Transocean Ltd. — Director's Dealing 2011

Nov 17, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Transocean Ltd. (RIG)
CIK: 0001451505
Period of Report: 2011-11-17

Reporting Person: ROSA RICARDO H. (Exec Vice President & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-17	Registered Shares	M	4183	—	Acquired	15925	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-11-17	Deferred Units	$0	M	4183	Disposed		Registered Shares (4183)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	474	Indirect

Footnotes

F1: Deferred Units, which are 1-for-1 share equivalents, were acquired on November 17, 2010, pursuant to the Issuer's long-term incentive plan. One-third of such deferred units vested on November 17, 2011, resulting in delivery of registered shares to the reporting person.