Kjaervik Jan 4

What Happened

• Jan Kjaervik, a director of Seadrill Ltd (SDRL), reported the conversion/exercise (transaction code M) of 4,860 restricted stock units (RSUs) on May 14, 2026. The Form 4 shows an acquisition/conversion of 4,860 shares and a simultaneous disposition at $0.00, meaning no cash proceeds were recorded.
• This was not an open-market purchase or sale — it reflects compensation (RSUs vesting and converting to common shares) rather than a trade for cash.

Key Details

• Transaction date: 2026-05-14; Form 4 filed: 2026-05-18 (filed 4 days after the reported transaction).
• Price/Proceeds: Acquisition recorded as N/A; disposal recorded at $0.00 (no cash proceeds reported).
• Shares owned after transaction: not specified in the filing.
• Footnotes: (F1) The reporting person elected to defer receipt of the underlying common shares until separation from service or a change in control. (F2) RSUs convert one-for-one to common shares. (F3) The 4,860 RSUs were granted on 2025-05-14 and vested on 2026-05-14.
• Transaction code: M (exercise or conversion of a derivative/security right).

Context

• This filing documents the routine vesting/conversion of RSU compensation. The $0.00 disposal and footnote about deferral indicate the director did not receive cash or immediate free-trading shares — the shares were deferred per the company’s deferral election.
• Such filings reflect executive compensation events more than directional bets on the stock; purchases are generally considered stronger signals than vesting/conversions. The filing date is later than the usual two-business-day Form 4 requirement, which may be noted by regulators or investors.