Howard E. Davis - Mar 1, 2024 Form 4 Insider Report for Transocean Ltd. (RIG)

Signature
/s/ Daniel Ro-Trock by Power of Attorney
Stock symbol
RIG
Transactions as of
Mar 1, 2024
Transactions value $
$799,281
Form type
4
Date filed
3/5/2024, 07:15 PM
Previous 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 $529K +104K +8.18% $5.09 1.37M Mar 1, 2024 Direct F1
transaction RIG Registered Shares Options Exercise $527K +104K +7.54% $5.09 1.48M Mar 1, 2024 Direct F2
transaction RIG Registered Shares Options Exercise $265K +52K +3.52% $5.09 1.53M Mar 1, 2024 Direct F3
transaction RIG Registered Shares Tax liability -$521K -103K -6.71% $5.08 1.43M Mar 4, 2024 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 February 12, 2021, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2024, 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 10, 2022, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2024, 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, 2025.
F3 Restricted Units, which are 1-for-1 share equivalents, acquired on February 9, 2023, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2024, resulting in the right of the reporting person to receive the registered shares. The remaining restricted share units vest as follows: 52,008 on March 1, 2025 and 52,008 on March 1, 2026
F4 Shares sold upon vesting to satisfy tax withholding obligations.