Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 119

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 119
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 Share Units – prorated portion of award vestsPerformance Share Units and Performance Cash – prorated portion of award vests based on actual performance after the performance period endsStock Options – unvested portion of award terminates immediately; vested and outstanding will remain exercisable for one year following termination (or until option expiration, if sooner) |
| Termination due to Death or Disability                          | ​ | ​ | Restricted Share Units – award vestsPerformance Share Units and Performance Cash – prorated portion of award vests based on actual performance after the performance period endsStock Options – award vests and all vested and outstanding will remain exercisable for one year following termination (or until option expiration (or until option expiration, if sooner)                       |
| Involuntary termination not-for-cause after a Change of Control | ​ | ​ | Restricted Share Units – award vestsPerformance Share Units and Performance Cash – award vests based on target performanceStock options – awards vest and all vested and outstanding will remain exercisable for one year following termination (or until option expiration, if sooner)                                                                                                         |

The following table sets forth certain information with respect to compensation that would be payable to the Named Executive Officers as of December 31, 2024, upon a variety of termination scenarios. It does not include benefits that are generally available to salaried employees on a non-discriminatory basis, including payments that would be made under the Company’s life and disability insurance plans, and unused vacation days.

Transocean 2025 P-120 Proxy Statement

| ​ |                        |
| ​ | EXECUTIVE COMPENSATION |

As of December 31, 2024, the Named Executive Officers of the Company were eligible for the Executive Severance Benefit Policy. However, members of the Executive Management Team are further subject to the full limitations of the Minder Ordinance regarding severance.

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| ​                      |   | ​                         |   |       CASH |   |      NON-EQUITY |   |   |               ​ |   |   | ​         |   | RETIREMENT |   |          ​ |
| ​                      | ​ | ​                         | ​ |  SEVERANCE | ​ |       INCENTIVE |   | ​ |               ​ |   | ​ | OPTION    | ​ |       PLAN | ​ |          ​ |