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

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 14
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 a vote “AGAINST” this proposal. (5) Affirmative vote of a plurality of the votes cast at the 2025 Annual General Meeting. The plurality requirement means that the nominee who receives the largest number of votes for a position as a director, or the Chair or a position on the Compensation Committee, as applicable, is elected to that position. Only votes “FOR” are counted in determining whether a plurality has been cast in favor of a nominee. Abstentions, broker non-votes, blank or invalid ballots are not counted for such purposes and shall have no impact on the election of such nominees. As described later in this proxy statement, our Corporate Governance Guidelines set forth our procedures if a nominee for director is elected but does not receive more votes cast “FOR” than “AGAINST” the nominee’s election. (6) Even if a nominee receives a plurality of votes that nominee may not ultimately serve as a director if the nominee does not receive more votes cast “FOR” than “AGAINST” the nominee’s election, and the Company’s Board of Directors accepts the resignation of the nominee pursuant to the Company’s majority vote policy, as described later in this proxy statement. (7) The proposal is an advisory vote; as such, the vote is not binding on the Company. OUTSTANDING SHARES As of March 6, 2025, there were 883,261,456 Transocean Ltd. shares deemed to be outstanding, which exclude an aggregate of 57,567,445 shares held by us and our subsidiary as of such date. Only registered holders of our shares on May 12, 2025, the record date established for the 2025 Annual General Meeting, are entitled to notice of and to vote at the meeting. Holders of shares on the record date are entitled to one vote for each share held. VOTING PROCEDURES A copy of the Notice of Internet Availability of Proxy Materials is being sent to each shareholder registered in Transocean Ltd.’s share register as of the close of business on March 25, 2025. Any additional shareholders who are registered in Transocean Ltd.’s share register as of the close of business on May 12, 2025, but who were not registered in the share register as of March 25, 2025, will receive a copy of the proxy materials, including a proxy card, as soon as practicable after May 12, 2025. Shareholders not registered in Transocean Ltd.’