Form 4 for RIG Transocean Ltd.

Accepted 2023-04-25 00:00:00 ET · period of report 2023-04-21 · accession 0001415889-23-006857 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
DI	2023-04-25	2023-04-21	RIG	Perestroika	Dir, 10%	C - Cnv Deriv	$6.17	+34.60M	82.60M	+72%	+$213.48M
DI	2023-04-25	2023-04-21	RIG	Perestroika	Dir, 10%	C - Cnv Deriv	—	0	0	New	—

Purchase Sale Sale after option exercise All abbreviations

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Registered Shares	2023-04-21	C	A	34,600,147	$6.17	82,596,498	I By Perestroika (Cyprus) Ltd.	—	—	(F1) These shares are owned directly by Perestroika (Cyprus) Ltd., which is a wholly owned subsidiary of Perestroika AS. Mr. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS.
2	Derivative	2.5% Senior Guaranteed Exchangeable Bonds due 2027	2023-04-21	C	D	—	—	0	I By Perestroika (Cyprus) Ltd.	$6.17 · 2020-08-14 to 2027-01-30	34,600,147 Registered Shares	(F2) The 2.5% Senior Guaranteed Exchangeable Bonds due January 2027 (the "2.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of Transocean Ltd. (the "Company"), pursuant to an Indenture dated August 14, 2020, among Transocean Inc., the Company and certain subsidiary guarantors, and Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association, and are exchangeable into shares of the Company at an initial exchange rate of 162.1626 Shares per $1,000 principal amount of 2.5% Exchangeable Bonds. (F3) On April 21, 2023, Perestroika (Cyprus) Ltd. exchanged its 2.5% Exchangeable Bonds pursuant to the terms of the Indenture referred to in footnote 1.