[Form 4] Seadrill Limited Insider Trading Activity

Rhea-AI Filing Summary

Seadrill Limited (SDRL) Form 4: Simon Johnson, President & CEO, reported transactions on 08/27/2025 related to performance-based restricted stock units and a subsequent disposition. A certification by the Board committee credited 60.86% of previously granted performance RSUs, resulting in 75,871 restricted stock units being earned and settled into common shares. On the same date a separate transaction disposed of 32,716 common shares at $31.97 per share. Following the reported activity, the filing shows beneficial ownership figures of 121,735 shares (after the award) and 89,019 shares (after the disposition). The Form 4 is signed by an attorney-in-fact on 08/28/2025.

Positive

• Performance award certified at 60.86%, resulting in 75,871 RSUs settling into common shares
• Detailed disclosure of both the RSU settlement and the contemporaneous disposition, supporting transparency

Negative

• Reporting person disposed of 32,716 shares at $31.97, reducing beneficial ownership to 89,019 shares

Insights

Financial Analyst

TL;DR: CEO received 75,871 earned RSUs (60.86% payout) and sold 32,716 shares at $31.97, netting a reduction in beneficial holdings.

The reported vesting reflects realization of performance-based compensation granted in 2022, with the Joint Nomination and Remuneration Committee certifying achievement at 60.86%. The settlement of 75,871 RSUs increases issued common shares to the reporting person before the subsequent disposition. The sale of 32,716 shares at $31.97 reduces his post-transaction beneficial ownership to 89,019 shares per the filing. This is a routine executive compensation settlement and partial sale; the filing contains no additional financial metrics or forward-looking items.

Corporate Governance Expert

TL;DR: This is a standard disclosure of earned performance RSUs vesting and an immediate partial disposition; governance process is documented by committee certification.

The Form 4 documents the culmination of a multi-year performance award granted on August 6, 2022, and shows committee certification of performance achievement on August 27, 2025. The filing is signed by an attorney-in-fact, consistent with procedural practice. There are no indications of unusual related-party transactions or changes in role; the report simply records compensation vesting and a contemporaneous sale.

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
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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^*

Johnson Simon

(Last) (First) (Middle)

11025 EQUITY DRIVE, SUITE 150

(Street)

HOUSTON TX 77041

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Seadrill Ltd [ SDRL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/27/2025

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
Common Shares	08/27/2025		M		75,871	A	(1)	121,735	D
Common Shares	08/27/2025		F		32,716	D	$31.97	89,019	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
Restricted Stock Units	(1)	08/27/2025		M			75,871	(1)	(1)	Common Shares	75,871	(1)	0	D

Explanation of Responses:

1. On August 6, 2022, the reporting person was granted 124,662 performance-based restricted stock units, each of which represented a contingent right to receive one common share, par value $0.01 per share (a "Common Share"), of Seadrill Limited (the "Company"). The restricted stock units could be earned based on the extent the Company maintained or exceeded set per Common Share trading prices for a period of at least 45 consecutive trading days over the period beginning on August 6, 2022 and ending on August 6, 2025. The earned restricted stock units vested subject to the reporting person's continued employment during such period. On August 27, 2025, the Joint Nomination and Remuneration Committee of the Board of Directors of the Company certified achievement of the performance goals at 60.86%.

	/s/ Todd D. Strickler, attorney-in-fact	08/28/2025
	** 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 RSU payout was reported for Simon Johnson on the Form 4 for SDRL?

The Joint Nomination and Remuneration Committee certified performance at 60.86%, resulting in 75,871 restricted stock units being earned and settled into common shares.

How many shares did Simon Johnson sell and at what price?

The Form 4 reports a disposition of 32,716 common shares at a price of $31.97 per share on 08/27/2025.

What were Simon Johnson's beneficial holdings after the transactions?

The filing lists beneficial ownership of 121,735 shares after the RSU settlement and 89,019 shares after the reported disposition.

When were the original performance RSUs granted?

The performance-based restricted stock units were granted on August 6, 2022 and were subject to a performance period ending on August 6, 2025.

Who signed the Form 4 filing for Simon Johnson?

The Form 4 was signed by Todd D. Strickler, attorney-in-fact on 08/28/2025.