Seadrill (SDRL) SVP & General Counsel awarded 10,943 restricted stock units

Rhea-AI Filing Summary

Strickler Todd D reported acquisition or exercise transactions in this Form 4 filing.

Seadrill Ltd reported that its SVP & General Counsel, Todd D. Strickler, received a grant of 10,943 restricted stock units on March 16, 2026. Each unit represents a contingent right to receive one common share of the company.

The restricted stock units vest in three equal annual installments beginning on March 16, 2027. They will be settled in either cash or common shares at the election of the Joint Nomination and Remuneration Committee of the Board. Following this award, Strickler holds 10,943 restricted stock units directly.

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
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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).

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)
03/16/2026

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)	03/16/2026		A		10,943		(2)	(2)	Common Shares	10,943	$0	10,943	D

Explanation of Responses:

1. Represents restricted stock units granted to the reporting person on March 16, 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 in three equal annual installments beginning on March 16, 2027 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.

Remarks:

Senior Vice President & General Counsel

	/s/ Todd D. Strickler	03/18/2026
	** 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)

FAQ

What insider transaction did Seadrill (SDRL) report for Todd D. Strickler?

Todd D. Strickler, Seadrill’s SVP & General Counsel, received a grant of 10,943 restricted stock units. These units are part of his compensation and give him a contingent right to receive common shares, aligning his interests with the company’s long-term performance.

How many restricted stock units were granted to the Seadrill (SDRL) executive?

The executive received 10,943 restricted stock units. Each unit can convert into one common share, subject to vesting conditions. This grant represents a non-cash equity-based award intended to incentivize and retain senior leadership at Seadrill over multiple years.

When do Todd D. Strickler’s Seadrill (SDRL) restricted stock units vest?

The restricted stock units vest in three equal annual installments starting March 16, 2027. This means the award is spread over three years, encouraging long-term commitment and performance, with a portion becoming available to settle each year as the vesting schedule progresses.

How will the Seadrill (SDRL) restricted stock units granted to Todd D. Strickler be settled?

The restricted stock units will be settled in either cash or common shares. The choice between cash and shares is made by the Joint Nomination and Remuneration Committee of Seadrill’s Board, providing flexibility in how the compensation is ultimately delivered.

What is Todd D. Strickler’s position and role at Seadrill (SDRL)?

Todd D. Strickler serves as Senior Vice President and General Counsel at Seadrill. His role includes overseeing the company’s legal affairs, and the reported restricted stock unit grant forms part of his overall compensation package designed to support long-term alignment with shareholders.

What is Todd D. Strickler’s Seadrill (SDRL) equity position after this Form 4 filing?

After the reported transaction, Todd D. Strickler holds 10,943 restricted stock units directly. These units represent a contingent right to receive common shares, subject to the vesting schedule and settlement decisions made by Seadrill’s Board committee.