Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 110

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 110
---
INES FOR EXECUTIVES IT IS IMPORTANT FOR OUR NAMED EXECUTIVE OFFICERS TO BUILD AND MAINTAIN AN APPROPRIATE EQUITY STAKE IN THE COMPANY. The Company’s share ownership guidelines for executives, including our Named Executive Officers, are intended to further align executives’ interests with the interests of our shareholders. Under these guidelines, Named Executive Officers must retain 50% of any shares received (net of tax shares) on the exercise, vesting or settlement, as applicable, of each award until the share ownership guidelines are met. Each of our Named Executive Officers must own at least an amount of shares equivalent in value to the following, as applicable:

| ​                                         | ​  |          |
| CEO                                       | 6x | Base Pay |
| President and/or Executive Vice President | 3x | Base Pay |
| Senior Vice President                     | 2x | Base Pay |

Transocean 2025 P-110 Proxy Statement

| ​ |                                      |
| ​ | COMPENSATION DISCUSSION AND ANALYSIS |

| Vice President | 1x | Base Pay |

Under our share ownership guidelines, time-vested restricted share units and earned but unsettled performance units may be counted towards compliance. Unearned performance-based full value awards and/or unexercised stock options may not be counted towards compliance with the guidelines. Compliance with these guidelines is reviewed by the Committee, and executives must certify their compliance on an annual basis. The Committee may exercise its discretion in response to any non-compliance of these guidelines. The Committee determined that all executives were in compliance with these requirements in 2024. EXECUTIVE COMPENSATION RECOUPMENT/CLAWBACK POLICY A new Executive Officer Incentive-Based Compensation Recoupment Policy was adopted in August 2023 in compliance with the most recent SEC and NYSE clawback rules. The policy provides that certain incentive compensation (cash or equity) received by current and former executive officers is subject to recoupment in the event of an accounting restatement. Specifically, amounts of compensation paid in excess of the amount that otherwise would have been received had payment of the incentive-based compensation been determined based on the accounting restatement, computed without regard to taxes paid, must be recouped to the extent received after the policy went into effect and during the three fiscal years preceding the date it is determined that the Company is required to prepare an accounting restatement. Further, the Committee has separately established terms and conditions for equity awards providing that awards may