[Form 4] Seadrill Ltd Insider Trading Activity

Rhea-AI Filing Summary

Seadrill Ltd (SDRL) Form 4 summary: Simon Johnson, listed as President & CEO, reported transactions dated 09/25/2025. He received 27,759 restricted stock units that convert one-for-one into common shares and that were part of a 55,518 RSU grant from 09/25/2023 vesting in two equal annual installments. He also disposed of 11,260 common shares on the same date at a reported price of $31.39 per share. Following these transactions he beneficially owns 105,518 common shares, held directly. The Form 4 is signed by an attorney-in-fact on 09/29/2025.

Insights

Financial Analyst

TL;DR: Insider received RSUs and sold a portion of shares; net direct holdings remain material but the activity appears routine for compensation vesting.

The filing shows a 27,759 RSU vesting event (one-for-one conversion) coinciding with a sale of 11,260 shares at $31.39. This pattern is consistent with executive compensation vesting plus a partial disposition. The remaining direct beneficial ownership is 105,518 shares. No options or convertible debt transactions are reported. From a financial-monitoring perspective, these transactions update the insider ownership schedule without revealing new operational or balance-sheet information.

Corporate Governance Expert

TL;DR: Filing documents standard vesting and a share sale by the CEO; disclosure is timely and provides clear vesting history.

The report discloses the original RSU grant date (09/25/2023) and vesting structure (two equal annual installments), clarifying the nature of the acquired shares. The sale of 11,260 shares at $31.39 is recorded separately from the RSU conversion. The form is signed by an attorney-in-fact, indicating proper procedural execution. No governance concerns or irregular transactions are evident from the disclosed items alone.

Insider Trade Summary

27,759 shares exercised/converted

Mixed 3 txns

Insider Johnson Simon

Role President & CEO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	27,759	$0.00	--
Exercise	Common Shares	27,759	$0.00	--
Tax Withholding	Common Shares	11,260	$31.39	$353K

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Common Shares — 116,778 shares (Direct)

Footnotes (1)

1. Restricted stock units convert into common shares, par value $0.01 per share, of Seadrill Limited on a one-for-one basis. On September 25, 2023, the reporting person was granted 55,518 restricted stock units, vesting in two equal annual installments beginning on the first anniversary of the grant date.

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

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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^*

Johnson Simon

(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)
	President & CEO

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		27,759	A	(1)	116,778	D
Common Shares	09/25/2025		F		11,260	D	$31.39	105,518	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			27,759	(2)	(2)	Common Shares	27,759	$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 55,518 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).
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