Keelan Adamson - Mar 1, 2023 Form 4 Insider Report for Transocean Ltd. (RIG)

Role
PRESIDENT AND COO
Signature
/s/ Daniel Ro-Trock by Power of Attorney
Stock symbol
RIG
Transactions as of
Mar 1, 2023
Transactions value $
$1,058,211
Form type
4
Date filed
3/3/2023, 03:55 PM
Previous filing
Feb 13, 2023
Next filing
Feb 12, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RIG Registered Shares Options Exercise $772K +109K +31.85% $7.08 452K Mar 1, 2023 Direct F1
transaction RIG Registered Shares Options Exercise $778K +110K +24.34% $7.08 561K Mar 1, 2023 Direct F2
transaction RIG Registered Shares Options Exercise $955K +135K +24.02% $7.08 696K Mar 1, 2023 Direct F3
transaction RIG Registered Shares Tax liability -$964K -143K -20.47% $6.76 554K Mar 2, 2023 Direct F4
transaction RIG Registered Shares Sale -$483K -71K -12.82% $6.81 483K Mar 2, 2023 Direct F5
* 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 share equivalents, acquired on May 8, 2020, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2023, resulting in the right of the reporting person to receive the registered shares.
F2 Restricted Units, which are 1-for-1 share equivalents, acquired on February 12, 2021, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2023, resulting in the right of the reporting person to receive the registered shares. The remaining restricted share units vest as follows: 109,904 on March 1, 2024.
F3 Restricted Units, which are 1-for-1 share equivalents, acquired on February 10, 2022, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2023, resulting in the right of the reporting person to receive the registered shares. The remaining restricted share units vest as follows: 134,875 on March 1, 2024 and 134,875 on March 1, 2025.
F4 Shares sold upon vesting to satisfy tax withholding obligations.
F5 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.