HOWARD E. DAVIS - 08 Feb 2024 Form 4 Insider Report for Transocean Ltd. (RIG)

Role: EVP, CAO & CIO
Signature: /s/ Daniel Ro-Trock by Power of Attorney
Issuer symbol: RIG
Transactions as of: 08 Feb 2024
Net transactions value: -$1,061,740
Form type: 4
Filing time: 12 Feb 2024, 17:14:09 UTC
Previous filing: 18 Dec 2023
Next filing: 05 Mar 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RIG	Registered Shares	Options Exercise	$0	+554,801	+60%	$0.000000	1,479,407	08 Feb 2024	Direct	F1
transaction	RIG	Registered Shares	Tax liability	$1,061,740	-209,004	-14%	$5.08	1,270,403	09 Feb 2024	Direct	F2

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	+198,047		$0.000000	198,047	08 Feb 2024	Registered Shares	198,047	$0.000000	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Deferred Units awarded on February 12, 2021, vested on February 8, 2024, upon satisfaction of the applicable performance measures pursuant to the Issuer's 2021-2023 performance cycle.
F2	Shares sold upon vesting to satisfy tax withholding obligations.
F3	The Restricted Units were acquired on February 8, 2024, by the reporting person pursuant to the Issuer's long-term incentive plan. The restricted share units vest as follows: 66,015 on March 1, 2025; 66,016 on March 1, 2026; and 66,016 on March 1, 2027.