Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 121

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 121
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 in 2023 to provide that in the event of a qualifying termination in connection with a change of control, qualifying executives who directly report to the Chief Executive Officer of the Company will be eligible to receive a lump sum cash payment equal to two times such executive’s base salary. For Mr. Davis this includes payments associated with his participation in the Voluntary Early Retirement Plan. (3) Amounts payable for the 2024 annual cash bonus earned. For Mr. Davis this includes payments associated with his participation in the Voluntary Early Retirement Plan. (4) These amounts represent the value of restricted share units and performance share units that would vest upon the triggering event, based on U.S. $3.75, the closing stock price on the last trading day of 2024. (5) These amounts represent the (“in-the-money”) value of vested and unvested stock options. (6) These amounts represent the present value of PEP and Savings Restoration Plan benefits, which would have been payable as of December 31, 2024. (7) In addition to the benefits listed in the preceding table, payments will also be made under the Company’s life and disability insurance plans, a benefit that is generally available to all employees. (8) Per the terms of the Voluntary Early Retirement Program that Mr. Davis participated in, his equity will continue to vest as if he remained an employee of the Company through the original vesting schedule of the equity grants included in this table.

Transocean 2025 P-122 Proxy Statement

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| ​ | EXECUTIVE COMPENSATION |

CEO Pay Ratio As of December 31, 2024, we had a global workforce of approximately 5,400 employees comprised of approximately 2,000 U.S. employees and approximately 3,400 non-U.S. employees. Pursuant to the Exchange Act, the Company is required to disclose in this proxy statement the ratio of the total annual compensation of our CEO to the total annual compensation of our median employee. Based on SEC rules for this disclosure and applying the methodology described below, the Company determined that our CEO’s total compensation for 2024 was $10,938,141 and the 2024 total compensation of the median employee in U.S. dollars was $108,600. Accordingly, for 2024, the Company estimates the ratio of our CEO’s total compensation to the median total compensation of all employees to be 101 to 1. Due to changes in our employee population and compensation