Transocean Ltd. — Director's Dealing 2011

Feb 16, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Transocean Ltd. (RIG)
CIK: 0001451505
Period of Report: 2011-02-16

Reporting Person: MCNAMARA MARTIN B (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-16	Registered Shares	M	5635	$53.15	Acquired	24688	Direct
2011-02-16	Registered Shares	S	4573	$79.50	Disposed	20115	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-16	Stock Options	$53.15	M	5635	Disposed	2011-05-10	Registered Shares (5635)	Direct

Footnotes

F1: The transactions reported in this Form 4, including the exercise of 5,635 options and the related sale of 4,573 registered shares to cover the exercise costs, taxes and commissions, were effected pursuant to a Rule 10b5-1 trading plan.

F2: The options are fully vested and exercisable.