Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 90

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 90
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 the alignment between performance and compensation, and analyzing realizable pay relative to target pay as compared to our peers. Compensation Philosophy, Strategy and Design Our executive compensation program includes a range of features that align the interests of our senior management with those of our shareholders and excludes features that may result in misalignment. Important features of our executive compensation programs and practices are provided in the following table: Transocean 2025 P-91 Proxy Statement

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| COMPENSATION DISCUSSION AND ANALYSIS | ​ |

| WHAT WE DO                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | WHAT WE DON’T DO                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| ✓    Conduct an annual review of our compensation strategy, including a review of our compensation-related risk profile✓    Seek shareholder feedback annually on our executive compensation program through an advisory vote ✓    Mandate meaningful share ownership requirements for our executives✓    Maintain a clawback policy in accordance with SEC and NYSE requirements providing for the recovery of erroneously awarded incentive-based compensation (cash and equity) in the case of an accounting restatement✓    Base annual incentive performance on quantitative and qualitative metrics and long-term incentive performance on quantitative, formulaic metrics✓    Maintain compensation plans that are weighted significantly toward variable pay to align 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