Transocean Ltd. — Director's Dealing 2011

Feb 14, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Transocean Ltd. (RIG)
CIK: 0001451505
Period of Report: 2011-02-10

Reporting Person: Briscoe John H (Vice President and Controller)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-10	Stock Options	$78.76	A	5238	Acquired	2021-02-09	Registered Shares (5238)	Direct
2011-02-10	Deferred Units	$0	A	2663	Acquired		Registered Shares (2663)	Direct

Footnotes

F1: On February 10, 2011, the reporting person was awarded 5,238 stock options which vest as follows: 1,746 on February 10, 2012; 1,746 on February 10, 2013; and 1,746 on February 10, 2014.

F2: Deferred Units, which are 1-for-1 share equivalents, were acquired on February 10, 2011 pursuant to the issuer's long-term incentive plan and vest as follows: 887 on February 10, 2012; 888 on February 10, 2013; and 888 on February 10, 2014.