Howard E. Davis - Mar 1, 2023 Form 4 Insider Report for Transocean Ltd. (RIG)

Role
EVP, CAO & CIO
Signature
/s/ Daniel Ro-Trock by Power of Attorney
Stock symbol
RIG
Transactions as of
Mar 1, 2023
Transactions value $
$1,370,476
Form type
4
Date filed
3/3/2023, 04:02 PM
Previous filing
Feb 13, 2023
Next filing
Dec 18, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RIG Registered Shares Options Exercise $791K +112K +14.81% $7.08 866K Mar 1, 2023 Direct F1
transaction RIG Registered Shares Options Exercise $735K +104K +12% $7.08 970K Mar 1, 2023 Direct F2
transaction RIG Registered Shares Options Exercise $733K +104K +10.68% $7.08 1.07M Mar 1, 2023 Direct F3
transaction RIG Registered Shares Tax liability -$889K -131K -12.25% $6.76 942K 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 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: 103,865 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: 103,565 on March 1, 2024 and 103,565 on March 1, 2025.
F4 Shares sold upon vesting to satisfy tax withholding obligations.