Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 47

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 47
---
 feedback.

| ​                                                                                                                                                                                                                                                                                                                                                   |
| RECOMMENDATIONThe Board of Directors recommends that you vote FOR approval of the compensation of the Company’s Named Executive Officers, as disclosed pursuant to the compensation disclosure rules of the SEC, including the Compensation Discussion and Analysis, the compensation tables, and the narrative disclosure in this proxy statement. |

Transocean 2025 P-55 Proxy Statement

AGENDA ITEM 12 Prospective Vote on the Maximum Compensation of (A) the Board of Directors and (B) the Executive Management Team

| ​   | ​                                                                                                                                                                                 |
| 12A | Ratification of the Maximum Aggregate Amount of Compensation of the Board of Directors for the Period Between the 2025 Annual General Meeting and the 2026 Annual General Meeting |

PROPOSAL OF THE BOARD OF DIRECTORS

| ​                                                                                                                                                                                                                                                          |
| The Board of Directors proposes that the shareholders ratify an amount of $4,121,000 as the maximum aggregate amount of compensation of the Board of Directors for the period between the 2025 Annual General Meeting and the 2026 Annual General Meeting. |

EXPLANATION As required by our Articles of Association and the Swiss Code, the shareholders are provided the opportunity to vote on the maximum aggregate amount of compensation that can be paid or granted to the members of the Board of Directors who are not employees for the period between the 2025 Annual General Meeting and the 2026 Annual General Meeting (the “2025/2026 Term”). The shareholder vote is binding. DIRECTORS’ COMPENSATION PRINCIPLES The general principles of the compensation for our Board of Directors are described in article 29b of our Articles of Association. We use a combination of cash and equity compensation to attract and retain qualified candidates to serve on our Board of Directors. Our directors’ compensation consists of: ■cash retainers and ■grants of restricted share units Set forth below is an overview of the non-employee director compensation elements for the term of office between the 2023 Annual General Meeting and the 2024 Annual General Meeting (the “2023/2024 Term”), and the term of office between the 2024 Annual General Meeting and the 2025 Annual General Meeting (the

Transocean 2025 P-56 Proxy Statement

| ​ | ​              |
| ​ | AGENDA ITEM 12 |

“2024/2025 Term”). Additionally, the compensation elements currently contemplated for the 2025/2026 Term are also provided:

|