Adamson Keelan 4

What Happened

• Adamson Keelan, President and CEO of Transocean Ltd. (RIG), had multiple equity transactions around Feb 5–6, 2026. He acquired 712,831 restricted share units (RSUs) under the company’s long-term incentive plan and converted/exercised 130,738 derivative units into common shares (acquired at $0). To satisfy tax withholding obligations, 51,709 shares were sold on Feb 6 at $4.99 per share, generating ~$258,028.

Key Details

• Transactions and prices:
  • Feb 5, 2026: Conversion/exercise of 130,738 derivative shares @ $0.00 (acquired). (Code M)
  • Feb 5, 2026: Grant of 712,831 restricted share units @ $0.00 (acquired). (Code A)
  • Feb 6, 2026: Sale of 51,709 shares @ $4.99 (disposed) to satisfy tax withholding ≈ $258,028. (Code F)
• Shares owned after the transactions: Not specified in the filing.
• Footnotes:
  • F1: Deferred units awarded Feb 9, 2023 vested on Feb 5, 2026 after performance measures were met.
  • F2: The 51,709 shares were sold upon vesting to satisfy tax withholding obligations.
  • F3: The 712,831 restricted units vest in three tranches: 237,610 on Mar 1, 2027; 237,610 on Mar 1, 2028; and 237,611 on Mar 1, 2029.
• Filing timeliness: Report filed Feb 9, 2026 for transactions on Feb 5–6, 2026 — appears timely (within Form 4 reporting window).

Context

• The filing shows an award of RSUs and conversion of vested/derivative units rather than an open-market purchase or voluntary sale. The small sale (51,709 shares) was a routine tax-withholding transaction on vesting—not necessarily an indication of sentiment about the stock. The newly granted RSUs vest over 2027–2029, so most of the award remains time- and service-based compensation.