Seadrill director granted 2,618 restricted stock units

CAHUZAC JEAN reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

CAHUZAC JEAN reported acquisition or exercise transactions in this Form 4 filing.

SEADRILL Ltd director Jean Cahuzac received a grant of 2,618 restricted stock units (RSUs). Each RSU represents a contingent right to receive one common share of Seadrill Limited, giving him 2,618 RSUs and 2,618 underlying common shares reported following this grant.

The RSUs vest on the date of the company’s 2027 Annual General Meeting of Shareholders if that meeting occurs at least 50 weeks after the grant. If the meeting occurs earlier or less than 50 weeks from the grant, the RSUs vest on the first anniversary of the grant date. Upon vesting, they will be settled in either cash or common shares at the election of the Board’s Joint Nomination and Remuneration Committee.

Insider Trade Summary

Grant/Award: 2,618 shares

Grant/Award 1 txn

Insider CAHUZAC JEAN

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	2,618	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 2,618 contracts (Direct)

Footnotes (2)

1. F1. Represents restricted stock units granted to the reporting person on June 3, 2026. Each restricted stock unit represents a contingent right to receive one common share, par value $0.01 per share (a "Common Share"), of Seadrill Limited (the "Company").
2. F2. The restricted stock units vest either (i) on the date of the 2027 Annual General Meeting of Shareholders of the Company (the "2027 Meeting"), if the 2027 Meeting occurs at least 50 weeks from the grant date or (ii) if earlier or the 2027 Meeting occurs less than 50 weeks from the grant date, on the first anniversary of the grant date, and will be settled in cash or Common Shares at the election of the Joint Nomination and Remuneration Committee of the Board of Directors of the Company.

Key Figures

RSUs granted: 2,618 units Underlying common shares: 2,618 shares Holdings after grant: 2,618 RSUs +1 more

4 metrics

RSUs granted 2,618 units Restricted stock units granted on June 3, 2026

Underlying common shares 2,618 shares Each RSU represents one common share

Holdings after grant 2,618 RSUs Total restricted stock units following transaction

Par value per common share $0.01 per share Par value of Seadrill common shares underlying RSUs

Key Terms

Restricted Stock Units, contingent right, Annual General Meeting of Shareholders, settled in cash or Common Shares, +1 more

5 terms

Restricted Stock Units financial

"Represents restricted stock units granted to the reporting person on June 3, 2026."

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.

contingent right financial

"Each restricted stock unit represents a contingent right to receive one common share..."

Annual General Meeting of Shareholders regulatory

"The restricted stock units vest either (i) on the date of the 2027 Annual General Meeting of Shareholders..."

settled in cash or Common Shares financial

"...and will be settled in cash or Common Shares at the election of the Joint Nomination and Remuneration Committee..."

Joint Nomination and Remuneration Committee regulatory

"...at the election of the Joint Nomination and Remuneration Committee of the Board of Directors of the Company."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Seadrill (SDRL) director Jean Cahuzac report in this Form 4?

Jean Cahuzac reported receiving 2,618 restricted stock units in Seadrill. These RSUs are a form of equity-based compensation that may convert into common shares or cash upon vesting, aligning director interests with long-term shareholder value.

How many Seadrill (SDRL) restricted stock units were granted to Jean Cahuzac?

Jean Cahuzac was granted 2,618 restricted stock units of Seadrill. Each RSU represents a contingent right to receive one common share, giving him exposure to 2,618 underlying common shares once the vesting conditions are satisfied.

When do Jean Cahuzac’s Seadrill (SDRL) RSUs vest?

The RSUs vest on the date of Seadrill’s 2027 Annual General Meeting if it occurs at least 50 weeks after grant. Otherwise, they vest on the first anniversary of the June 3, 2026 grant date, subject to the stated conditions being met.

How will Jean Cahuzac’s Seadrill (SDRL) RSUs be settled at vesting?

Upon vesting, the restricted stock units will be settled in either cash or Seadrill common shares. The choice between cash and shares is made by the Joint Nomination and Remuneration Committee of Seadrill’s Board, not by the reporting person.

Does this Seadrill (SDRL) Form 4 show any stock sales by Jean Cahuzac?

This Form 4 shows only an acquisition of 2,618 restricted stock units as a grant. There are no reported open-market purchases or sales, tax withholdings, or option exercises in the disclosed transaction data for this filing.

What does each Seadrill (SDRL) restricted stock unit represent for Jean Cahuzac?

Each restricted stock unit represents a contingent right to receive one Seadrill common share with par value $0.01. The units convert into cash or shares only after vesting, according to the terms set by Seadrill’s Board committee.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/05/2026 - 11:52 AM EDT Learn about SEC filing dates

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^*

CAHUZAC JEAN

(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)
06/03/2026

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)
			Code	V	Amount	(A) or (D)	Price

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)	06/03/2026		A		2,618		(2)	(2)	Common Shares	2,618	$0	2,618	D

Explanation of Responses:

1. Represents restricted stock units granted to the reporting person on June 3, 2026. Each restricted stock unit represents a contingent right to receive one common share, par value $0.01 per share (a "Common Share"), of Seadrill Limited (the "Company").

2. The restricted stock units vest either (i) on the date of the 2027 Annual General Meeting of Shareholders of the Company (the "2027 Meeting"), if the 2027 Meeting occurs at least 50 weeks from the grant date or (ii) if earlier or the 2027 Meeting occurs less than 50 weeks from the grant date, on the first anniversary of the grant date, and will be settled in cash or Common Shares at the election of the Joint Nomination and Remuneration Committee of the Board of Directors of the Company.

	/s/ Todd D. Strickler, attorney-in-fact	06/05/2026
	** 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)