X0202 4 2005-04-22 0 0000085408 ROWAN COMPANIES INC RDC 0001188541 PEACOCK P DEXTER 2800 POST OAK BLVD. SUITE 5450 HOUSTON TX 77056-6127 1 0 0 0 Restricted Stock Units 0 2005-04-22 2005-05-12 4 A 0 3000 0 A 2005-04-22 1988-08-08 Common Stock 3000 3000 D Restricted Stock Units 0 2005-04-22 2005-05-12 4 A 0 2700 0 A 2006-04-28 1988-08-08 Common Stock 2700 2700 D These "1-for-1" restricted stock units, which were approved by the Issuer's Board of Directors on April 22, 2005, relate to the Reporting Person's director annual service period that began April 22, 2005 and become fully vested and nonforfeitable on April 28, 2006, which is the next regularly-scheduled annual stockholders' meeting of the Issuer. The Reporting Person acknowledged and accepted such restricted stock units on May 12, 2005. These "1-for-1" restricted stock units, which were approved by the Issuer's Board of Directors on April 22, 2005, relate to the Reporting Person's director annual service period that began April 22, 2005 and become fully vested and nonforfeitable on April 28, 2006, which is the next regularly-scheduled annual stockholders' meeting of the Issuer. The Reporting Person acknowledged and accepted such restricted stock units on May 12, 2005. The payout from the Reporting Person's restricted stock units account (in Issuer common stock or, at the discretion of the Issurer's Compensation Committee, in cash) will occur upon the termination date of the Reporting Persons service on the Board. *** See Power of Attorney attached. /s/ Mark Hay*** 2005-05-12