Brady K. Long - Feb 9, 2023 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: Feb 9, 2023
Transactions value $: -$1,017,569
Form type: 4
Date filed: 2/13/2023, 05:47 PM
Previous filing: Mar 3, 2022
Next filing: Mar 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RIG	Registered Shares	Options Exercise	$0	+401K	+78.58%	$0.00	911K	Feb 9, 2023	Direct	F1
transaction	RIG	Registered Shares	Tax liability	-$1.02M	-141K	-15.52%	$7.20	769K	Feb 10, 2023	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	+158K		$0.00	158K	Feb 9, 2023	Registered Shares	158K	$0.00	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 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 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: 52,777 on March 1, 2024; 52,777 on March 1, 2025; and 52,778 on March 1, 2026.