Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 124

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 124
---
 is indicated. The OSX is the peer group utilized by Transocean for purposes of Item 201(e) of Regulation S-K under the Exchange Act in Transocean’s Annual Report on Form 10-K for the year ended December 31, 2024. |

| (5) | Adjusted EBITDA represents income before interest expense, interest income, taxes, depreciation and amortization, and excluding certain identified charges and credits. See Appendix A in this proxy statement for a reconciliation of Adjusted EBITDA to net income, the most directly comparable financial measure prepared and calculated in accordance with GAAP. |

The following tables set forth the requisite adjustments to determine Compensation Actually Paid (CAP) to our CEO and the average Compensation Actually Paid (CAP) to our non-CEO Named Executive Officers for fiscal years 2024, 2023, 2022, 2021 and 2020. The summary compensation table total for our CEO and the average summary compensation table totals for non-CEO Named Executive Officers are adjusted to arrive at the compensation actually paid and average compensation actually paid each year using the methodology as indicated in the table below.

Transocean 2025 P-124 Proxy Statement

| ​ |                        |
| ​ | EXECUTIVE COMPENSATION |

With respect to equity award adjustments for 2024 as disclosed in the table below, the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.

| Summary Compensation Table to Compensation Actually Paid Adjustments                                                                                                                       |         2024 
          ($) |
| Summary Compensation Table                                                                                                                                                                 |  $10,938,141 |
| Adjustments to Determine Compensation Actually Paid for CEO                                                                                                                                |            ​ |
| Deduction for Change in the Actuarial Present Values reported under the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” Column of the Summary Compensation Table |            - |
| Increase for “Service Cost” for Pension Plans                                                                                                                                              |            - |
| Increase for “Prior Service Cost” for Pension Plans                                                                                                                                        |            - |
| Deduction for amounts reported under the “Stock Awards” column in the Summary Compensation Table                                                                                           | $(7,918,289) |
| Deduction for amounts reported under the “Option Awards” column in the Summary Compensation Table                                                                                          |            - |
| Increase for fair value of awards granted during year that remain unvested as of year-end                                                                                                  |   $4,260,895 |
| Increase for fair value of awards granted during