Seadrill SVP exercises RSUs, withholds shares for tax

Seadrill Ltd reported insider equity transactions by SVP & General Counsel Todd D. Strickler.

Rhea-AI Filing Summary

Seadrill Ltd reported insider equity transactions by SVP & General Counsel Todd D. Strickler. On April 25, 2026, he exercised 7,954 restricted stock units, which converted into the same number of Seadrill common shares on a one-for-one basis.

On April 27, 2026, 3,130 common shares were disposed of through a tax-withholding transaction at $48.10 per share to cover tax obligations. Following these routine compensation-related transactions, Strickler directly holds 31,409 Seadrill common shares.

Insider Trade Summary

7,954 shares exercised/converted

Exercise 3 txns

Insider Strickler Todd D

Role SVP & General Counsel

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Shares	3,130	$48.10	$151K
Exercise	Restricted Stock Units	7,954	$0.00	$0.00
Exercise	Common Shares	7,954	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 15,910 contracts (Direct); Common Shares — 31,409 shares (Direct)

Footnotes (2)

1. F1. Restricted stock units convert into common shares, par value $0.01 per share, of Seadrill Limited on a one-for-one basis.
2. F2. On April 25, 2025, the reporting person was granted 23,864 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.

Key Figures

RSUs converted: 7,954 units Shares disposed for tax: 3,130 shares Tax disposition price: $48.10 per share +2 more

5 metrics

RSUs converted 7,954 units Restricted stock units converting into common shares on April 25, 2026

Shares disposed for tax 3,130 shares Tax-withholding disposition of common shares on April 27, 2026

Tax disposition price $48.10 per share Price used in tax-withholding transaction for 3,130 shares

Shares held after transactions 31,409 shares Direct Seadrill common share ownership following reported Form 4 activity

Prior RSU grant 23,864 units RSUs granted April 25, 2025, vesting in three equal annual installments

Key Terms

Restricted stock units, tax-withholding disposition, derivative security, one-for-one basis

4 terms

Restricted stock units financial

"Restricted stock units convert into common shares, par value $0.01 per share"

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.

tax-withholding disposition financial

"transaction_action: tax-withholding disposition related to 3,130 common shares"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

one-for-one basis financial

"Restricted stock units convert into common shares on a one-for-one basis"

FAQ

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

What insider transactions did Seadrill (SDRL) disclose for Todd D. Strickler?

Seadrill disclosed that SVP & General Counsel Todd D. Strickler exercised 7,954 restricted stock units into common shares and later had 3,130 of those shares disposed of to satisfy tax obligations, leaving him with 31,409 common shares held directly.

How many Seadrill (SDRL) shares did Todd D. Strickler acquire through RSU conversion?

Todd D. Strickler acquired 7,954 Seadrill common shares when his restricted stock units converted on April 25, 2026. The RSUs convert into common shares on a one-for-one basis, so each unit became one common share in this transaction.

Why were 3,130 Seadrill (SDRL) shares disposed of in Todd D. Strickler’s Form 4?

The 3,130 Seadrill shares were disposed of in a tax-withholding transaction. This means shares were delivered to cover tax liabilities associated with equity compensation, rather than being sold in an open-market trade by the executive.

What is Todd D. Strickler’s Seadrill (SDRL) shareholding after these Form 4 transactions?

After the reported transactions, Todd D. Strickler directly holds 31,409 Seadrill common shares. This figure reflects the RSU conversion of 7,954 shares and the tax-withholding disposition of 3,130 shares reported in the Form 4 filing.

How do Seadrill (SDRL) restricted stock units convert into common shares?

Seadrill’s restricted stock units convert into common shares on a one-for-one basis. The filing notes that each restricted stock unit becomes one common share with a par value of $0.01, providing direct equity to the recipient when units vest or are exercised.

What prior Seadrill (SDRL) RSU grant is referenced in Todd D. Strickler’s filing?

The filing references an earlier grant of 23,864 restricted stock units to Todd D. Strickler on April 25, 2025. These RSUs vest in three equal annual installments starting on the first anniversary of the grant date, forming part of his long-term compensation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/28/2026 - 11:41 AM EDT Learn about SEC filing dates

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^*

Strickler Todd D

(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)
	SVP & General Counsel

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/25/2026

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
Common Shares	04/25/2026		M		7,954	A	(1)	34,539	D
Common Shares	04/27/2026		F		3,130	D	$48.1	31,409	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)	04/25/2026		M			7,954	(2)	(2)	Common Shares	7,954	$0	15,910	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 April 25, 2025, the reporting person was granted 23,864 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.

	/s/ Todd D. Strickler, attorney-in-fact	04/28/2026
	** 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)