Friday, 07 May 2021 | 01:47
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SDRL – Cancellation of Share Plans, Cash Payment to Primary Insiders

Thursday, 30 July 2020 | 23:00

Seadrill Limited (“Seadrill” or the “Company”) announces that Performance Share Unit awards (“PSUs”) and Restricted Share Unit awards (“RSUs”, and together with the PSUs referred to as “Awards”) granted to employees and other Award holders under the Company’s incentive plans have been offered surrendered in exchange for a one-off compensatory cash payment to such holders (the “Payment”).

The primary insiders of the Company have held in total 510,234 PSUs and 188,369 RSUs. The Payment to primary insiders of the Company amounted to in total USD 210,122, with a payment per PSU and RSU surrendered of USD 0.22353 and USD 0.51, respectively. The allocation of the Payment to primary insiders is set out below.

• Peter Sharpe (Director) had a holding of 0 PSUs and 47,457 RSUs (unvested), which were surrendered in exchange for a one-off cash payment of in total USD 24,203. Following Payment, Peter Sharpe holds 1,701 shares and no Awards in the Company.
• Kjell-Erik Ostdahl (Director) had a holding of 0 PSUs and 47,457 RSUs (unvested), which were surrendered in exchange for a one-off cash payment of in total USD 24,203. Following Payment, Peter Sharpe holds 1,701 shares and no Awards in the Company.
• Anton Dibowitz (CEO) had a holding of 297,339 PSUs and 60,038 RSUs (unvested), which were surrendered in exchange for a one-off cash payment of in total USD 97,084. Following Payment, Anton Dibowitz holds 15,846 shares and no Awards in the Company.
• Stuart Jackson (CFO) had a holding of 120,218 PSUs and 0 RSUs (unvested), which were surrendered in exchange for a one-off cash payment of in total USD 26,873. Following Payment, Stuart Jackson holds 0 shares and no Awards in the Company.
• Leif Nelson (COO) had a holding of 92,677 PSUs and 33,417 RSUs (unvested), which were surrendered in exchange for a one-off cash payment of in total USD 37,759. Following Payment, Leif Nelson holds 8,807 shares and no Awards in the Company.
Source: Seadrill Limited

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