Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 109

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 109
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| ■                                                                                                                                                                                                                                                                                 | Expertise on compensation strategy and program design;                                |
| ■                                                                                                                                                                                                                                                                                 | Information relating to the selection of the Company’s peer groups;                   |
| ■                                                                                                                                                                                                                                                                                 | Relevant market data and alternatives to consider when making compensation decisions; |

Transocean 2025 P-109 Proxy Statement

|                                      | ​ |
| COMPENSATION DISCUSSION AND ANALYSIS | ​ |

| ■ | Assistance in establishing and updating annual and long-term incentive guidelines;                                     |
| ■ | Periodic reviews of the total executive compensation program;                                                          |
| ■ | Regular assessment of realizable pay-for-performance; and                                                              |
| ■ | Support and advise as the Committee conducts its analysis of and makes its decisions regarding executive compensation. |

The Committee does not necessarily adopt all recommendations made by the compensation consultant but uses the consultant’s work as a reference in exercising its own judgment with respect to its own executive compensation actions and decisions. The compensation consultant participates in every meeting of the Committee and meets privately with the Committee at the Committee’s request. Our management provides information to the consultant but does not direct or oversee its activities with respect to our executive compensation program. OTHER ADVISORS From time-to-time, management engages other advisors to assist in providing advice to the Committee. Such advisors have included, among others, an outside law firm to provide advice regarding various legal issues, financial analysts to examine relevant performance metrics and an outside actuarial firm to evaluate benefit programs. The Committee evaluates these advisors for independence, when retained. No advisors other than Pay Governance were hired in 2024. MANAGEMENT Our Chief Executive Officer annually reviews the competitive pay position and the performance of each member of senior management other than himself. Our Chief Executive Officer’s conclusions and recommendations, including base salary adjustments and award amounts for the current year and target annual award amounts for the next year under our Bonus Plan (other than for himself), are presented to the Committee. The Committee makes all compensation decisions and approves all share-based awards for the Named Executive Officers and other Executive Officers. The Committee may exercise its discretion in modifying any compensation element to any Executive Officer, including reducing or increasing the payment amount for one or more components of such awards. Officers and other employees in our Human Resources Department assist our Chief Executive Officer with his recommendations and develop and present other recommendations regarding compensation to the Committee as needed. Our officers and other employees participate in Committee discussions in an informational and advisory capacity and have no authority in the Committee’s decision-making process. SHARE OWNERSHIP GUIDEL