C. Chang Vanessa - May 12, 2023 Form 4 Insider Report for Transocean Ltd. (RIG)

Role: Director
Signature: /s/ Daniel Ro-Trock By Power of Attorney
Stock symbol: RIG
Transactions as of: May 12, 2023
Transactions value $: $0
Form type: 4
Date filed: 5/15/2023, 04:47 PM
Previous filing: May 1, 2023
Next filing: Apr 29, 2024

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	+35.7K		$0.00	35.7K	May 12, 2023	Registered Shares	35.7K	$0.00	Direct	F1

* 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 registered share equivalents, were acquired on May 12, 2023, pursuant to the Issuer's long-term incentive plan. Restricted Units vest on the earlier of: (i) May 12, 2024, or (ii) the date of the next Annual General Meeting of the Company's shareholders following the May 12, 2023 grant date. Pursuant to the award agreement, such Restricted Units will be payable in registered shares of the Issuer following the vesting date, as defined above.

Content

Restricted Units, which are 1-for-1 registered share equivalents, were acquired on May 12, 2023, pursuant to the Issuer's long-term incentive plan. Restricted Units vest on the earlier of: (i) May 12, 2024, or (ii) the date of the next Annual General Meeting of the Company's shareholders following the May 12, 2023 grant date. Pursuant to the award agreement, such Restricted Units will be payable in registered shares of the Issuer following the vesting date, as defined above.