Was the 3,130-share Seadrill (SDRL) disposition an open-market sale?

No, the 3,130-share disposition was classified as a tax-withholding transaction at $48.10 per share. It represents shares withheld to cover tax obligations on equity compensation, not a discretionary open-market sale of Seadrill stock by the executive.

Seadrill (SDRL) executive exercises RSUs and withholds 3,130 shares for tax

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Seadrill Ltd executive Torsten Sauer-Petersen exercised restricted stock units into 7,954 common shares and had shares withheld to cover taxes. On April 27, 3,130 common shares were disposed of at $48.10 per share as a tax-withholding disposition, not an open-market sale. Following these transactions, he directly owned 42,625 common shares and held 15,910 restricted stock units, which convert into common shares on a one-for-one basis.

Insider Trade Summary

7,954 shares exercised/converted

Mixed 3 txns

Insider Sauer-Petersen Torsten

Role See Remarks

Type	Security	Shares	Price	Value
Tax Withholding	Common Shares	3,130	$48.10	$151K
Exercise	Restricted Stock Units	7,954	$0.00	--
Exercise	Common Shares	7,954	$0.00	--

Holdings After Transaction: Common Shares — 42,625 shares (Direct, null); Restricted Stock Units — 15,910 shares (Direct, null)

Footnotes (1)

Restricted stock units convert into common shares, par value $0.01 per share, of Seadrill Limited on a one-for-one basis. On April 25, 2025, the reporting person was granted 23,864 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.

Key Figures

RSUs exercised: 7,954 shares Tax-withheld shares: 3,130 shares Tax-withholding price: $48.10 per share +3 more

6 metrics

RSUs exercised 7,954 shares Restricted stock units converted into Seadrill common shares

Tax-withheld shares 3,130 shares Shares disposed of for tax withholding at $48.10 per share

Tax-withholding price $48.10 per share Price used for 3,130-share tax-withholding disposition

Common shares owned 42,625 shares Direct Seadrill common share holdings after transactions

RSUs remaining 15,910 units Restricted stock units outstanding after 7,954 units converted

Original RSU grant 23,864 units Restricted stock units granted on April 25, 2025, vesting over three years

Key Terms

Restricted stock units, tax-withholding disposition, derivative exercise/conversion

3 terms

Restricted stock units financial

"Restricted stock units convert into common shares, par value $0.01 per share"

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.

tax-withholding disposition financial

"transaction_action: tax-withholding disposition related to equity compensation"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

derivative exercise/conversion financial

"transaction_action: derivative exercise/conversion of restricted stock units"

Form 4 Insider Transactions: What Each Field Means →

04/28/2026 - 11:25 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^*

Sauer-Petersen Torsten

(Last)

(First)

(Middle)

11025 EQUITY DRIVE, SUITE 150

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/25/2026

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	04/25/2026		M		7,954	A	⁽¹⁾	45,755	D
Common Shares	04/27/2026		F		3,130	D	$48.1	42,625	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	⁽¹⁾	04/25/2026		M			7,954	⁽²⁾	⁽²⁾	Common Shares	7,954	$0	15,910	D

Explanation of Responses:

1. Restricted stock units convert into common shares, par value $0.01 per share, of Seadrill Limited on a one-for-one basis.

2. On April 25, 2025, the reporting person was granted 23,864 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.

Remarks:

EVP, Chief Technology & Sustainability Officer

	/s/ Todd D. Strickler, attorney-in-fact	04/28/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Torsten Sauer-Petersen report at Seadrill (SDRL)?

Torsten Sauer-Petersen reported exercising restricted stock units into 7,954 Seadrill common shares and a related tax-withholding disposition of 3,130 shares. These moves reflect routine equity compensation activity rather than discretionary open-market buying or selling of SDRL stock.

How many Seadrill (SDRL) shares does Torsten Sauer-Petersen hold after this Form 4?

After the reported transactions, Torsten Sauer-Petersen directly holds 42,625 Seadrill common shares. He also holds 15,910 restricted stock units, which are equity awards that can convert into common shares on a one-for-one basis according to the Form 4 disclosure.

What do the restricted stock units in Seadrill (SDRL) convert into for Torsten Sauer-Petersen?

The restricted stock units convert into Seadrill common shares on a one-for-one basis. This means each of the 15,910 restricted stock units reported remaining can turn into one Seadrill common share when the vesting and settlement conditions are met.

When were Torsten Sauer-Petersen’s Seadrill (SDRL) restricted stock units originally granted?

The Form 4 notes that 23,864 restricted stock units were granted on April 25, 2025. These units vest in three equal annual installments beginning on the first anniversary of the grant date, forming part of his long-term equity compensation at Seadrill.