Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 46

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 46
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 advisory vote on executive compensation every year for the Company’s Named Executive Officers. As a result, the Board of Directors determined that the Company will hold an advisory vote on executive compensation once every year until the 2029 Annual General Meeting, which, in accordance with applicable law, is the next required vote on the frequency of shareholder votes on the compensation of Named Executive Officers of the Company. Our compensation program for our Named Executive Officers is designed to reward performance that creates long-term value for the Company’s shareholders through the following features, which are discussed in more detail in our Compensation Discussion and Analysis:

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| ■ | Annual cash bonuses based on performance as measured against pre-determined performance goals;                                                                                                           | ​ | ■ | A share ownership policy that requires our executive officers to build and maintain an appropriate equity stake in the Company to further align our executive officers’ interests with the long-term interests of our shareholders;                                                                                                        |
| ■ | A compensation mix weighted toward long-term incentives to allow our Named Executive Officers to participate in the long-term growth and profitability of the Company;                                   | ​ | ■ | Hedging and pledging policies that prohibit any of our executive officers from hedging or pledging our shares or holding derivative instruments tied to our shares, other than derivative instruments issued by us; and                                                                                                                    |
| ■ | Long-term incentives include performance share units that vest based upon the Company’s total shareholder return compared to the companies in our performance peer groups and Free Cash Flow generation; | ​ | ■ | The Executive Officer Incentive-Based Compensation Recoupment Policy, a clawback policy in accordance with SEC and NYSE requirements, providing for the recovery of certain erroneously awarded incentive-based compensation (cash and equity) received by current and former executive officers in the case of an accounting restatement. |
| ■ | Median pay positioning for target performance, above median pay for above target performance, and below median pay for below target performance;                                                         | ​ | ​ | ​                                                                                                                                                                                                                                                                                                                                          |

Transocean 2025 P-54 Proxy Statement

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| ​ | AGENDA ITEM 11 |

The vote on this proposal is advisory and therefore not binding on the Company, the Compensation Committee or the Board of Directors. The Board of Directors and the Compensation Committee value the opinions of our shareholders. Following the 2025 Annual General Meeting, we will consider our shareholders’ feedback and the Compensation Committee will evaluate whether any actions are necessary to address this