Seadrill director acquires 4,860 shares via RSU vesting

Seadrill Ltd director Jonathan Swinney exercised restricted stock units that vested into common shares.

Rhea-AI Filing Summary

Seadrill Ltd director Jonathan Swinney exercised restricted stock units that vested into common shares. On May 14, 2026, 4,860 restricted stock units granted on May 14, 2025 converted into 4,860 common shares on a one-for-one basis at an exercise price of $0.00 per share.

Following this derivative exercise, Swinney directly owned 7,269 common shares. The filing indicates this was a compensation-related RSU vesting and conversion, not an open-market purchase or sale, with no shares reported as sold or withheld for taxes in this transaction.

Insider Trade Summary

4,860 shares exercised/converted

Exercise 2 txns

Insider Swinney Jonathan

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	4,860	$0.00	$0.00
Exercise	Common Shares	4,860	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 0 contracts (Direct); Common Shares — 7,269 shares (Direct)

Footnotes (3)

1. F1. The reporting person elected to defer the receipt of the common shares, par value $0.01 per share ("Common Shares"), of Seadrill Limited (the "Company") underlying the restricted stock units granted on May 14, 2025 until the earlier of (i) a separation from service from the Company and (ii) a change in control of the Company.
2. F2. Restricted stock units convert into Common Shares on a one-for-one basis.
3. F3. On May 14, 2025, the reporting person was granted 4,860 restricted stock units, all of which vested on the first anniversary of the grant date.

Key Figures

RSUs exercised: 4,860 units Shares received: 4,860 shares Holdings after transaction: 7,269 shares +2 more

5 metrics

RSUs exercised 4,860 units Restricted stock units converting into common shares on May 14, 2026

Shares received 4,860 shares Common shares issued from RSU conversion at $0.00 per share

Holdings after transaction 7,269 shares Total direct Seadrill common shares held by Swinney after the exercise

Grant date May 14, 2025 Date 4,860 restricted stock units were originally granted

Vesting period 1 year RSUs vested on the first anniversary of the May 14, 2025 grant

Key Terms

Restricted stock units, Common Shares, derivative exercise/conversion, change in control, +1 more

5 terms

Restricted stock units financial

"On May 14, 2025, the reporting person was granted 4,860 restricted stock units, all of which vested..."

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.

Common Shares financial

"Restricted stock units convert into Common Shares on a one-for-one basis."

Common shares are the basic units of ownership in a company that give holders a claim on profits and a right to vote on key matters, like electing the board. Think of them as membership cards in a club: they let you share in successes and losses, but in a bankruptcy or liquidation they are paid after creditors and preferred shareholders, so their value can swing more and matters for assessing risk and potential return.

derivative exercise/conversion financial

"transaction_action: derivative exercise/conversion, transaction_code_description: Exercise or conversion of derivative security"

change in control financial

"until the earlier of (i) a separation from service from the Company and (ii) a change in control of the Company."

A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.

separation from service financial

"until the earlier of (i) a separation from service from the Company and (ii) a change in control of the Company."

FAQ

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

What insider transaction did Seadrill (SDRL) director Jonathan Swinney report?

Jonathan Swinney reported the vesting and exercise of 4,860 restricted stock units into common shares. These RSUs were granted on May 14, 2025 and converted into shares on May 14, 2026 as part of his equity compensation.

How many Seadrill (SDRL) shares does Jonathan Swinney hold after this Form 4?

After the transaction, Jonathan Swinney directly held 7,269 Seadrill common shares. This total reflects the addition of 4,860 shares received from the RSU conversion, with no sales reported in this filing and no remaining RSUs from that grant.

Was Jonathan Swinney’s Seadrill (SDRL) Form 4 an open-market buy or sell?

The Form 4 does not show any open-market buy or sell. It records a derivative exercise where 4,860 restricted stock units converted into common shares at $0.00 per share, representing routine equity compensation vesting rather than a discretionary market trade.

What are the terms of Jonathan Swinney’s Seadrill (SDRL) restricted stock units?

The restricted stock units were granted on May 14, 2025 and all vested on the first anniversary of the grant date. Each RSU converts into one common share, and Swinney elected to defer receipt of these shares until separation from service or a change in control.

Did Jonathan Swinney retain derivative positions in Seadrill (SDRL) after this transaction?

For this specific grant, the derivative position went to zero after 4,860 RSUs converted into common shares. The derivative summary in the data is empty, indicating no remaining RSUs from this grant are reported in this Form 4.

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

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Accepted by SEC EDGAR 05/18/2026 - 11:16 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^*

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)
05/14/2026

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	05/14/2026		M		4,860(1)	A	(2)	7,269	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	(2)	05/14/2026		M			4,860	(3)	(3)	Common Shares	4,860(1)	$0	0	D

Explanation of Responses:

1. The reporting person elected to defer the receipt of the common shares, par value $0.01 per share ("Common Shares"), of Seadrill Limited (the "Company") underlying the restricted stock units granted on May 14, 2025 until the earlier of (i) a separation from service from the Company and (ii) a change in control of the Company.

2. Restricted stock units convert into Common Shares on a one-for-one basis.

3. On May 14, 2025, the reporting person was granted 4,860 restricted stock units, all of which vested on the first anniversary of the grant date.

	/s/ Todd D. Strickler, attorney-in-fact	05/18/2026
	** 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)