Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 102

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 102
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 | ​ | ​ | ​ | ​ |             1,497,916 |     | ​ |
| Mr. Adamson     | ​ | ​ | ​ | ​ |             3,400,000 |     | ​ |
| Mr. Long        | ​ | ​ | ​ | ​ |             2,181,818 |     | ​ |
| Mr. Mackenzie   | ​ | ​ | ​ | ​ |             1,650,000 |     | ​ |
| Former Officer: |   | ​ | ​ | ​ |                     ​ |     | ​ |
| Mr. Davis       | ​ | ​ | ​ | ​ |             2,150,000 |     | ​ |
| Mr. Mey         | ​ | ​ | ​ | ​ |             2,700,000 |     | ​ |

Each Named Executive Officer target LTI value is delivered in shares based on the following: ■Performance Units: one-half of the total LTI target value is divided by an approximated Grant Date Fair Value based on an estimated Monte Carlo valuation performed immediately prior to the date of grant; and ■Restricted Share Units: one-half of the total LTI target value is divided by a value equal to the average of our high-low trading prices for the 10 days immediately preceding the date of grant. This practice is utilized to most closely approximate the expected grant value. The values disclosed in the Summary Compensation Table reflect the actual grant date fair value and may vary slightly from the target value. In connection with his promotion to CFO, and in consultation with the Committee’s independent consultant, the Committee awarded Mr. Vayda a promotional equity grant in May 2024 calibrated to the compensation target of his new position and prorated for the portion of the year following his promotion, delivered equally in PSUs and RSUs. The total LTI value granted to Mr. Vayda for 2024 was $1,497,916 as shown in the preceding table. Based on his compensation package approved by the Committee in May 2024, Mr. Vayda’s LTI target value for a full year as CFO would be $1,875,000. PERFORMANCE UNITS (“PSU”) In 2024, the Committee decided to base the 2024 PSU design 100% on the market-based measure of relative Total Shareholder Return (“TSR”). The target award value of the 2024 PSU grants to each of the Named Executive Officers was weighted at 50% of each