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Form 4 Transocean Ltd. For: Mar 02 Filed by: Tonnel David A

March 4, 2015 6:46 PM EST
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person *
Tonnel David A

(Last) (First) (Middle)
4 GREENWAY PLAZA

(Street)
HOUSTON TX 77046

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Transocean Ltd. [ RIG ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
SVP, Finance & Controller
3. Date of Earliest Transaction (Month/Day/Year)
03/02/2015
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Registered Shares 03/02/2015   M   3,148 A $ 0 (1) 21,311 D  
Registered Shares 03/02/2015   M   2,557 A $ 0 (2) 23,868 D  
Registered Shares 03/02/2015   M   3,886 A $ 0 (3) 27,754 D  
Registered Shares 03/02/2015   F   4,039 D $ 0 (4) 23,715 D  
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Deferred Units $ 0 (1) 03/02/2015   M     3,148 03/02/2015 (1)   (1) Registered Shares 3,148.00 $ 0 0 D  
Deferred Units $ 0 (2) 03/02/2015   M     2,557 03/02/2015 (2)   (2) Registered Shares 2,557.00 $ 0 2,557 D  
Deferred Units $ 0 (3) 03/02/2015   M     3,886 03/02/2015   (3) Registered Shares 3,886.00 $ 0 7,774 D  
Explanation of Responses:
1. Deferred Units, which are 1-for-1 share equivalents, acquired on February 17, 2012, pursuant to the Issuer's long-term incentive plan. One third of such deferred units vested on March 1, 2015, resulting in delivery of registered shares to the reporting person.
2. Deferred Units, which are 1-for-1 share equivalents, acquired on February 14, 2013, pursuant to the Issuer's long-term incentive plan. One third of such deferred units vested on March 1, 2015, resulting in delivery of registered shares to the reporting person.
3. Deferred Units, which are 1-for-1 share equivalents, acquired on February 13, 2014, pursuant to the Issuer's long-term incentive plan. One third of such deffered units vested on March 1, 2015, resulting in delivery of registered shares to the reporting person.
4. Shares sold upon vesting to satisfy tax withholding obligations.
/s/Jill S. Greene, By Power of Attorney 03/04/2015
** 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 4 (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.


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