Keelan Adamson - 09 Feb 2023 Form 4 Insider Report for Transocean Ltd. (RIG)

Role: PRESIDENT AND COO
Signature: /s/ Daniel Ro-Trock by Power of Attorney
Issuer symbol: RIG
Transactions as of: 09 Feb 2023
Net transactions value: -$1,432,495
Form type: 4
Filing time: 13 Feb 2023, 17:43:20 UTC
Previous filing: 09 Mar 2022
Next filing: 03 Mar 2023
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	+420,784	+348%	$0.000000	541,854	09 Feb 2023	Direct	F1
transaction	RIG	Registered Shares	Tax liability	$1,074,809	-149,279	-28%	$7.20	392,575	10 Feb 2023	Direct	F2
transaction	RIG	Registered Shares	Sale	$357,686	-50,026	-13%	$7.15	342,549	13 Feb 2023	Direct	F3

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	+203,193		$0.000000	203,193	09 Feb 2023	Registered Shares	203,193	$0.000000	Direct	F4

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

Explanation of Responses:

Id	Content
F1	Deferred Units awarded on May 8, 2020, vested on February 9, 2023, upon satisfaction of the applicable performance measures pursuant to the Issuer's 2020-2022 performance cycle.
F2	Shares sold upon vesting to satisfy tax withholding obligations.
F3	The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 26, 2022.
F4	The Restricted Units were acquired on February 9, 2023, by the reporting person pursuant to the Issuer's long-term incentive plan. The restricted share units vest as follows: 67,731 on March 1, 2024; 67,731 on March 1, 2025; and 67,731 on March 1, 2026.