0001193125-23-226411.txt : 20230831 0001193125-23-226411.hdr.sgml : 20230831 20230831171525 ACCESSION NUMBER: 0001193125-23-226411 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230831 FILED AS OF DATE: 20230831 DATE AS OF CHANGE: 20230831 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Seadrill Ltd CENTRAL INDEX KEY: 0001737706 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 000000000 STATE OF INCORPORATION: D0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39327 FILM NUMBER: 231229443 BUSINESS ADDRESS: STREET 1: PAR-LA-VILLE PLACE, 14 PAR-LA-VILLE ROAD CITY: HAMILTON STATE: D0 ZIP: HM 08 BUSINESS PHONE: 441 295 9500 MAIL ADDRESS: STREET 1: PAR-LA-VILLE PLACE, 14 PAR-LA-VILLE ROAD CITY: HAMILTON STATE: D0 ZIP: HM 08 FORMER COMPANY: FORMER CONFORMED NAME: NEW SDRL LTD. DATE OF NAME CHANGE: 20180417 6-K 1 d549518d6k.htm 6-K 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2023

Commission File Number 001-39327

 

 

Seadrill Limited

(Exact name of Registrant as specified in its Charter)

 

 

Park Place

55 Par-la-Ville Road

Hamilton HM 11 Bermuda

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒            Form 40-F  ☐

 

 

 

ITEM 1. INFORMATION CONTAINED IN THIS FORM 6-K REPORT

 

LOGO

Seadrill Limited – Cash settlement under Management Incentive Plan

Hamilton, Bermuda, August 31, 2023

Reference is made to the announcements made by Seadrill Limited (“Seadrill” or the “Company”) (NYSE & OSE: SDRL) on August 8, 2022, and April 21, 2023 regarding the Company’s management incentive plan (the “Plan”).

A portion of certain Time-vested Restricted Stock Units (“TRSUs”) previously awarded to primary insiders of the Company, Simon Johnson (President and Chief Executive Officer), Grant Creed (EVP, Chief Financial Officer), Leif Nelson (EVP, Chief Operations & Technology Officer), Torsten Sauer-Petersen (EVP, Human Resources), Samir Ali (EVP, Chief Commercial Officer) and Todd Strickler (SVP, General Counsel) has vested and been cash settled as further described in the attached forms.

This information is subject to disclosure requirements pursuant to article 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.

Contact Information

For additional information, visit www.seadrill.com.

Lydia Brantley Mabry

Director of Investor Relations

T: +1 (832) 252-7064

E: lydia.mabry@seadrill.com

About Seadrill

Seadrill is a leading offshore drilling contractor utilizing advanced technology to unlock oil and gas resources for clients across harsh and benign locations around the globe. Seadrill’s high-quality, technologically-advanced fleet spans all asset classes allowing its experienced crews to conduct operations across geographies, from shallow to ultra-deepwater environments.

1    Details of the person discharging managerial responsibilities/person closely associated
a)    Name    Simon Johnson
2    Reason for the notification
a)    Position/status    Primary insider, Chief Executive Officer
b)    Initial notification/Amendment    Initial notification
3    Details of issuer   
a)    Name    Seadrill Limited
b)    LEI    213800LZ4WWG15NAC829
4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)   

Description of the financial instrument, type of instrument

Identification code

    Derivative, Time-vested Restricted Stock Units linked to the shares of Seadrill Limited (BMG7998G1069)
b)    Nature of the transaction    Cash settlement of Time-vested Restricted Stock Units.
c)    Price(s) and volume(s)    Price(s)    Volume(s)
      USD 46.84    17,809
d)   

Aggregated information

—   Aggregated volume

—   Price

    Cash settlement of 17,809 Time-vested Restricted Stock Units for a total of USD 834,174.
e)    Date of the transaction    2023-08-31
f)    Place of the transaction    Outside a trading venue.

 

1

1    Details of the person discharging managerial responsibilities/person closely associated
a)    Name    Leif Nelson
2    Reason for the notification
a)    Position/status    Primary insider, Chief Operations & Technology Officer
b)    Initial notification/Amendment    Initial notification
3    Details of issuer   
a)    Name    Seadrill Limited
b)    LEI    213800LZ4WWG15NAC829
4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)   

Description of the financial instrument, type of instrument

Identification code

    Derivative, Time-vested Restricted Stock Units linked to the shares of Seadrill Limited (BMG7998G1069)
b)    Nature of the transaction    Cash settlement of Time-vested Restricted Stock Units.
c)    Price(s) and volume(s)    Price(s)    Volume(s)
      USD 46.84    8,904
d)   

Aggregated information

—   Aggregated volume

—   Price

    Cash settlement of 8,904 Time-vested Restricted Stock Units for a total of USD 417,063.
e)    Date of the transaction    2023-08-31
f)    Place of the transaction    Outside a trading venue.

