Mark-Anthony Lovell Mey - Mar 1, 2023 Form 4 Insider Report for Transocean Ltd. (RIG)

Role
EVP & CFO
Signature
/s/ Daniel Ro-Trock by Power of Attorney
Stock symbol
RIG
Transactions as of
Mar 1, 2023
Transactions value $
$1,721,072
Form type
4
Date filed
3/3/2023, 04:13 PM
Previous filing
Feb 13, 2023
Next filing
Aug 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RIG Registered Shares Options Exercise $993K +140K +12.25% $7.08 1.29M Mar 1, 2023 Direct F1
transaction RIG Registered Shares Options Exercise $923K +130K +10.15% $7.08 1.42M Mar 1, 2023 Direct F2
transaction RIG Registered Shares Options Exercise $921K +130K +9.19% $7.08 1.55M Mar 1, 2023 Direct F3
transaction RIG Registered Shares Tax liability -$1.12M -165K -10.68% $6.76 1.38M 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: 130,435 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: 130,058 on March 1, 2024 and 130,058 on March 1, 2025.
F4 Shares sold upon vesting to satisfy tax withholding obligations.