Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 48

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 48
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 Compensation Strategy.” The actual amounts paid to each member of the Board of Directors for fiscal year 2024 are disclosed under “2024 Director Compensation” and in our Swiss Compensation Report under the caption “Board of Directors’ Compensation.” PROPOSAL FOR RATIFICATION OF MAXIMUM AGGREGATE AMOUNT The Board of Directors proposes that the shareholders ratify an amount of $4,121,000 as the maximum aggregate amount of compensation that the Company may pay to the Board of Directors for the 2025/2026 Term. The proposed aggregate maximum amount has been calculated based on the directors’ compensation elements as outlined above and represents no change from the maximum aggregate amount of compensation for the prior nine terms since the Swiss compensation regulations were first implemented for the 2015/2016 Term; all of which were approved by shareholders. The total compensation paid to the Board of Directors for the 2024/2025 Term was $3,100,440, which is below the $4,121,000 previously approved by shareholders at the 2024 Annual General Meeting.

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| RECOMMENDATIONThe Board of Directors recommends that you vote FOR this Agenda Item 12A. |

Transocean 2025 P-57 Proxy Statement

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| AGENDA ITEM 12 | ​ |

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| 12B | Ratification of the Maximum Aggregate Amount of Compensation of the Executive Management Team for Fiscal Year 2026 |

PROPOSAL OF THE BOARD OF DIRECTORS

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| The Board of Directors proposes that the shareholders ratify an amount of $26,000,000 as the maximum aggregate amount of compensation of the Executive Management Team for fiscal year 2026. |

EXPLANATION As required by our Articles of Association and the Swiss Code, our 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 Executive Management Team for fiscal year 2026. The shareholder vote is binding. EXECUTIVE MANAGEMENT TEAM COMPOSITION Our Executive Management Team for fiscal year 2026 is expected to be comprised of our Executive Chair, our Chief Executive Officer, and our Chief Financial Officer. Each of our Executive Management Team members serves an integral role as an executive officer in making significant operational decisions to implement the Company’s strategic objectives. EXECUTIVE MANAGEMENT TEAM COMPENSATION PRINCIPLES The general principles of the compensation for the Executive Management Team are described in article 29