03
Defused: Trøim’s switch from passive to activist disclosure at Borr Drilling is a threshold being crossed, not a posture being adopted
The headline is “director goes active at 12.2%.” The filing itself says “The Reporting Persons have no plans or proposals as of the date of this filing,” and that he intends to remain a director. He has sat on the board throughout. What changed is that Drew Holdings bought more than 2% in twelve months, which is the mechanical end of passive-filer eligibility. See The Log.