Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 111

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 111
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 be forfeited in the event an executive’s conduct is in violation of human resource or legal compliance and ethics policies, including our Code of Integrity. NO HEDGING OR PLEDGING OF COMPANY SHARES Our Insider Trading Policy prohibits any employee, officer or director of the Company from engaging in short-term or speculative transactions in the Company’s securities. It therefore is the Company’s policy that employees, officers and directors and their family members and wholly-owned businesses not engage in any of the following transactions with respect to the Company’s securities:

| ​ | ​                             |
| ■ | Short sales;                  |
| ■ | Publicly traded options;      |
| ■ | Hedging transactions; and     |
| ■ | Margin accounts and pledging. |

Our Executive Officers and directors must certify compliance with the hedging and pledging provisions of our Insider Trading Policy on an annual basis, and all have done so. USE OF TALLY SHEETS The Committee reviews compensation tally sheets, prepared by management, that present comprehensive data on the total compensation and benefits package for each of our Named Executive Officers. Tally sheets include all current compensation obligations, as well as additional analyses with respect to payments at hypothetical terminations to consider the Company’s obligations under such circumstances. The Committee does not use the tally sheets to determine the various elements of compensation or the actual amounts of compensation to be approved but, rather, to evaluate the Company’s obligations under the various programs. Tax Impact on Compensation Section 162(m) of the Internal Revenue Code limits the annual tax deduction to $1 million for compensation paid by a publicly held company to its chief executive officer, its chief financial officer, and certain of the company’s other current and former executive officers.

Transocean 2025 P-111 Proxy Statement

#### COMPENSATION COMMITTEE REPORTThe Compensation Committee of the Board of Directors has reviewed and discussed the above Compensation Discussion and Analysis with management. Based on such review and discussions, the Compensation Committee recommended to the Company’s Board of Directors that the above Compensation Discussion and Analysis be included in this proxy statement.​​​MEMBERS OF THE COMPENSATION COMMITTEE​​​Glyn A. Barker, ChairVanessa C.L. ChangSamuel J. Merksamer​​​
Transocean 2025 P-112 Proxy Statement

EXECUTIVE COMPENSATION Summary Compensation Table The following table shows the compensation paid by the Company for the fiscal year ended December 31, 2024, to each of our Chief Executive Officer, Chief Financial Officer and the next three most highly