Seadrill (SDRL) officer receives 12,370 restricted stock units award

Rhea-AI Filing Summary

Sauer-Petersen Torsten reported acquisition or exercise transactions in this Form 4 filing.

Seadrill Ltd reported that officer Torsten Sauer-Petersen received a grant of 12,370 restricted stock units on March 16, 2026. Each restricted stock unit represents a contingent right to receive one common share of Seadrill Limited.

The restricted stock units vest in three equal annual installments beginning on March 16, 2027. They will be settled in either cash or common shares at the election of the Joint Nomination and Remuneration Committee of Seadrill’s Board of Directors. Following this grant, Sauer-Petersen holds 12,370 restricted stock units directly.

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

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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^*

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)
03/16/2026

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)	03/16/2026		A		12,370		(2)	(2)	Common Shares	12,370	$0	12,370	D

Explanation of Responses:

1. Represents restricted stock units granted to the reporting person on March 16, 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 in three equal annual installments beginning on March 16, 2027 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.

Remarks:

Executive Vice President, Chief Technology and Sustainability Officer

	/s/ Todd D. Strickler, attorney-in-fact	03/18/2026
	** 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)

FAQ

What insider transaction did Seadrill (SDRL) report in this Form 4?

Seadrill reported a grant of 12,370 restricted stock units to officer Torsten Sauer-Petersen. The grant was made on March 16, 2026, and each unit represents a contingent right to receive one Seadrill common share, subject to vesting conditions.

How many restricted stock units were granted to Torsten Sauer-Petersen at Seadrill (SDRL)?

Torsten Sauer-Petersen was granted 12,370 restricted stock units. After this award, his total reported holdings of these units are 12,370, all held directly. Each unit corresponds to a potential future Seadrill common share, depending on vesting and settlement decisions.

What is the vesting schedule for the Seadrill (SDRL) restricted stock units granted on March 16, 2026?

The restricted stock units vest in three equal annual installments starting March 16, 2027. This means one-third of the 12,370 units vests each year over three years, subject to the applicable conditions and continued service requirements established by Seadrill.

How will the Seadrill (SDRL) restricted stock units granted to Sauer-Petersen be settled?

The restricted stock units will be settled in either cash or Seadrill common shares. The choice between cash and shares will be made by the Joint Nomination and Remuneration Committee of Seadrill’s Board of Directors at the time of settlement.

Does the Seadrill (SDRL) Form 4 transaction involve an open-market buy or sell?

No, the transaction reflects a grant or award acquisition of restricted stock units, coded as “A.” It is a compensation-related award rather than an open-market purchase or sale, and carries a transaction price per unit of $0.00 according to the filing.