Adamson Keelan 4

What Happened

• Adamson Keelan, President & CEO of Transocean Ltd. (RIG), had 180,931 restricted share units convert to common shares on May 1, 2026 (reported as an exercise/conversion of a derivative at $0.00). A portion of those vested shares—71,556—were sold on May 4, 2026 to satisfy tax withholding, generating proceeds of about $488,012 (71,556 shares × $6.82).
• This was not a market purchase for investment: it was a scheduled vesting of long‑term incentive units followed by a withholding sale to cover taxes (routine corporate compensation event).

Key Details

• Transaction dates & codes: 2026-05-01 conversion/exercise of derivative (Code M) — 180,931 shares @ $0.00 acquired; 2026-05-04 sale for tax withholding (Code F) — 71,556 shares @ $6.82 disposed (≈ $488,012).
• Resulting shares from this vesting: 180,931 vested, 71,556 sold for taxes, leaving 109,375 shares retained from this tranche. The filing does not state Keelan’s total beneficial ownership across all holdings.
• Footnotes: These were 1-for-1 restricted units granted May 1, 2025 under the company’s LTIP; one-third vested May 1, 2026. The remaining tranches (180,931 each) vest on March 1, 2027 and March 1, 2028. Sale was explicitly to satisfy tax obligations.
• Filing timeliness: Form 4 filed on May 5, 2026; the report includes the May 1 and May 4 transactions and was filed within the normal reporting window.

Context

• This is a routine vesting and tax-withholding sale tied to long-term incentive compensation—not a discretionary open-market sale indicating a change in investment stance. For derivative-style entries, an M code indicates conversion/exercise; F indicates shares withheld/sold to cover taxes.