Seadrill (SDRL) director receives 2,618 restricted stock units as equity award

Rhea-AI Filing Summary

SCHULTZ ANDREW ELIOT reported acquisition or exercise transactions in this Form 4 filing.

Seadrill Ltd reported that director Andrew Eliot Schultz received a grant of 2,618 restricted stock units on June 3, 2026. Each unit represents a contingent right to receive one common share of Seadrill.

The restricted stock units vest on the date of the company’s 2027 Annual General Meeting of Shareholders if that meeting occurs at least 50 weeks after the grant date. Otherwise, they vest 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.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider SCHULTZ ANDREW ELIOT

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

RSUs granted: 2,618 units Price per RSU: $0.0000 per unit Underlying shares: 2,618 common shares +3 more

6 metrics

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

Price per RSU $0.0000 per unit Compensation grant with no cash exercise price

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

Holdings after grant 2,618 RSUs Total restricted stock units following this transaction

Grant date June 3, 2026 Date RSUs were granted to director

Vesting reference 2027 Annual General Meeting Primary vesting trigger if at least 50 weeks from 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 financial

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

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 financial

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

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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^*

SCHULTZ ANDREW ELIOT

(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 Andrew Eliot Schultz report in this Form 4?

Andrew Eliot Schultz reported receiving 2,618 restricted stock units of Seadrill Ltd. These units were granted as compensation and each represents a contingent right to receive one Seadrill common share, subject to vesting conditions and settlement decisions.

When do Andrew Eliot Schultz’s 2,618 Seadrill (SDRL) RSUs vest?

The 2,618 restricted stock units vest on the 2027 Annual General Meeting date if that meeting occurs at least 50 weeks after grant, or otherwise on the first anniversary of the June 3, 2026 grant date.

How will the 2,618 Seadrill (SDRL) restricted stock units be settled?

Upon vesting, the 2,618 restricted stock units will be settled in either cash or common shares. The choice of settlement method is made by Seadrill’s Joint Nomination and Remuneration Committee of the Board of Directors.

Does the Form 4 show a market purchase or sale of Seadrill (SDRL) shares?

No, the Form 4 shows a grant of restricted stock units, not a market trade. The transaction code "A" indicates a grant or award acquisition, with no cash price per share listed for this compensation award.

How many Seadrill (SDRL) shares could Andrew Eliot Schultz receive from this RSU grant?

The grant covers 2,618 restricted stock units, each linked to one underlying Seadrill common share. If fully vested and settled in shares, the award corresponds to 2,618 common shares, subject to the committee’s settlement decision.