Quarls Harry 4

What Happened

• Harry Quarls, a director of Seadrill Ltd (SDRL), reported the vesting/conversion of 4,860 restricted stock units (RSUs) on May 14, 2026. The filing shows a derivative conversion/acquisition of 4,860 shares and an offsetting disposition of 4,860 shares at $0.00. No cash proceeds were generated — this was not an open‑market sale or purchase.
• The filing lists no monetary value for the acquisition (N/A) and a $0.00 disposition price, reflecting that the underlying shares were converted but the reporting person elected to defer receipt rather than receive or sell the shares immediately.

Key Details

• Transaction date: 2026-05-14; Form 4 filed: 2026-05-18 (filed on time).
• Reported entries: acquired 4,860 derivative shares (conversion/vesting); disposed 4,860 derivative shares at $0.00.
• Shares owned after transaction: not disclosed in the filing.
• Footnotes:
  • F1: Quarls elected to defer receipt of the common shares underlying the RSUs until the earlier of separation from service or a change in control.
  • F2: RSUs convert into common shares on a one-for-one basis.
  • F3: The 4,860 RSUs were granted May 14, 2025 and vested on their first anniversary (May 14, 2026).
• Transaction code: M (exercise or conversion of a derivative/security).

Context

• This was a routine RSU vesting/conversion with a deferral election — not a purchase (bullish signal) nor a market sale. The $0.00 disposition indicates the shares were transferred as part of the deferral arrangement, not sold for cash.
• For retail investors, vested-but-deferred awards generally do not change immediate public float or indicate trading sentiment.