Jeremy D. Thigpen - May 8, 2021 Form 4 Insider Report for Transocean Ltd. (RIG)

Role
President & CEO, Director
Signature
/s/ Daniel Ro-Trock By Power of Attorney
Stock symbol
RIG
Transactions as of
May 8, 2021
Transactions value $
-$575,287
Form type
4
Date filed
5/11/2021, 05:01 PM
Next filing
Feb 14, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RIG Registered Shares Options Exercise $0 +364K +32.76% $0.00 1.47M May 8, 2021 Direct F1
transaction RIG Registered Shares Tax liability -$575K -146K -9.91% $3.94 1.33M May 10, 2021 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction RIG Restricted Units Options Exercise $0 +364K +100% $0.00 727K May 8, 2021 Registered Shares 364K $0.00 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted Units, which are 1-for-1 share equivalents, acquired on May 8, 2020, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on May 8, 2021, resulting in the right of the reporting person to receive the registered shares. The remaining restricted share units vest as follows: 363,636 on March 1, 2022 and 363,637 on March 1, 2023.
F2 Shares sold upon vesting to satisfy tax obligations.