Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 90

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 90
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 our executive compensation with long-term shareholder interests✓    Utilize multiple measurement periods and metrics for incentive compensation✓    Allow for outstanding equity awards to be forfeited for violation of human resource or legal compliance and ethics policies, including the Company’s Code of Integrity ✓    Link long-term incentive compensation to relative performance metrics✓    Deliver 100% of long-term incentives in equity, at least 50% of which is in performance-based awards✓    Cap the earning of PSUs at target if the Company’s absolute TSR is less than negative 15%✓    Cap the overall PSU payouts to prevent unintended windfalls✓    Retain an independent consultant who reports only to our Compensation Committee (not management)✓    Maintain double trigger change-in-control provisions | ​ | ​ | ✕   Allow our executives to hedge, sell short or hold derivative instruments tied to our shares (other than derivative instruments issued by us)✕   Allow our executives or directors to pledge Company shares✕   Allow unearned performance-based full value awards and/or stock options to be counted towards executive stock ownership requirements✕   Have pre-arranged individual severance agreements or special change-in-control compensation agreements with any Executive Officers; however, to the extent permitted under Swiss law, our executives are eligible for severance and change-in-control provisions pursuant to our policies, in exchange for covenants that protect the Company✕   Provide gross-ups for severance payments✕   Guarantee salary increases, non-performance based bonuses or unrestricted equity compensation✕   Provide any payments or reimbursements for tax equalization✕   Pay dividends or dividend equivalents on performance-based equity that has not vested✕   Offer executive perquisites |

Transocean 2025 P-92 Proxy Statement

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| ​ | COMPENSATION DISCUSSION AND ANALYSIS |

THE PRIMARY GOAL OF OUR COMPENSATION PROGRAM IS TO ALIGN PAY WITH PERFORMANCE We accomplish our goal of aligning pay with performance by providing our executives with a competitive compensation package that rewards performance against specific, strategic, financial and operational goals that the Committee believes are critical to the Company’s long-term success and the achievement of sustainable long-term shareholder returns. Attracting, retaining and motivating talented management is essential to creating shareholder value throughout the business cycles of our industry. In administering our executive compensation program, we are guided by the following principal objectives: ■Aligning annual incentive compensation with financial, operational and strategic objectives; and ■Rewarding share price appreciation and relative performance through long-term