Mackenzie Roderick James 4

What Happened

Mackenzie Roderick James, EVP and Chief Commercial Officer of Transocean Ltd. (RIG), had multiple insider transactions reported for Feb 5–6, 2026. On Feb 5 he converted/received 67,411 shares from vested deferred units (derivative conversion) at $0.00 and was granted 204,939 restricted share units (RSUs) on the same date. On Feb 6 he sold 26,665 shares at $4.99 per share (total reported proceeds $133,058) to satisfy tax withholding obligations. The net immediate effect was conversion of vested units into shares and an RSU award that vests in future years; the sale was a routine tax-withholding transaction rather than an open-market cash sale.

Key Details

• Transaction dates and prices:
  • Feb 5, 2026: Conversion/exercise of derivative — 67,411 shares acquired @ $0.00 (value reported $0).
  • Feb 5, 2026: Grant/award of Restricted Share Units — 204,939 RSUs (derivative) @ $0.00.
  • Feb 6, 2026: Sale to cover taxes — 26,665 shares disposed @ $4.99 for $133,058.
• Footnotes:
  • The 67,411 conversion reflects deferred units awarded on Feb 9, 2023 that vested Feb 5, 2026 after performance measures were met.
  • The 26,665 shares were sold upon vesting to satisfy tax withholding obligations.
  • The 204,939 RSUs were granted Feb 5, 2026 and vest in three equal installments of 68,313 on Mar 1, 2027; Mar 1, 2028; and Mar 1, 2029.
• Shares owned after transaction: Not specified in this filing.
• Filing timeliness: Report filed Feb 9, 2026; the form does not show a late-filing indicator.

Context

• This filing reflects a vesting/conversion event plus a new RSU grant. The Feb 6 sale was a tax-withholding sale (common housekeeping activity) rather than a discretionary open-market sale intended to realize gains.
• For clarity: the RSUs are derivative awards that vest in future years and are not the same as immediately transferable shares. The conversion on Feb 5 converted previously deferred/performance units into shares.