Brady K. Long - Mar 1, 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
Mar 1, 2023
Transactions value $
$1,365,397
Form type
4
Date filed
3/3/2023, 03:59 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 $736K +104K +13.5% $7.08 873K Mar 1, 2023 Direct F1
transaction RIG Registered Shares Options Exercise $684K +96.6K +11.06% $7.08 970K Mar 1, 2023 Direct F2
transaction RIG Registered Shares Options Exercise $744K +105K +10.84% $7.08 1.08M Mar 1, 2023 Direct F3
transaction RIG Registered Shares Tax liability -$798K -118K -10.99% $6.76 957K Mar 2, 2023 Direct F4
* 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 share 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 share 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: 96,619 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 share 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: 105,097 on March 1, 2024 and 105,098 on March 1, 2025.
F4 Shares sold upon vesting to satisfy tax withholding obligations.