Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 48

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 48
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         35,000 | ​ |   |         35,000 | ​ |   |         35,000 | ​ |
| Compensation Committee                                           | ​ |         20,000 | ​ | ​ |         20,000 | ​ | ​ |         20,000 | ​ |
| Finance Committee and Governance, Safety & Environment Committee | ​ |         10,000 | ​ | ​ |         10,000 | ​ | ​ |         10,000 | ​ |
| TARGET VALUE OF RESTRICTED SHARE UNITS                           | ​ |              ​ |   | ​ |              ​ |   | ​ |              ​ |   |
| Non-employee chair                                               | ​ |        215,000 | ​ | ​ |        215,000 | ​ | ​ |        215,000 | ​ |
| Non-employee directors (other than the chair)                    | ​ |        210,000 | ​ | ​ |        210,000 | ​ | ​ |        210,000 | ​ |

A more detailed description of the compensation principles currently in effect for our Board of Directors can be found under “Board Meetings and Committees—Director Compensation Strategy.” The actual amounts paid to each member of the Board of Directors for fiscal year 2024 are disclosed under “2024 Director Compensation” and in our Swiss Compensation Report under the caption “Board of Directors’ Compensation.” PROPOSAL FOR RATIFICATION OF MAXIMUM AGGREGATE AMOUNT The Board of Directors proposes that the shareholders ratify an amount of $4,121,000 as the maximum aggregate amount of compensation that the Company may pay to the Board of Directors for the 2025/2026 Term. The proposed aggregate maximum amount has been calculated based on the directors’ compensation elements as outlined above and represents no change from the maximum aggregate amount of compensation for the prior nine terms since the Swiss compensation regulations were first implemented for the 2015/2016 Term; all of which were approved by shareholders. The total compensation paid to the Board of Directors for the 2024/2025 Term was $3,100,440, which is below the $4,121,000 previously approved by shareholders at the 2024 Annual General Meeting.

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| RECOMMENDATIONThe Board of Directors recommends that you vote FOR this Agenda Item 12A. |

Transocean 2025 P-57 Proxy Statement

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| AGENDA ITEM 12