New insider Sauer-Petersen Torsten claimed ownership of 6,973 shares (SEC Form 3)
$SDRL
Oil & Gas Production
Energy
| 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 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 01/01/2025 |
3. Issuer Name and Ticker or Trading Symbol
Seadrill Ltd [ SDRL ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
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| 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) |
| Common Shares | 6,973 | D | |
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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| 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) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Restricted Stock Units | (1) | (1) | Common Shares | 4,453 | (1) | D | |
| Restricted Stock Units | (2) | (2) | Common Shares | 6,124 | (2) | D | |
| Restricted Stock Units | (3) | (3) | Common Shares | 11,738 | (3) | D | |
| Restricted Stock Units | (4) | (4) | Common Shares | 31,165 | (4) | D | |
| Restricted Stock Units | (5) | (5) | Common Shares | 7,620 | (5) | D | |
| Explanation of Responses: |
| 1. Represents restricted stock units granted to the reporting person on August 6, 2022. Each restricted stock unit represents a contingent right to receive one common share, par value $0.01 per share (a "Common Share"), of Seadrill Limited (the "Company"). The restricted stock units vest on August 6, 2025 and will be settled in cash or Common Shares at the election of the Joint Nomination and Remuneration Committee of the Board of Directors of the Company (the "Committee"). |
| 2. Represents restricted stock units granted to the reporting person on September 25, 2023. Each restricted stock unit represents a contingent right to receive one Common Share. The restricted stock units vest on September 25, 2025 and will be settled in cash or Common Shares at the election of the Committee. |
| 3. Represents restricted stock units granted to the reporting person on April 17, 2024. Each restricted stock unit represents a contingent right to receive one Common Share. The restricted stock units vest in three equal annual installments beginning on April 17, 2025 and will be settled in cash or Common Shares at the election of the Committee. |
| 4. Represents performance-based restricted stock units granted to the reporting person on August 6, 2022. Each restricted stock unit represents a contingent right to receive one Common Share. The restricted stock units may be earned based on the extent the Company maintains or exceeds set per Common Share trading prices for a period of at least 45 consecutive trading days over the period beginning on August 6, 2022 and ending on August 6, 2025. The earned restricted stock units vest subject to the reporting person's continued employment during such period and will be settled in cash or Common Shares at the election of the Committee. |
| 5. Represents performance-based restricted stock units granted to the reporting person on September 25, 2023 for which the performance metric described below has been certified by the Committee. Each restricted stock unit represents a contingent right to receive one Common Share. The restricted stock units were earned based on the achievement of an annual free cash flow performance metric for the annual measurement period beginning on January 1, 2023 and ending on December 31, 2023. The earned restricted stock units vest subject to the reporting person's continued employment from the grant date through December 31, 2025 and will be settled in cash or Common Shares at the election of the Committee. |
| Remarks: |
| Exhibit List: Exhibit 24 - Power of Attorney |
| /s/ Todd D. Strickler, attorney-in-fact | 01/02/2025 | |
| ** 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. | ||