[Form 4] Seadrill Ltd Insider Trading Activity

Rhea-AI Filing Summary

Grant R. Creed, Executive Vice President & Chief Financial Officer of Seadrill Ltd (SDRL), reported transactions dated 09/25/2025. On that date 7,705 restricted stock units vested and were converted one-for-one into common shares. The report also discloses a sale of 3,150 common shares at $31.39 per share. After these transactions the reporting person beneficially owned 35,972 common shares. The restricted stock units were originally granted on 09/25/2023 in a grant of 15,410 RSUs vesting in two equal annual installments beginning on the first anniversary of the grant.

Positive

• Scheduled vesting of 7,705 RSUs converted to common shares, reflecting standard compensation delivery
• Insider retains ownership of 35,972 common shares after the transactions, maintaining alignment with shareholders
• Disclosure appears timely and complete under Section 16 reporting requirements

Negative

• Partial sale of 3,150 shares at $31.39 reduced insider holdings
• Insufficient context in the filing to assess whether the sale was pre-planned (e.g., Rule 10b5-1) or for liquidity needs

Insights

Financial Analyst

TL;DR: Routine insider vesting and partial sale; modest ownership remains, unlikely to materially affect company valuation.

The filing shows a scheduled vesting of 7,705 restricted stock units converting to common shares and a contemporaneous disposition of 3,150 shares at $31.39. This pattern is consistent with standard executive compensation vesting and partial share liquidity. The remaining beneficial ownership of 35,972 shares retains insider alignment with shareholder interests but is not a material equity stake relative to large-cap issuer norms.

Corporate Governance Expert

TL;DR: Disclosure aligns with Section 16 timing and standard vesting schedule; no governance red flags apparent.

The Form 4 documents timely reporting of RSU vesting and a sale transaction under codes consistent with conversion (M) and a sale (F). The original grant terms—15,410 RSUs vesting in two equal annual installments—are disclosed, indicating routine compensation structure. There is no indication of unusual trading windows or related-party transactions in the filing text provided.

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^*

Creed Grant R

(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)
	Executive Vice President & CFO

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		7,705	A	(1)	39,122	D
Common Shares	09/25/2025		F		3,150	D	$31.39	35,972	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			7,705	(2)	(2)	Common Shares	7,705	$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 15,410 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).
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.

FAQ

What transactions did Seadrill (SDRL) insider Grant R. Creed report on 09/25/2025?

The Form 4 reports 7,705 restricted stock units vested and converted to common shares and a sale of 3,150 common shares at $31.39 per share on 09/25/2025.

How many shares does Grant R. Creed beneficially own after the reported transactions?

Following the transactions the reporting person beneficially owns 35,972 common shares.

When were the restricted stock units originally granted and what were the terms?

The RSUs were granted on 09/25/2023 totaling 15,410 units, vesting in two equal annual installments beginning on the first anniversary of the grant.

What do transaction codes M and F indicate on the Form 4?

In this filing code M denotes conversion of restricted stock units into common shares and code F denotes a sale or disposition of common shares at a stated price.

Was the sale price disclosed for the disposed shares?

Yes, the Form 4 shows the sold shares (3,150) were disposed of at $31.39 per share.