Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 50

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 50
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’s executive compensation program receiving strong historical shareholder support as noted above. Consistent with the Company’s historical practice in setting executive compensation, as reflected in the Compensation Discussion and Analysis, we do not anticipate that the aggregate amount actually paid to our Executive Management Team members for fiscal year 2026 will be at the proposed maximum aggregate amount. PROPOSAL FOR RATIFICATION OF MAXIMUM AGGREGATE AMOUNT The Board of Directors proposes that the shareholders ratify an amount of $26,000,000, excluding employer-paid social taxes, as the maximum aggregate amount of compensation of the Executive Management Team for fiscal year 2026. This amount is the maximum amount that the Company can pay or grant to its members of the Executive Management Team for fiscal year 2026, subject to the authority of the Board of Directors to grant or pay a “supplementary amount” pursuant to article 29c of our Articles of Association without additional shareholder ratification to persons who newly assume an Executive Management Team function after the prospective vote at the 2025 Annual General Meeting. For more information, see “Compensation Discussion and Analysis.” The proposed maximum aggregate amount of compensation for fiscal year 2026 is based on our estimated compensation levels and represents no change from the maximum aggregate amount of compensation for fiscal year 2025, which was approved by shareholders at last year’s annual general meeting. Shareholder approval is based on the maximum aggregate amounts that could be payable in accordance with our compensation principles as set out in the Compensation Discussion and Analysis. Therefore, actual aggregate amounts paid to our Executive Management Team members for fiscal year 2026 will fall within the range that may be payable. Although historical compensation paid to our Executive Management Team, as disclosed in the Swiss Compensation Report, has been less (2024: $22,701,660) than the maximum amount payable (2024: $26,000,000), we request our shareholders approve the proposed maximum aggregate amount in order to comply with our Articles of Association and to ensure that the authorized compensation is set at a level that allows us to honor the compensation obligations under our compensation program and plans if the Executive Management Team or its individual members deliver superior performance and achieve all of the performance objectives at maximum performance level. Actual compensation paid to the Executive Management Team in 2026 will be disclosed in the proxy statement for our 2027 Annual General Meeting and the Swiss Compensation Report for fiscal year 2026.

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