[Form 4] Seadrill Ltd Insider Trading Activity

Rhea-AI Filing Summary

Ali Samir H, EVP & Chief Commercial Officer of Seadrill Ltd (SDRL), reported Section 16 transactions dated 09/25/2025. A grant of 6,124 restricted stock units converted into 6,124 common shares (one-for-one conversion). On the same date the reporting person disposed of 2,410 common shares at a reported price of $31.39, leaving 28,878 shares beneficially owned after the sale. The Form 4 notes the underlying award originated from a 09/25/2023 grant of 12,248 RSUs that vest in two equal annual installments.

Positive

• Vesting of RSUs: 6,124 restricted stock units converted into 6,124 common shares, reflecting scheduled compensation vesting.
• Disclosure completeness: Form 4 includes original grant details (09/25/2023 grant of 12,248 RSUs) and required signature by attorney-in-fact, supporting transparency.

Negative

• Partial sale of shares: 2,410 common shares were disposed at $31.39, reducing beneficial ownership from 31,288 to 28,878 shares.
• Limited context: Filing does not disclose rationale for the sale (tax withholding, diversification, or other), so investor intent is unclear.

Insights

Financial Analyst

TL;DR: Routine insider vesting and a small sale; transaction size is modest relative to company equity and appears non-material.

The filing shows the conversion of vested restricted stock units into 6,124 common shares and a contemporaneous sale of 2,410 shares at $31.39. The RSUs originated from a 12,248-unit grant dated 09/25/2023 that vests in two equal annual installments, indicating this is the scheduled vesting event rather than a one-off compensation change. The net increase in direct holdings is limited, and the sale amount reported is modest; there is no disclosure of unusual acceleration, amendment, or discretionary awards in this Form 4.

Corporate Governance Expert

TL;DR: Transaction consistent with standard executive compensation vesting and a partial sale; no governance red flags in this filing.

The reporting person is an officer (EVP & Chief Commercial Officer) and the Form 4 documents scheduled vesting from a 2023 RSU grant and a partial disposition of shares. The filing is signed by an attorney-in-fact and includes the required Section 16 disclosures. There is no indication of related-party transactions, accelerated vesting terms, or late reporting beyond the signature date of 09/29/2025, so governance implications are routine based on the information provided.

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
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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).

1. Name and Address of Reporting Person^*

Ali Samir H

(Last) (First) (Middle)

11025 EQUITY DRIVE, SUITE 150

(Street)

HOUSTON TX 77041

(City) (State) (Zip)

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)
	EVP & Chief Commercial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2025

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

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

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

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
Common Shares	09/25/2025		M		6,124	A	(1)	31,288	D
Common Shares	09/25/2025		F		2,410	D	$31.39	28,878	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	09/25/2025		M			6,124	(2)	(2)	Common Shares	6,124	$0	0	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 September 25, 2023, the reporting person was granted 12,248 restricted stock units, vesting in two equal annual installments beginning on the first anniversary of the grant date.

	/s/ Todd D. Strickler, attorney-in-fact	09/29/2025
	** 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.

FAQ

What transactions did Ali Samir H report on the Form 4 for SDRL?

The Form 4 reports conversion of 6,124 restricted stock units into common shares and a disposition of 2,410 common shares at $31.39 on 09/25/2025.

How many RSUs were originally granted to the reporting person and when do they vest?

The filing states a grant of 12,248 restricted stock units on 09/25/2023, vesting in two equal annual installments beginning on the first anniversary of the grant date.

What is the reporting person's role at Seadrill Ltd (SDRL)?

The reporting person is listed as an officer: EVP & Chief Commercial Officer of Seadrill Ltd.

How many shares did the reporting person beneficially own after the reported transactions?

After the reported transactions, the Form 4 shows the reporting person beneficially owned 28,878 common shares.

When was the Form 4 signed and by whom?

The Form 4 bears a signature by /s/ Todd D. Strickler, attorney-in-fact dated 09/29/2025.