Form 4: Transocean Ltd. Executive Adamson Keelan Reports Share Acquisitions and Disposals Following Vesting of Restricted Units
SEC Form 4
Transocean's President and COO, Adamson Keelan, reports the acquisition of registered shares through vesting of restricted units and subsequent disposal to cover tax obligations.
Summary
- On March 1, 2025, Adamson Keelan, President and COO of Transocean Ltd., acquired registered shares through the vesting of restricted units granted under the company's long-term incentive plan.
- These restricted units, which are 1-for-1 share equivalents, vested in three tranches based on grants from February 2022, February 2023, and February 2024.
- Specifically, 134,875 shares vested from the 2022 grant, 67,731 shares from the 2023 grant, and 104,397 shares from the 2024 grant, all at a price of $2.95.
- Following these transactions, Adamson Keelan beneficially owned 1,532,519 registered shares.
- On March 3, 2025, 121,425 shares were disposed of at $2.95 to satisfy tax withholding obligations, reducing the beneficial ownership to 1,411,094 shares.
- The remaining restricted share units from the February 2023 grant will vest on March 1, 2026 (67,731 shares).
- The remaining restricted share units from the February 2024 grant will vest on March 1, 2026 (104,397 shares) and March 1, 2027 (104,397 shares).
Sentiment
Score: 5
Explanation: This is a neutral report on routine executive stock transactions. It doesn't indicate positive or negative performance for the company.
Future Outlook
Remaining restricted share units from the February 2023 grant will vest on March 1, 2026 (67,731 shares), and from the February 2024 grant will vest on March 1, 2026 (104,397 shares) and March 1, 2027 (104,397 shares).
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for companies with equity-based compensation plans. It provides transparency into the holdings and transactions of key executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they relate to executive compensation and do not represent a significant change in the company's financial position.
Key Dates
| Date | Description |
|---|---|
| February 10, 2022 | Date of acquisition of restricted units, which are 1-for-1 share equivalents, pursuant to the Issuer's long-term incentive plan. |
| February 9, 2023 | Date of acquisition of restricted units, which are 1-for-1 share equivalents, pursuant to the Issuer's long-term incentive plan. |
| February 8, 2024 | Date of acquisition of restricted units, which are 1-for-1 share equivalents, pursuant to the Issuer's long-term incentive plan. |
| March 1, 2025 | Vesting date of restricted units from 2022, 2023 and 2024 grants. |
| March 3, 2025 | Date of share disposal to satisfy tax withholding obligations. |
| March 1, 2026 | Future vesting date of remaining restricted units from the February 9, 2023 grant (67,731 shares). |
| March 1, 2026 | Future vesting date of remaining restricted units from the February 8, 2024 grant (104,397 shares). |
| March 1, 2027 | Future vesting date of remaining restricted units from the February 8, 2024 grant (104,397 shares). |
| 03/04/2025 | Date of signature of the report. |
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