Simon Johnson - 18 Mar 2025 Form 4 Insider Report for Seadrill Ltd (SDRL)

Signature
/s/ Todd D. Strickler, attorney-in-fact
Issuer symbol
SDRL
Transactions as of
18 Mar 2025
Net transactions value
-$778,742
Form type
4
Filing time
05 Jan 2026, 20:44:32 UTC
Previous filing
02 Jan 2025
Next filing
21 Apr 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Johnson Simon President & CEO 11025 EQUITY DRIVE, SUITE 150, HOUSTON /s/ Todd D. Strickler, attorney-in-fact 05 Jan 2026 0001602196

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SDRL Common Shares Options Exercise +54,177 +51% 159,695 31 Dec 2025 Direct F1, F5, F6
transaction SDRL Common Shares Tax liability $778,742 -22,507 -14% $34.60 137,188 31 Dec 2025 Direct

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 SDRL Restricted Stock Units Award +19,633 19,633 18 Mar 2025 Common Shares 19,633 Direct F1, F2, F3
transaction SDRL Restricted Stock Units Award +10,263 10,263 18 Mar 2025 Common Shares 10,263 Direct F1, F4
transaction SDRL Restricted Stock Units Options Exercise -34,544 -100% 0 31 Dec 2025 Common Shares 34,544 Direct F1, F5
transaction SDRL Restricted Stock Units Options Exercise -19,633 -100% 0 31 Dec 2025 Common Shares 19,633 Direct F1, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units convert into common shares, par value $0.01 per share (each, a "Common Share"), of Seadrill Limited (the "Company") on a one-for-one basis.
F2 On September 25, 2023, the reporting person was granted 129,542 performance-based restricted stock units, each of which represented a contingent right to receive one Common Share. 60% of such restricted stock units were subject to the achievement of certain total shareholder return metrics; and 40% were subject to the achievement of an annual free cash flow performance metric (the "2023 Award FCF Metric") measured annually for each of the years beginning January 1 and ending December 31, 2023, 2024 and 2025 (the annual measurement periods ended December 31, 2023 and 2024, respectively, the "2023 Measurement Period" and the "2024 Measurement Period"). The earned restricted stock units vest subject to the reporting person's continued employment from the grant date through December 31, 2025 and will be settled in cash or Common Shares at the election of the Joint Nomination and Remuneration Committee of the Board of Directors of the Company (the "Committee").
F3 (Continued from footnote 2) On March 18, 2025, the Committee certified achievement of the 2023 Award FCF Metric for the 2024 Measurement Period at 113.67%.
F4 On April 17, 2024, the reporting person was granted 67,720 performance-based restricted stock units, each of which represented a contingent right to receive one Common Share. 60% of such restricted stock units were subject to the achievement of certain total shareholder return metrics; and 40% were subject to the achievement of an annual free cash flow performance metric (the "2024 Award FCF Metric") measured annually for each of the years beginning January 1 and ending December 31, 2024, 2025 and 2026. The earned restricted stock units vest subject to the reporting person's continued employment from the grant date through December 31, 2026 and will be settled in cash or Common Shares at the election of the Committee. On March 18, 2025, the Committee certified achievement of the 2024 Award FCF Metric for the 2024 Measurement Period at 113.67%.
F5 Represents the number of restricted stock units subject to the 2023 Award FCF Metric and relating to the 2023 Measurement Period that vested on December 31, 2025.
F6 Represents the number of restricted stock units subject to the 2023 Award FCF Metric and relating to the 2024 Measurement Period that vested on December 31, 2025.