Sauer-Petersen Torsten 4

What Happened

• Torsten Sauer‑Petersen, EVP, Chief Technology & Sustainability Officer of Seadrill Ltd (SDRL), had 3,913 restricted stock units (RSUs) convert into common shares on April 17, 2026. To satisfy tax withholding, 1,540 shares were withheld at $46.17 per share for a total withholding value of $71,102. The net shares delivered to Sauer‑Petersen were 2,373 (3,913 converted − 1,540 withheld). The filing shows the RSU/derivative was settled/converted (recorded as a derivative disposition at $0).

Key Details

• Transaction date: April 17, 2026.
• Conversion: 3,913 RSUs converted into 3,913 common shares (one‑for‑one).
• Tax withholding: 1,540 shares withheld at $46.17/share = $71,102.
• Net shares to insider: 2,373 shares.
• Footnotes: RSUs convert one‑for‑one to common shares (F1). The RSUs were part of a grant of 11,738 RSUs on April 17, 2024 that vest in three equal annual installments (F2)—this appears to be one installment vesting.
• Filing timeliness: Form 4 filed April 21, 2026 (reported transaction April 17); filing is within the typical two‑business‑day window and is timely.

Context

• This was a scheduled RSU vesting and conversion, not an open‑market purchase or discretionary sale (other than shares withheld to cover taxes). The withholding is a routine tax‑satisfaction mechanism (share‑withholding/cashless settlement), not a market sale indicating sentiment. The filing shows the RSU derivative was settled and converted into common shares. Shares owned after the transaction are not stated in the filing.