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Transocean (RIG) SVP Pack logs share vesting and tax-related disposition

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Transocean Ltd. senior vice president and chief accounting officer Jason Pack reported equity transactions tied to vesting restricted share units. On March 1, 2026, multiple tranches of restricted units vested, giving him the right to receive registered shares at prices around $6.25 per share under the long‑term incentive plan.

Footnotes state these restricted units are 1‑for‑1 share equivalents from grants made in 2023, 2024, and 2025, with additional units scheduled to vest in 2027 and 2028. On March 3, 2026, 27,962 registered shares at $6.12 per share were disposed of to satisfy tax withholding obligations upon vesting, leaving him with 262,103 registered shares held directly.

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Insider Pack Jason
Role SVP, Chief Accounting Officer
Type Security Shares Price Value
Tax Withholding Registered Shares 27,962 $6.12 $171K
Exercise Registered Shares 15,134 $6.25 $95K
Exercise Registered Shares 19,210 $6.25 $120K
Exercise Registered Shares 2,901 $6.25 $18K
Exercise Registered Shares 32,324 $6.25 $202K
Holdings After Transaction: Registered Shares — 262,103 shares (Direct)
Footnotes (1)
  1. Restricted Units, which are 1-for-1 share equivalents, acquired on February 9, 2023, pursuant to the Issuer's long-term incentive plan. One third of such restricted share units vested on March 1, 2026, resulting in the right of the reporting person to receive the registered shares. Restricted Units, which are 1-for-1 share equivalents, acquired on February 8, 2024, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2026, resulting in the right of the reporting person to receive the registered shares. The remaining restricted share units vest as follows: 19,210 on March 1, 2027. Restricted Units, which are 1-for-1 share equivalents, acquired on May 16, 2024, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2026, resulting in the right of the reporting person to receive the registered shares. The remaining restricted share units vest as follows: 2,901 on March 1, 2027 Restricted Units, which are 1-for-1 share equivalents, acquired on February 13, 2025, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2026, resulting in the right of the reporting person to receive the registered shares. The remaining restricted share units vest as follows: 32,324 on March 1, 2027 and 32,324 on March 1, 2028. Shares sold upon vesting to satisfy tax withholding obligations.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Pack Jason
(Last) (First) (Middle)
1414 ENCLAVE PARKWAY
(Street)
HOUSTON TX 77077
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Transocean Ltd. [ RIG ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
SVP, Chief Accounting Officer
3. Date of Earliest Transaction (Month/Day/Year)
03/01/2026
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Registered Shares 03/01/2026 M 15,134(1) A $6.25 235,630 D
Registered Shares 03/01/2026 M 19,210(2) A $6.25 254,840 D
Registered Shares 03/01/2026 M 2,901(3) A $6.25 257,741 D
Registered Shares 03/01/2026 M 32,324(4) A $6.25 290,065 D
Registered Shares 03/03/2026 F 27,962(5) D $6.12 262,103 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Restricted Units, which are 1-for-1 share equivalents, acquired on February 9, 2023, pursuant to the Issuer's long-term incentive plan. One third of such restricted share units vested on March 1, 2026, resulting in the right of the reporting person to receive the registered shares.
2. Restricted Units, which are 1-for-1 share equivalents, acquired on February 8, 2024, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2026, resulting in the right of the reporting person to receive the registered shares. The remaining restricted share units vest as follows: 19,210 on March 1, 2027.
3. Restricted Units, which are 1-for-1 share equivalents, acquired on May 16, 2024, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2026, resulting in the right of the reporting person to receive the registered shares. The remaining restricted share units vest as follows: 2,901 on March 1, 2027
4. Restricted Units, which are 1-for-1 share equivalents, acquired on February 13, 2025, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2026, resulting in the right of the reporting person to receive the registered shares. The remaining restricted share units vest as follows: 32,324 on March 1, 2027 and 32,324 on March 1, 2028.
5. Shares sold upon vesting to satisfy tax withholding obligations.
/s/ Debra Kupferman by Power of Attorney 03/03/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Transocean (RIG) report for Jason Pack?

Jason Pack reported vesting of long-term incentive awards and related share movements. Several restricted unit grants vested into registered shares on March 1, 2026, followed by a March 3, 2026 share disposition solely to cover tax withholding obligations on those vestings.

How many Transocean shares did Jason Pack dispose of for taxes?

He disposed of 27,962 registered shares at $6.12 per share to satisfy tax withholding obligations. The filing specifies this as a tax-withholding disposition, not an open-market sale, tied directly to the vesting of previously granted restricted share units.

What type of equity awards vested for Transocean (RIG) executive Jason Pack?

The transactions involve restricted units that are 1-for-1 equivalents of registered shares. These units were granted in 2023, 2024, and 2025 under Transocean’s long-term incentive plan, with one-third portions vesting on March 1, 2026 and delivering registered shares.

How many Transocean shares does Jason Pack own after these Form 4 transactions?

After the reported vesting and tax-withholding disposition, Jason Pack directly owns 262,103 registered shares. This figure reflects his holdings following the March 3, 2026 tax-related share disposition associated with the vesting of restricted share units.

Do Jason Pack’s restricted units at Transocean have future vesting dates?

Yes. Footnotes state remaining restricted share units vest in future years, including 19,210 units on March 1, 2027, 2,901 units on March 1, 2027, and further tranches of 32,324 units on March 1, 2027 and March 1, 2028 under the incentive plan.