Howard E. Davis - May 8, 2021 Form 4 Insider Report for Transocean Ltd. (RIG)

Role
EVP, CAO & CIO
Signature
/s/ Daniel Ro-Trock By Power of Attorney
Stock symbol
RIG
Transactions as of
May 8, 2021
Transactions value $
-$176,689
Form type
4
Date filed
5/11/2021, 05:03 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 +112K +38.81% $0.00 399K May 8, 2021 Direct F1
transaction RIG Registered Shares Tax liability -$177K -44.8K -11.23% $3.94 355K 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 +112K +100% $0.00 223K May 8, 2021 Registered Shares 112K $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: 111,688 on March 1, 2022 and 111,689 on March 1, 2023.
F2 Shares sold upon vesting to satisfy tax obligations.