Seadrill Ltd executive reports restricted stock activity and share settlement. An officer of Seadrill Ltd, serving as EVP & Chief Technology & Sustainability Officer, reported equity award vesting and related share transactions dated 12/31/2025, with the earliest related performance certification on 03/18/2025. The officer acquired 11,951 common shares through the settlement of previously granted restricted stock units, then had 3,560 shares disposed of at a price of $34.6 per share, reflecting shares withheld to cover obligations. Following these transactions, the officer directly beneficially owned 35,428 common shares.
The filing also details performance-based restricted stock units granted on 09/25/2023 (28,578 units) and 04/17/2024 (17,607 units), which convert into common shares on a one-for-one basis. Portions of these awards are tied to total shareholder return metrics, while 40% are linked to annual free cash flow performance. The committee certified achievement of the free cash flow performance metrics for the 2024 measurement period at 113.67%, supporting the vesting of certain units relating to the 2023 and 2024 measurement periods.
Seadrill Ltd executive David T. Mullen, EVP & Chief Commercial Officer, reported equity award activity and share movements. On 12/31/2025, performance-based restricted stock units converted into 11,951 common shares, increasing his direct holdings. That same day, 3,262 common shares were disposed of in a transaction coded "F", reflecting shares withheld or sold at $34.6 per share, typically used to cover tax obligations. After these transactions, he directly owned 37,567 common shares.
On 03/18/2025, the board committee certified free cash flow performance metrics for two performance-based RSU awards at 113.67% for the 2024 measurement period, leading to 4,331 RSUs credited under a 2023 award and 2,668 RSUs under a 2024 award. On 12/31/2025, tranches of 7,620 and 4,331 RSUs vested and were converted into common shares, leaving those specific RSU balances at zero.
Elliott Investment Management L.P. reports beneficial ownership of 4,213,146 Seadrill Ltd common shares, representing 6.8% of the outstanding shares. These shares were acquired at an aggregate cost of approximately $87,793,816, and may be held in margin accounts that can be used as collateral for debit balances.
In addition to the common shares, Elliott-related funds have entered into cash-settled swap agreements referencing 4,345,581 Seadrill shares, providing economic exposure comparable to 7.0% of the company without voting or dispositive power over those referenced shares. Based on 62,374,171 Seadrill common shares outstanding as of November 3, 2025, Elliott’s combined economic exposure is approximately 13.7% of the company’s common equity.
Seadrill Limited — Schedule 13G/A (Amendment No. 1): Wellington Management Group LLP and related entities reported beneficial ownership of 631,604 shares of Seadrill common stock. The filing lists shared voting power of 488,044 shares and shared dispositive power of 631,604 shares; sole voting and dispositive power are 0.
The reporting persons indicate ownership on behalf of advisory clients and certify the holdings were acquired and are held in the ordinary course of business, not to change or influence control. The filing states ownership of five percent or less of the class.
Seadrill Limited reported third‑quarter 2025 results. Operating revenues were $363 million, producing operating profit of $26 million and a net loss of $11 million (basic and diluted loss per share $0.17). For the nine months, revenues were $1,075 million with a net loss of $67 million.
Cash and cash equivalents were $402 million, total debt $612 million, and shareholders’ equity $2,865 million. Contract backlog totaled $2,511 million as of September 30, 2025, including $2,277 million from drilling contracts and $234 million from other sources; the company expects to realize $335 million of this in the remainder of 2025. Brazil was the largest revenue contributor in Q3 at $160 million.
Legal updates include an Oslo District Court judgment ordering payment of approximately $37 million plus ~$11 million in costs related to West Hercules, for which Seadrill has appealed and issued a NOK574 million guarantee. In the Sonadrill fees case, Seadrill paid a first tranche of ~$43 million and presently estimates aggregate liability is unlikely to exceed $61 million, subject to final calculations. Petrobras asserted delay‑penalty claims of approximately $213 million; the parties agreed to voluntary mediation, and no amounts have been accrued.
As of November 3, 2025, common shares outstanding were 62,374,171.
Seadrill Limited (SDRL) furnished an update on its business by announcing third quarter 2025 results via an accompanying press release.
The company submitted an 8-K under Item 2.02 to provide the market with this information, attaching the full press release as Exhibit 99.1 dated November 5, 2025. The company stated the information provided under Item 2.02, including Exhibit 99.1, is furnished and shall not be deemed filed under Section 18 of the Exchange Act. The filing was signed by Chief Financial Officer Grant Creed.
Seadrill Ltd (SDRL) Form 4 summary: Simon Johnson, listed as President & CEO, reported transactions dated 09/25/2025. He received 27,759 restricted stock units that convert one-for-one into common shares and that were part of a 55,518 RSU grant from 09/25/2023 vesting in two equal annual installments. He also disposed of 11,260 common shares on the same date at a reported price of $31.39 per share. Following these transactions he beneficially owns 105,518 common shares, held directly. The Form 4 is signed by an attorney-in-fact on 09/29/2025.
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.
Ali Samir H, EVP & Chief Commercial Officer of Seadrill Ltd (SDRL), reported Section 16 transactions dated 09/25/2025. A grant of 6,124 restricted stock units converted into 6,124 common shares (one-for-one conversion). On the same date the reporting person disposed of 2,410 common shares at a reported price of $31.39, leaving 28,878 shares beneficially owned after the sale. The Form 4 notes the underlying award originated from a 09/25/2023 grant of 12,248 RSUs that vest in two equal annual installments.
Seadrill Ltd (SDRL) insider activity: Torsten Sauer-Petersen, EVP & Chief Technology & Sustainability Officer, recorded transactions dated 09/25/2025. Restricted stock units converted and vested into common shares and a portion of common shares were sold.
The filing shows 6,124 restricted stock units treated as acquired on conversion to common shares and 2,426 common shares sold at $31.39, leaving 27,037 shares beneficially owned following the reported sale. The RSUs were part of a 12,248 grant made 09/25/2023 vesting in two equal annual installments.