Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 81

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 81
---
 recommending committee assignments, structure, duties and operations, and reporting to the Board of Directors; ■Overseeing the annual evaluation of the performance of the Board of Directors; ■Reviewing and overseeing the Company’s programs, policies and practices with respect to health, safety, environment, and sustainability matters relevant to the Company’s operations, performance, and strategic planning; and ■Exercising oversight of sustainability reporting that does not require third party assurance and does not otherwise fall within the scope of the Audit Committee’s responsibilities.

Transocean 2025 P-83 Proxy Statement

|                               | ​ |
| BOARD MEETINGS AND COMMITTEES | ​ |

Director Compensation Strategy Directors who are employees of the Company do not receive compensation for service on the Board of Directors. All of the directors in the 2024/2025 term except Mr. Thigpen, as Chief Executive Officer, were non-employees that receive compensation for their service on the Board of Directors. We use a combination of cash and equity compensation to attract and retain qualified candidates to serve on the Board of Directors. The Board of Directors believes that any compensation method should be weighted more toward compensation in the form of equity in order to more closely align director compensation with shareholders’ interests. In the 2024/2025 term, non-employee director target compensation in U.S. dollars included the following fixed components:

| ​                                                                | ​ |                    ​ |   |
| COMPENSATION COMPONENT                                           | ​ | COMPENSATION(U.S. $) |   |
| Annual Retainer—non-employee Chair                               |   |              215,000 | ​ |
| Annual Retainer—non-employee Directors                           | ​ |              100,000 | ​ |
| Additional Annual Retainer for Committee Chair                   | ​ |                    ​ | ​ |
| Audit Committee                                                  | ​ |               35,000 | ​ |
| Compensation Committee                                           | ​ |               20,000 | ​ |
| Finance Committee and Governance, Safety & Environment Committee | ​ |               10,000 | ​ |
| Grant of Restricted Share Units—non-employee Chair(1)            | ​ |              215,000 | ​ |
| Grant of Restricted Share Units—non-employee Directors(1)        | ​ |              210,000 | ​ |

(1) Restricted share units are granted to each non-employee director. The restricted share units vest on the date first to occur of (i) the first anniversary of the date of grant or (ii)