Brady K. Long - May 8, 2021 Form 4 Insider Report for Transocean Ltd. (RIG)

Role: EVP & General Counsel
Signature: /s/ Daniel Ro-Trock By Power of Attorney
Stock symbol: RIG
Transactions as of: May 8, 2021
Transactions value $: -$164,385
Form type: 4
Date filed: 5/11/2021, 05:06 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	+104K	+38.62%	$0.00	373K	May 8, 2021	Direct	F1
transaction	RIG	Registered Shares	Tax liability	-$164K	-41.7K	-11.19%	$3.94	331K	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	+104K	+100%	$0.00	208K	May 8, 2021	Registered Shares	104K	$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 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: 103,896 on March 1, 2022 and 103,896 on March 1, 2023.
F2	Shares sold upon vesting to satisfy tax obligations.