Seadrill (SDRL) director Harry Quarls converts 4,860 RSUs into common shares

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Seadrill Ltd director Harry Quarls exercised 4,860 restricted stock units into common shares. These units were granted on May 14, 2025 and fully vested on the first anniversary of the grant date, converting into common shares on a one-for-one basis.

Following the transaction, Quarls directly holds 16,269 common shares. He elected to defer receipt of the underlying common shares until the earlier of a separation from service with Seadrill or a change in control of the company, making this a compensation-related, non-market transaction.

Insider Trade Summary

4,860 shares exercised/converted

Mixed 2 txns

Insider Quarls Harry

Role null

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	4,860	$0.00	--
Exercise	Common Shares	4,860	$0.00	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct, null); Common Shares — 16,269 shares (Direct, null)

Footnotes (1)

The reporting person elected to defer the receipt of the common shares, par value $0.01 per share ("Common Shares"), of Seadrill Limited (the "Company") underlying the restricted stock units granted on May 14, 2025 until the earlier of (i) a separation from service from the Company and (ii) a change in control of the Company. Restricted stock units convert into Common Shares on a one-for-one basis. On May 14, 2025, the reporting person was granted 4,860 restricted stock units, all of which vested on the first anniversary of the grant date.

Key Figures

RSUs exercised: 4,860 units Common shares after transaction: 16,269 shares RSU grant size: 4,860 units +1 more

4 metrics

RSUs exercised 4,860 units Restricted stock units converted into common shares on May 14, 2026

Common shares after transaction 16,269 shares Direct common share holdings following RSU conversion

RSU grant size 4,860 units Restricted stock units granted on May 14, 2025

Exercise price per RSU $0.00 per unit Restricted stock units converted at no cash exercise price

Key Terms

restricted stock units, change in control, separation from service

3 terms

restricted stock units financial

"On May 14, 2025, the reporting person was granted 4,860 restricted stock units, all of which vested on the first anniversary of the grant date."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

change in control financial

"until the earlier of (i) a separation from service from the Company and (ii) a change in control of the Company."

A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.

separation from service financial

"until the earlier of (i) a separation from service from the Company and (ii) a change in control of the Company."

Form 4 Insider Transactions: What Each Field Means →

05/18/2026 - 11:21 AM

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^*

Quarls Harry

(Last)

(First)

(Middle)

4425 WESTWAY PARK BLVD., SUITE 170

(Street)

HOUSTON

TEXAS

77041

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/14/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Shares	05/14/2026		M		4,860⁽¹⁾	A	⁽²⁾	16,269	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽²⁾	05/14/2026		M			4,860	⁽³⁾	⁽³⁾	Common Shares	4,860⁽¹⁾	$0	0	D

Explanation of Responses:

1. The reporting person elected to defer the receipt of the common shares, par value $0.01 per share ("Common Shares"), of Seadrill Limited (the "Company") underlying the restricted stock units granted on May 14, 2025 until the earlier of (i) a separation from service from the Company and (ii) a change in control of the Company.

2. Restricted stock units convert into Common Shares on a one-for-one basis.

3. On May 14, 2025, the reporting person was granted 4,860 restricted stock units, all of which vested on the first anniversary of the grant date.

	/s/ Todd D. Strickler, attorney-in-fact	05/18/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Seadrill (SDRL) director Harry Quarls report?

Harry Quarls reported exercising 4,860 restricted stock units into Seadrill common shares. The transaction reflects a compensation-related derivative exercise, not an open-market trade, and increased his directly held common share position reported in this filing.

How many Seadrill (SDRL) shares does Harry Quarls hold after this Form 4?

After the reported transactions, Harry Quarls directly holds 16,269 Seadrill common shares. This figure reflects his position immediately following the conversion of 4,860 restricted stock units into common shares disclosed in the Form 4.

Were the Seadrill (SDRL) shares acquired by Harry Quarls bought on the open market?

No, the shares were not bought on the open market. They came from the exercise of 4,860 restricted stock units that convert into common shares on a one-for-one basis, as part of his director compensation.

When were Harry Quarls’ Seadrill (SDRL) restricted stock units granted and when did they vest?

The filing states that 4,860 restricted stock units were granted on May 14, 2025. All of these units vested on the first anniversary of the grant date before being converted into common shares reported in this Form 4.

Did Harry Quarls defer receipt of his Seadrill (SDRL) common shares from this RSU exercise?

Yes. He elected to defer receipt of the common shares underlying the 4,860 restricted stock units until the earlier of a separation from service with Seadrill or a change in control of the company, according to the footnotes.

What does the Form 4 reveal about remaining Seadrill (SDRL) derivative holdings for Harry Quarls?

The derivative summary in the Form 4 is empty after this transaction. That indicates no remaining restricted stock units or other derivative securities are shown for Harry Quarls in this particular filing following the 4,860-unit conversion.