RIG Transocean Ltd

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES                                                                                   
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940                       

1. Name and Address of Reporting Person * Adamson Keelan	2. Issuer Name and Ticker or Trading Symbol Transocean Ltd. [ RIG ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                    _____ 10% Owner __X__ Officer (give title below)    _____ Other (specify below) Executive Vice President & COO
(Last)          (First)          (Middle) 1414 ENCLAVE PARKWAY	3. Date of Earliest Transaction (MM/DD/YYYY) 2/10/2022
(Street) HOUSTON, TX 77077 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Registered Shares	2/10/2022		M		69610 (1)	A	$0	355981	D
Registered Shares	2/11/2022		F		27532 (2)	D	$3.61	328499	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Units	$0	2/10/2022		A		404624		(3)	(3)	Registered Shares	404624	$0	404624	D

Explanation of Responses:
(1)	Deferred Units awarded on February 7, 2019, vested on February 10, 2022, upon satisfaction of the applicable performance measures pursuant to the Issuer's 2019-2021 performance cycle.
(2)	Shares sold upon vesting to satisfy tax withholding obligations.
(3)	The Restricted Units were acquired on February 10, 2022, by the reporting person pursuant to the Issuer's long-term incentive plan. The restricted share units vest as follows: 134,874 on March 1, 2023; 134,875 on March 1, 2024; and 134,875 on March 1, 2025.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Adamson Keelan 1414 ENCLAVE PARKWAY HOUSTON, TX 77077			Executive Vice President & COO

Signatures
/s/ Daniel Ro-Trock by Power of Attorney		2/14/2022
**Signature of Reporting Person		Date