Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 119

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 119
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, were determined as of December 31, 2024. The present value of these benefits was calculated based on assumptions disclosed in the Company’s financial statements for 2024. See Notes to Consolidated Financial Statements—Note 2—Significant Accounting Policies and Note 9—Benefit Plans included in Item 8 of our annual report on Form 10-K for the fiscal year ended December 31, 2024. Transocean 2025 P-119 Proxy Statement

|                        | ​ |
| EXECUTIVE COMPENSATION | ​ |

Potential Payments Upon Termination or Change of Control The following table summarizes the treatment of outstanding awards as provided in the terms and conditions of each award.

| EVENT                                                           |   |   | CONSEQUENCES                                                                                                                                                                                                                                                                                                                                                                                    |
| Voluntary not-for-cause termination                             | ​ | ​ | Restricted Share Units, Performance Share Units, Performance Cash and Stock Options – executive’s right to unvested portion of award terminates immediately; vested and outstanding stock options will remain exercisable for 60 days following termination (or until expiration, if sooner)                                                                                                    |
| Involuntary not-for-cause termination or Retirement             | ​ | ​ | Restricted Share Units – prorated portion of award vestsPerformance Share Units and Performance Cash – prorated portion of award vests based on actual performance after the performance period endsStock Options – unvested portion of award terminates immediately; vested and outstanding will remain exercisable for one year following termination (or until option expiration, if sooner) |
| Termination due to Death or Disability                          | ​ | ​ | Restricted Share Units – award vestsPerformance Share Units and Performance Cash – prorated portion of award vests based on actual performance after the performance period endsStock Options – award vests and all vested and outstanding will remain exercisable for one year following termination (or until option expiration (or until option expiration, if sooner)                       |
| Involuntary termination not-for-cause after a Change of Control | ​ | ​ | Restricted Share Units – award vestsPerformance Share Units and Performance Cash – award vests based on target performanceStock options – awards vest and all vested and outstanding will remain exercisable for one year following termination (or until option expiration, if sooner)                                                                                                         |

The following table sets forth certain information with respect to compensation that would be payable to the Named Executive Officers as of December 31, 2024, upon a variety of termination scenarios. It does not include benefits that are generally available to salaried employees on a non