 to $4.80, worth under $400,000 in total. Sales that small, filed together, usually cover tax on vesting stock rather than express a view on the company.

The price context matters. Borr closed at $4.36 on September 17th, 2026. The stock is up about 48% over twelve months, but it is down a third from its May 18th, 2026 close of $6.61, and all four Trøim purchases landed inside that pullback. A director who already owns a tenth of a $1.4 billion jack-up rig company does not need more shares for governance reasons. He is adding because he thinks the price is wrong.

Figures are from SEC Form 4 filings via EDGAR, reviewed by InsiderBuying.com, for transactions dated August 13th, 2026 to September 16th, 2026. Nothing here is a recommendation, and a purchase is not a forecast.

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