Seadrill (SDRL) director Jonathan Swinney awarded 2,618 restricted stock units

Rhea-AI Filing Summary

Swinney Jonathan reported acquisition or exercise transactions in this Form 4 filing.

SEADRILL Ltd director Jonathan Swinney received a grant of 2,618 restricted stock units (RSUs) on June 3, 2026. Each RSU represents a contingent right to receive one common share of Seadrill Limited with a par value of $0.01 per share.

The RSUs will vest either on the date of the 2027 Annual General Meeting of Shareholders, if that meeting occurs at least 50 weeks after the grant, or otherwise on the first anniversary of the grant date. Upon vesting, they will be settled in cash or common shares at the election of the board’s Joint Nomination and Remuneration Committee. After this grant, Swinney holds 2,618 RSUs directly.

Insights

Equity compensation analyst

Routine RSU grant to Seadrill director with flexible settlement.

The filing shows director Jonathan Swinney receiving 2,618 restricted stock units as equity-based compensation. RSUs are a common tool to align director incentives with shareholder interests, without requiring any cash outlay by the director at grant.

The award vests at the 2027 Annual General Meeting of Shareholders if that meeting occurs at least 50 weeks after grant, or otherwise on the first anniversary of the grant date. Settlement in either cash or common shares is at the discretion of the Joint Nomination and Remuneration Committee, so the eventual form of value depends on a later board decision.

This is a single, derivative-type acquisition with no associated sales, gifts, or tax-withholding events reported. It appears as a routine governance and compensation measure rather than a directional signal on Seadrill’s share price.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Swinney Jonathan

Role null

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

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

Footnotes (1)

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"). 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

RSU grant size: 2,618 RSUs Underlying shares: 2,618 common shares Par value per share: $0.01 per share +2 more

5 metrics

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

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

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

Vesting trigger 2027 AGM or 1-year anniversary Vests at 2027 Annual General Meeting or first grant anniversary

Post-grant RSU holdings 2,618 RSUs Total restricted stock units held after reported grant

Key Terms

Restricted Stock Units, contingent right, Annual General Meeting of Shareholders, par value, +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 of the Company."

par value financial

"one common share, par value $0.01 per share (a "Common Share"), of Seadrill Limited."

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

Joint Nomination and Remuneration Committee regulatory

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

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Form 4 Insider Transactions: What Each Field Means →

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^*

Swinney Jonathan

(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)

FAQ

What did Seadrill (SDRL) director Jonathan Swinney report in this Form 4?

Jonathan Swinney reported receiving 2,618 restricted stock units from Seadrill as an equity award. Each unit is a contingent right to one common share, aligning his compensation with shareholder value without any cash payment at the time of grant.

How many restricted stock units did Jonathan Swinney receive from Seadrill (SDRL)?

He received 2,618 restricted stock units. Each unit represents a contingent right to receive one Seadrill common share with a par value of $0.01, giving him potential future equity exposure once the vesting conditions are satisfied and the award is settled.

When do Jonathan Swinney’s Seadrill (SDRL) restricted stock units vest?

The restricted stock units vest on the date of Seadrill’s 2027 Annual General Meeting of Shareholders if that meeting occurs at least 50 weeks after grant. Otherwise, they vest on the first anniversary of the June 3, 2026 grant date, subject to those timing conditions.

How will Jonathan Swinney’s Seadrill (SDRL) RSUs be settled once vested?

Once vested, the RSUs will be settled either in cash or in Seadrill common shares. The choice between cash and stock is made by the Joint Nomination and Remuneration Committee of Seadrill’s board, not by Swinney himself, at the time of settlement.

Is Jonathan Swinney’s Form 4 for Seadrill (SDRL) a stock purchase or sale?

It is not an open-market purchase or sale. The Form 4 reports a grant of 2,618 restricted stock units as compensation. This derivative acquisition does not involve Swinney buying or selling shares in the market, and no sale transactions are disclosed here.

How many Seadrill (SDRL) restricted stock units does Jonathan Swinney hold after this grant?

After this grant, he holds 2,618 restricted stock units directly. These RSUs represent a potential future claim on an equal number of Seadrill common shares, subject to vesting and the board committee’s decision on whether settlement is in cash or stock.