ROBERTSON JULIE J 4

What Happened
Julie J. Robertson, a director of Seadrill Ltd (SDRL), received 6,075 common shares on May 14, 2026 when restricted stock units (RSUs) converted to common stock. The Form 4 shows an acquisition of 6,075 shares (conversion of a derivative) and a matching disposition of 6,075 shares at $0.00. No cash proceeds are reported for the disposition.

Key Details

• Transaction date: 2026-05-14 (reported on Form 4 filed 2026-05-18). Filing was timely (filed within two business days).
• Acquired: 6,075 shares via conversion of RSUs (transaction code M). Price: N/A.
• Disposed: 6,075 shares at $0.00 (reported proceeds $0).
• Footnotes: F1 — RSUs convert one-for-one into common shares (par $0.01). F2 — These 6,075 RSUs were granted 2025-05-14 and vested on the first anniversary (2026-05-14).
• Shares owned after the transaction are not provided in the filing excerpt.

Context
This was not an open-market purchase or sale; it reflects vested RSUs converting into shares. A $0.00 disposition commonly indicates net settlement or share withholding (e.g., to cover taxes) rather than a sale for cash. Such award vestings are routine compensation events and do not, by themselves, signal insider buying or selling intent.