SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Vayda Robert Thaddeus

(Last)

(First)

(Middle)

1414 ENCLAVE PARKWAY

(Street)

HOUSTON

77077

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/01/2024

3. Issuer Name and Ticker or Trading Symbol
Transocean Ltd. [ RIG ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP, Chief Financial Officer

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Registered Shares	168,315	D
Registered Shares	91⁽¹⁾	I	By Child⁽¹⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Options	⁽²⁾	02/11/2026	Registered Shares	21,390	$0	D
Stock Options	⁽²⁾	02/10/2027	Registered Shares	16,713	$0	D
Stock Options	⁽²⁾	02/08/2028	Registered Shares	22,556	$0	D
Stock Options	⁽²⁾	02/07/2029	Registered Shares	29,630	$0	D
Restricted Units	⁽³⁾	⁽³⁾	Registered Shares	27,818	$0	D
Restricted Units	⁽⁴⁾	⁽⁴⁾	Registered Shares	35,982	$0	D
Restricted Units	⁽⁵⁾	⁽⁵⁾	Registered Shares	68,511	$0	D

Explanation of Responses:

1. The reporting person disclaims beneficial ownership of these shares, and this report should not be deemed an admission that the reporting person is the beneficial owner of these shares for the purposes of Section 16 or any other purpose.

2. Non-Qualified Stock Options fully vested and exercisable.

3. The Restricted Units were acquired on February 10, 2022, by the reporting person pursuant to the Issuer's long-term incentive plan. The restricted units vest on March 1, 2025.

4. The Restricted Units were acquired on February 9, 2023, by the reporting person pursuant to the Issuer's long-term incentive plan. The restricted share units vest as follows: 17,991 on March 1, 2025; and 17,991 on March 1, 2026.

5. The Restricted Units were acquired on February 8, 2024, by the reporting person pursuant to the Issuer's long-term incentive plan. The restricted share units vest as follows: 22,837 on March 1, 2025; 22,837 on March 1, 2026; and 22,837 on March 1, 2027.

	/s/ Daniel Ro-Trock by Power of Attorney	05/13/2024
	** 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 5 (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.