Creed Grant R 4

What Happened

• Grant R. Creed, Executive Vice President & Chief Financial Officer of Seadrill Ltd (SDRL), converted 6,020 restricted stock units (RSUs) into common shares on April 17, 2026. To cover tax withholding, 2,393 of those shares were surrendered at $46.17 each for a total withholding value of $110,485, leaving a net issuance of 3,627 shares to Creed.
• The filing shows the RSU conversion as derivative exercise (code M) and the withheld shares as tax withholding/disposition (code F). There was no cash purchase — this was an equity-compensation settlement (net-share settlement).

Key Details

• Transaction date: April 17, 2026; Form 4 filed April 21, 2026 (appears timely).
• Conversion: 6,020 RSUs converted into 6,020 common shares (derivative code M).
• Tax withholding: 2,393 shares withheld/disposed at $46.17 each, total $110,485 (code F).
• Net shares received: 6,020 − 2,393 = 3,627 shares.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 — RSUs convert one-for-one into common shares (par value $0.01). F2 — These RSUs were part of an April 17, 2024 grant of 18,059 RSUs vesting in three equal annual installments (this appears to be one vested installment).

Context

• This is a routine equity-compensation event (RSU vesting with net-share tax withholding) rather than an open-market buy or discretionary sale. The withholding of shares to satisfy tax obligations is common and does not necessarily indicate a change in the insider’s view of the company.