Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 120

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 120
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 ​ |       ― | ​ | ​ | 2,410,194 | ​ | ​ | — | ​ |   758,333 | ​ | 3,168,527 |
| ​                   | ​ | Disability(7)             | ​ |       ― | ​ |       ― | ​ | ​ | 2,410,194 | ​ | ​ | — | ​ |   758,333 | ​ | 3,168,527 |
| ​                   | ​ | Change of Control         | ​ |       ― | ​ |       ― | ​ | ​ | 2,410,194 | ​ | ​ | — | ​ |   758,333 | ​ | 3,168,527 |

(1) These amounts represent obligations of the Company under agreements currently in place and valued as of December 31, 2024. Agreements do not provide for any single-trigger payments upon a change of control. (2) Amounts payable under the terms of the Executive Severance Benefit Policy in connection with a qualifying termination. This includes a lump sum cash payment equal to one year of base salary, as well as outplacement services (not to exceed 5% of base salary) for Messrs. Long and Mackenzie. The Executive Severance Benefit Policy was amended and restated in 2023 to provide that in the event of a qualifying termination in connection with a change of control, qualifying executives who directly report to the Chief Executive Officer of the Company will be eligible to receive a lump sum cash payment equal to two times such executive’s base salary. For Mr. Davis this includes payments associated with his participation in the Voluntary Early Retirement Plan. (3) Amounts payable for the 2024 annual cash bonus earned. For Mr. Davis this includes payments associated with his participation in the Voluntary Early Retirement Plan. (4) These amounts represent the value of restricted share units and performance share units that would vest upon the triggering event, based on U.S. $3.75, the closing stock price on the last trading day of 2024. (5) These amounts represent the (“in-the-money”) value of vested and unvested stock options. (6) These amounts represent the present value of PEP and Savings Restoration Plan benefits, which would have been payable as of December 31, 2024. (7) In addition to the benefits listed in the preceding table, payments will also be made under the Company’s life and disability insurance plans, a benefit that