Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 49

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 49
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b of our Articles of Association. We use a combination of cash and equity compensation to attract, motivate and retain leaders from the global executive talent market within and outside our highly competitive industry and to achieve our objective of pay and performance alignment by delivering the vast majority of our Executive Management Team’s compensation opportunity as performance-based, ‘at-risk’ compensation. Our Executive Management Team’s compensation consists of: ■base salary, ■annual performance bonus, ■long-term incentives, which may be comprised of grants of restricted share units, performance share units, performance cash and stock options, and ■other compensation, including Company contributions to savings plans, pension plans, and life insurance premiums. For a detailed description of our compensation principles currently in effect for the Executive Management Team (and our other Named Executive Officers who are not members of the Executive Management Team), please refer to the section of this proxy statement under the caption: “Compensation Discussion and Analysis.” We recommend that our shareholders read our Articles of Association and the Compensation Discussion and Analysis to understand our Executive Management Team compensation principles and process when considering this proposal. The actual amounts paid to each member of the Executive Management Team for fiscal years 2022-2024 are disclosed in this proxy statement under the caption: “Executive Compensation—Summary Compensation Table,” and for fiscal years 2023 and 2024 in our Swiss Compensation Report under the caption: “Executive Management Team Compensation.” In addition to this binding vote on maximum Executive Management Team compensation, shareholders have had the opportunity since 2011 under U.S. law, subject to an advisory vote by shareholders and a determination

Transocean 2025 P-58 Proxy Statement

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| ​ | AGENDA ITEM 12 |

by the Board of Directors as to the frequency of such opportunity, to cast a retrospective advisory vote to approve the compensation paid to our Named Executive Officers (including our Executive Management Team members) for the fiscal year preceding the annual general meeting. Our shareholders have consistently expressed their support for the Company’s executive compensation principles, and for the prior nine years, the shareholder approval levels have been 91% or higher, with eight of those years exceeding 95%. Our shareholders are again provided the opportunity to cast a retrospective advisory vote to approve the compensation paid to our Named Executive Officers (including our Executive Management Team members) for fiscal year 2024, as is explained in detail in Agenda Item 11. The proposed maximum aggregate amount of compensation for the Executive Management Team for fiscal year 2026 is derived substantially from the Company