UNITED STATES
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On August 27, 2025, the Joint Nomination and Remuneration Committee of the Board of Directors of Seadrill Limited (the “Company”) approved the annual base salaries of certain of the Company’s named executive officers, effective as of September 15, 2025, as follows:
Name and Position |
Base Salary | |||
Grant Creed, Executive Vice President and Chief Financial Officer |
$ | 465,000 | ||
Samir Ali, Executive Vice President, Chief Commercial Officer |
$ | 440,000 | ||
Torsten Sauer-Petersen, Executive Vice President, Chief Technology & Sustainability Officer |
$ | 440,000 | ||
Todd Strickler, Senior Vice President and General Counsel |
$ | 425,000 | ||
The increase to Mr. Sauer-Petersen’s base salary above was due, in part, to his change in responsibilities as Executive Vice President, Chief Technology & Sustainability Officer, effective as of August 27, 2025.
The information required by Items 401(b) and (e) of Regulation S-K for Mr. Sauer-Petersen was included under Part I, Item I, “Business—Information About Our Executive Officers” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the Securities and Exchange Commission on February 27, 2025, and is incorporated by reference herein. There are no arrangements or understandings between Mr. Sauer-Petersen and any other persons pursuant to which he was selected as an executive officer. There are no family relationships between Mr. Sauer-Petersen and any director or executive officer of the Company. There are no transactions in which Mr. Sauer-Petersen has an interest that are required to be disclosed pursuant to Item 404(a) of Regulation S-K.
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 hereunto duly authorized.
| SEADRILL LIMITED | ||||||
| Date: September 3, 2025 | ||||||
| By: | /s/ Grant Creed | |||||
| Name: | Grant Creed | |||||
| Title: | Chief Financial Officer | |||||