Jeremy D. Thigpen - 01 Mar 2022 Form 4 Insider Report for Transocean Ltd. (RIG)

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RIG	Registered Shares	Options Exercise	$0	+67,205	+4.5%	$0.000000	1,558,429	01 Mar 2022	Direct	F1
transaction	RIG	Registered Shares	Options Exercise	$0	+363,636	+23%	$0.000000	1,922,065	01 Mar 2022	Direct	F2
transaction	RIG	Registered Shares	Options Exercise	$0	+362,319	+19%	$0.000000	2,284,384	01 Mar 2022	Direct	F3
transaction	RIG	Registered Shares	Tax liability	$1,129,923	-316,505	-14%	$3.57	1,967,879	02 Mar 2022	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	Restricted Units, which are 1-for-1 share equivalents, acquired on February 7, 2019, by the reporting person pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2022, resulting in the right of the reporting person to receive the registered shares.
F2	Restricted Units, which are 1-for-1 share equivalents, acquired on May 8, 2020, by the reporting person pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2022, resulting in the right of the reporting person to receive the registered shares. The remaining restricted units vest as follows: 363,637 on March 1, 2023.
F3	Restricted Units, which are 1-for-1 share equivalents, acquired on February 12, 2021, by the reporting person pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2022, resulting in the right of the reporting person to receive the registered shares. The remaining restricted units vest as follows: 362,319 on March 1, 2023 and 362,319 on March 1, 2024.
F4	Shares sold upon vesting to satisfy tax withholding obligations