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: Newman Steven L (Chief Executive Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-10	Stock Options	$78.76	A	57621	Acquired	2021-02-09	Registered Shares (57621)	Direct
2011-02-10	Deferred Units	$0	A	29294	Acquired		Registered Shares (29294)	Direct

Footnotes

F1: On February 10, 2011, the reporting person was awarded 57,621 stock options which vest as follows: 19,207 on February 10, 2012; 19,207 on February 10, 2013; and 19,207 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: 9,764 on February 10, 2012; 9,765 on February 10, 2013; and 9,765 on February 10, 2014.