secwatch.observer — SEC 8-K summary
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Issuer:     Seadrill Ltd (SDRL)
CIK:        0001737706
Form:       8-K
Filed at:   2026-03-18T23:59:59+00:00
Accession:  0001193125-26-113974
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Seadrill appoints Samir Ali as President and CEO, replacing Simon Johnson
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- Samir Ali, age 40, formerly EVP Chief Commercial Officer, becomes CEO effective March 12, 2026.
- Annual base salary increased to $750,000; target bonus set at 110% of base, max 2x target.
- LTI award of $3.5M: 60% performance-vested RSUs, 40% time-vested RSUs with negative TSR cap.
- Severance enhanced: 24 months base/COBRA without cause/good reason; 3x lump sum within 24 months post-CIC.
- Ali previously at Diamond Offshore, Bain Capital, and Simmons & Company.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1737706/000119312526113974/0001193125-26-113974-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1737706/000119312526113974/d28707d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-113974

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer