Seadrill director granted 2,618 restricted stock units

Smith Paul Norman reported acquisition or exercise transactions in this Form 4 filing.

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Form Type

Rhea-AI Filing Summary

Smith Paul Norman reported acquisition or exercise transactions in this Form 4 filing.

Seadrill Ltd director Paul Norman Smith received a grant of 2,618 restricted stock units on June 3, 2026. Each unit gives a contingent right to one common share with par value of $0.01.

The units vest at the 2027 Annual General Meeting if it occurs at least 50 weeks after grant, or otherwise on the first anniversary of the grant. They will be settled in 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 Smith Paul Norman

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)

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").
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 Par value: $0.01 per share +1 more

4 metrics

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

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

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

Total RSUs after grant 2,618 units Holdings following reported transaction

Key Terms

Restricted Stock Units, Annual General Meeting of Shareholders, contingent right, Joint Nomination and Remuneration Committee

4 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.

Annual General Meeting of Shareholders financial

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

contingent right financial

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

Joint Nomination and Remuneration Committee financial

"settled in cash or Common Shares at the election of the Joint Nomination and Remuneration Committee of the Board of Directors"

FAQ

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

What did Seadrill (SDRL) director Paul Norman Smith report in this Form 4?

He reported receiving 2,618 restricted stock units as compensation. Each unit represents a contingent right to receive one Seadrill common share, subject to vesting conditions and settlement decisions by the board committee.

How many Seadrill (SDRL) restricted stock units were granted to the director?

The director received 2,618 restricted stock units. These units correspond to up to 2,618 common shares, depending on vesting and settlement, and represent a non-cash equity-based compensation award rather than an open-market share purchase or sale.

When do the Seadrill (SDRL) restricted stock units granted on June 3, 2026 vest?

They vest on the date of the 2027 Annual General Meeting if that meeting occurs at least 50 weeks from grant. Otherwise, they vest on the first anniversary of the June 3, 2026 grant date, subject to the award’s terms.

How will the Seadrill (SDRL) restricted stock units be settled at vesting?

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

Does this Seadrill (SDRL) Form 4 reflect a market purchase or sale of shares?

No, it reflects a grant of restricted stock units as compensation. The transaction code “A” indicates an award or other acquisition, so it is not an open-market buy or sell of Seadrill common shares.

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Accepted by SEC EDGAR 06/05/2026 - 11:45 AM EDT

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^*

Smith Paul Norman

(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)
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)

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⁾	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)

Source: View Original Filing on SEC EDGAR