 

2

1    Details of the person discharging managerial responsibilities/person closely associated
a)    Name    Grant Creed
2    Reason for the notification
a)    Position/status    Primary insider, Chief Financial Officer
b)    Initial notification/Amendment    Initial notification
3    Details of issuer   
a)    Name    Seadrill Limited
b)    LEI    213800LZ4WWG15NAC829
4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)   

Description of the financial instrument, type of instrument

Identification code

    Derivative, Time-vested Restricted Stock Units linked to the shares of Seadrill Limited (BMG7998G1069)
b)    Nature of the transaction    Cash settlement of Time-vested Restricted Stock Units.
c)    Price(s) and volume(s)    Price(s)    Volume(s)
      USD 46.84    6,233
d)   

Aggregated information

—   Aggregated volume

—   Price

    Cash settlement of 6,233 Time-vested Restricted Stock Units for a total of USD 291,954.
e)    Date of the transaction    2023-08-31
f)    Place of the transaction    Outside a trading venue.

 

3

1    Details of the person discharging managerial responsibilities/person closely associated
a)    Name    Torsten Sauer-Petersen
2    Reason for the notification
a)    Position/status    Primary insider, Human Resources
b)    Initial notification/Amendment    Initial notification
3    Details of issuer   
a)    Name    Seadrill Limited
b)    LEI    213800LZ4WWG15NAC829
4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)   

Description of the financial instrument, type of instrument

Identification code

    Derivative, Time-vested Restricted Stock Units linked to the shares of Seadrill Limited (BMG7998G1069)
b)    Nature of the transaction    Cash settlement of Time-vested Restricted Stock Units.
c)    Price(s) and volume(s)    Price(s)    Volume(s)
      USD 46.84    4,452
d)   

Aggregated information

—   Aggregated volume

—   Price

    Cash settlement of 4,452 Time-vested Restricted Stock Units for a total of USD 208,532.
e)    Date of the transaction    2023-08-31
f)    Place of the transaction    Outside a trading venue.

 

4

1    Details of the person discharging managerial responsibilities/person closely associated
a)    Name    Samir Ali
2    Reason for the notification
a)    Position/status    Primary insider, Chief Commercial Officer
b)    Initial notification/Amendment    Initial notification
3    Details of issuer   
a)    Name    Seadrill Limited
b)    LEI    213800LZ4WWG15NAC829
4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)   

Description of the financial instrument, type of instrument

Identification code

    Derivative, Time-vested Restricted Stock Units linked to the shares of Seadrill Limited (BMG7998G1069)
b)    Nature of the transaction    Cash settlement of Time-vested Restricted Stock Units.
c)    Price(s) and volume(s)    Price(s)    Volume(s)
      USD 46.84    4,452
d)   

Aggregated information

—   Aggregated volume

—   Price

    Cash settlement of 4,452 Time-vested Restricted Stock Units for a total of USD 208,532.
e)    Date of the transaction    2023-08-31
f)    Place of the transaction    Outside a trading venue.

 

5

1    Details of the person discharging managerial responsibilities/person closely associated
a)    Name    Todd Strickler
2    Reason for the notification
a)    Position/status    Primary insider, General Counsel
b)    Initial notification/Amendment    Initial notification
3    Details of issuer   
a)    Name    Seadrill Limited
b)    LEI    213800LZ4WWG15NAC829
4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)   

Description of the financial instrument, type of instrument

Identification code

    Derivative, Time-vested Restricted Stock Units linked to the shares of Seadrill Limited (BMG7998G1069)
b)    Nature of the transaction    Cash settlement of Time-vested Restricted Stock Units.
c)    Price(s) and volume(s)    Price(s)    Volume(s)
      USD 46.84    1,069
d)   

Aggregated information

—   Aggregated volume

—   Price

    Cash settlement of 1,069 Time-vested Restricted Stock Units for a total of USD 50,072.
e)    Date of the transaction    2023-08-31
f)    Place of the transaction    Outside a trading venue.

 

6

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    SEADRILL LIMITED
Date: August 31, 2023     By:  

/s/ Simon Johnson

      Name: Simon Johnson
      Title: Chief Executive Officer of Seadrill Management Ltd.
      (Principal Executive Officer of Seadrill Limited)
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