Transocean (NYSE: RIG) CEO sells 81,533 planned shares at about $5

Rhea-AI Filing Summary

Transocean Ltd. President and CEO Keelan Adamson sold 81,533 registered shares in pre-planned transactions. The sales occurred on January 26, 2026 and January 27, 2026 at prices around $5.00 per share under a Rule 10b5-1 trading plan adopted on March 28, 2025.

He sold 22,846 shares at $5.00 and 58,687 shares at a weighted average price of $5.00, with individual trades ranging from $5.00 to $5.01. After these transactions, he directly owns 1,222,182 registered shares of Transocean.

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).

X

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^*

Adamson Keelan

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PRESIDENT AND CEO

3. Date of Earliest Transaction (Month/Day/Year)
01/26/2026

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	01/26/2026		S(1)		22,846	D	$5	1,280,869	D
Registered Shares	01/27/2026		S(1)		58,687	D	$5(2)	1,222,182	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. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 28, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.00 to $5.01, inclusive. The reporting person undertakes to provide Transocean Ltd. (the "Company"), any security holder of the Company, or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote (2) to this Form 4.

	/s/ Debra Kupferman by Power of Attorney	01/28/2026
	** 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.

FAQ

What insider transactions did Transocean (RIG) report for CEO Keelan Adamson?

Transocean reported that CEO Keelan Adamson sold 81,533 registered shares in two transactions. The sales occurred on January 26 and January 27, 2026, at prices around $5.00 per share under a pre-established Rule 10b5-1 trading plan.

At what prices did the Transocean (RIG) CEO sell his shares?

Keelan Adamson sold 22,846 shares at $5.00 per share and 58,687 shares at a weighted average price of $5.00. The second sale involved multiple trades executed between $5.00 and $5.01 per share, according to the Form 4 footnote disclosure.

How many Transocean (RIG) shares does the CEO still own after these sales?

After the reported Form 4 transactions, CEO Keelan Adamson directly owns 1,222,182 registered Transocean shares. This figure reflects his holdings following the January 27, 2026 sale and provides investors context on his remaining equity stake in the company.

Were the Transocean (RIG) CEO share sales under a Rule 10b5-1 plan?

Yes. The filing states the sales were executed under a Rule 10b5-1 trading plan adopted by Keelan Adamson on March 28, 2025. Such plans allow pre-scheduled trading, helping separate personal trading decisions from day-to-day corporate developments.

What is the total number of Transocean (RIG) shares sold in this Form 4?

The Form 4 shows CEO Keelan Adamson sold a total of 81,533 registered shares. This total comes from 22,846 shares sold on January 26, 2026 and 58,687 shares sold on January 27, 2026 at prices around $5.00 per share.

Does the Transocean (RIG) Form 4 mention how detailed pricing information can be obtained?

Yes. The filing notes that the reported weighted average price reflects multiple trades between $5.00 and $5.01. It states Adamson will provide full trade-by-trade pricing details to Transocean, its shareholders, or SEC staff upon request.