Seadrill director exercises 4,860 RSUs, holds 7,269

Seadrill Ltd director Jan Kjaervik exercised 4,860 restricted stock units into Common Shares.

Rhea-AI Filing Summary

Seadrill Ltd director Jan Kjaervik exercised 4,860 restricted stock units into Common Shares. Following this derivative exercise, his direct holdings increased to 7,269 Common Shares.

According to the footnotes, these RSUs were granted on May 14, 2025, vested after one year, and convert into Common Shares on a one-for-one basis. Kjaervik elected to defer receipt of the underlying Common Shares until the earlier of a separation from service or a change in control of Seadrill.

Insider Trade Summary

4,860 shares exercised/converted

Exercise 2 txns

Insider Kjaervik Jan

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 after transaction: 7,269 shares RSU grant size: 4,860 units +2 more

5 metrics

RSUs exercised 4,860 units Restricted stock units converted into Common Shares

Shares after transaction 7,269 shares Common Shares directly held after RSU exercise

RSU grant size 4,860 units Granted on May 14, 2025

Conversion ratio 1:1 Each restricted stock unit converts into one Common Share

Exercise price $0.00 per unit Reported transaction price per restricted stock unit

Key Terms

Restricted stock units, change in control, separation from service, Exercise or conversion of derivative security

4 terms

Restricted stock units financial

"On May 14, 2025, the reporting person was granted 4,860 restricted stock units"

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.

change in control financial

"until the earlier of (i) a separation from service ... 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"

Exercise or conversion of derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

FAQ

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

What insider transaction did Seadrill (SDRL) director Jan Kjaervik report?

Director Jan Kjaervik reported exercising 4,860 restricted stock units into Common Shares of Seadrill. This derivative exercise increased his direct holdings to 7,269 Common Shares, with no accompanying open‑market sale reported in this Form 4 filing.

How many Seadrill (SDRL) restricted stock units did Jan Kjaervik exercise?

Jan Kjaervik exercised 4,860 restricted stock units into Common Shares of Seadrill. The Form 4 notes these RSUs were granted on May 14, 2025, and all vested on the first anniversary of the grant date before being converted one‑for‑one into shares.

What are Jan Kjaervik’s Seadrill (SDRL) share holdings after this Form 4 transaction?

After the reported transaction, Jan Kjaervik directly holds 7,269 Seadrill Common Shares. This reflects the addition of 4,860 shares from the RSU exercise, with the underlying restricted stock unit position reduced to zero in this Form 4 disclosure.

How do Seadrill (SDRL) restricted stock units convert into Common Shares for Jan Kjaervik?

The restricted stock units convert into Seadrill Common Shares on a one‑for‑one basis. In this filing, 4,860 RSUs were exchanged for 4,860 Common Shares, consistent with the footnote stating that each restricted stock unit corresponds to one Common Share upon conversion.

When were the Seadrill (SDRL) restricted stock units granted to Jan Kjaervik and when did they vest?

The filing states that 4,860 restricted stock units were granted to Jan Kjaervik on May 14, 2025. All of these units vested on the first anniversary of the grant date, meaning vesting occurred one year after the original May 14, 2025 grant.

Did Jan Kjaervik defer receipt of the Seadrill (SDRL) shares from his RSUs?

Yes. The footnotes explain that Kjaervik elected to defer receipt of the Common Shares underlying his restricted stock units. The shares will be delivered at the earlier of his separation from service with Seadrill or a change in control of the company.

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

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Accepted by SEC EDGAR 05/18/2026 - 11:10 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^*

Kjaervik Jan

(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)