Brady K. Long - 10 Feb 2022 Form 4 Insider Report for Transocean Ltd. (RIG)

Role: EVP & General Counsel
Signature: /s/ Daniel Ro-Trock By Power of Attorney
Issuer symbol: RIG
Transactions as of: 10 Feb 2022
Net transactions value: -$110,434
Form type: 4
Filing time: 14 Feb 2022, 16:18:50 UTC
Previous filing: 11 May 2021
Next filing: 03 Mar 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RIG	Registered Shares	Options Exercise	$0	+77,345	+23%	$0.000000	408,555	10 Feb 2022	Direct	F1
transaction	RIG	Registered Shares	Tax liability	$110,434	-30,591	-7.5%	$3.61	377,964	11 Feb 2022	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	Award	$0	+315,292		$0.000000	315,292	10 Feb 2022	Registered Shares	315,292	$0.000000	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Deferred Units awarded on February 7, 2019, vested on February 10, 2022 upon satisfaction of the applicable performance measures pursuant to the Issuer's 2019-2021 performance cycle.
F2	Shares sold upon vesting to satisfy tax withholding obligations.
F3	The Restricted Units were acquired on February 10, 2022, by the reporting person pursuant to the Issuer's long-term incentive plan. The restricted share units vest as follows: 105,097 on March 1, 2023; 105,097 on March 1, 2024; and 105,098 on March 1, 2025.