Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 101

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 101
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 the actions completed was presented to the GSE Committee for their review and confirmation. Both measures’ primary and secondary performance criteria were completed in full and payout achievement was confirmed by the Committee at 200% of target with an associated weighted payout of 20%. As illustrated, the combined sustainability results exceeded our goal, and the Committee certified sustainability performance achievement, resulting in an associated weighted payout of 40% of the total target bonus opportunity for each Named Executive Officer. OVERALL 2024 ANNUAL BONUS ACHIEVEMENT IN 2024, WE DELIVERED STRONG ANNUAL PERFORMANCE RESULTS. Our executive leadership showed exceptional discipline and commitment in managing the Company, driving the success of our business, and building long-term value. Further, our success in delivering solid results in 2024 against the measures approved by the Committee could not have been realized without the discipline, flexibility and resilience of our dedicated workforce. LONG-TERM INCENTIVES THE COMMITTEE ESTABLISHES COMPETITIVE LONG-TERM INCENTIVE (“LTI”) OPPORTUNITIES FOR OUR NAMED EXECUTIVE OFFICERS THAT MOTIVATE THEM TO INCREASE TOTAL SHAREHOLDER RETURN, DRIVE LONG-TERM SUSTAINABLE VALUE AND ALIGN THE INTERESTS OF PARTICIPANTS WITH THOSE OF SHAREHOLDERS. To provide an appropriate balance of incentives tied to performance, two types of long-term equity instruments were used in 2024: Performance Units (“PSUs”) and Restricted Share Units (“RSUs”), each weighted at 50%. This LTI mix was designed to ensure that a minimum of 50% of total LTI is conveyed through performance-based awards. RSUs were included in the incentive mix to reinforce a direct relationship to the shareholder experience and to promote ownership of Company equity. Both instruments were also designed to be retentive in nature through extended performance and vesting periods. The following LTI award values were delivered to our Named Executive Officers in 2024.

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Transocean 2025 P-104 Proxy Statement

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| ​ | COMPENSATION DISCUSSION AND ANALYSIS |

| EXECUTIVE       |   |   |   |   | 2024 LTI TARGET VALUE 
              (U.S. $) |     |   |
| Mr. Thigpen     | ​ | ​ | ​ | ​ |             8,000,000 |     | ​ |
| Mr. Vayda