Form 4: Transocean CEO Sells Shares Under 10b5-1 Plan

Transocean Ltd.'s President and CEO, Keelan Adamson, sold a total of 81,533 registered shares in late January 2026, pursuant to a pre-arranged Rule 10b5-1 trading plan.

Summary

• Keelan Adamson, President and CEO, and a Director of Transocean Ltd. (RIG), reported sales of company shares.
• A total of 81,533 registered shares were sold across two transactions on January 26, 2026, and January 27, 2026.
• On January 26, 2026, 22,846 shares were sold at a price of $5.00 per share.
• On January 27, 2026, 58,687 shares were sold at a weighted average price ranging from $5.00 to $5.01 per share.
• These sales were executed under a Rule 10b5-1 trading plan, which was adopted by Mr. Adamson on March 28, 2025.
• Following these transactions, Mr. Adamson beneficially owns 1,222,182 registered shares directly.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to insider selling by the CEO, although mitigated by the fact it was conducted under a pre-arranged 10b5-1 plan, suggesting it was not based on new, adverse information.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating the transactions were scheduled in advance and not based on new, undisclosed material information.

Negatives

• Insider selling by a high-ranking executive, such as the President and CEO, can sometimes be perceived negatively by the market, potentially signaling a lack of confidence or a desire to diversify personal holdings.

Risks

• Market perception of insider selling could lead to short-term negative sentiment or downward pressure on the company's stock price.
• A reduction in the CEO's direct equity stake might be interpreted by some investors as a decrease in alignment with shareholder interests, even if the sale is pre-planned.

Future Outlook

NA

Industry Context

This filing reports an individual insider transaction and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders may react to the news of the CEO selling shares, potentially influencing short-term trading decisions and market sentiment.

Next Steps

• The reporting person undertakes to provide Transocean Ltd., any security holder, or the SEC staff, upon request, full information regarding the number of shares purchased at each separate price within the reported ranges.

Key Dates

Keywords

Transocean, RIG, Form 4, insider trading, share sale, Keelan Adamson, CEO, director, 10b5-1 plan, equity transaction