20180521 RIG_Form 8-K_2018 AGM Results

UNITED STATES

 

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported):  May 18, 2018

 

TRANSOCEAN LTD.

(Exact name of registrant as specified in its charter)

 

Switzerland

    

000-53533

    

98-0599916

(State or other jurisdiction of

 

(Commission

 

(I.R.S. Employer

incorporation or organization)

 

File Number)

 

Identification No.)

 

 

 

 

Turmstrasse 30

   

 

Steinhausen, Switzerland 

 

CH-6312

 

 

 

(Address of principal executive offices)

 

(zip code)

 

Registrant’s telephone number, including area code: +41 (41) 749-0500

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 


 

 

 

 

Item 5.07.    Submission of Matters to a Vote of Security Holders.

 

Transocean Ltd. (the "Company") held its Annual General Meeting of Shareholders on May 18, 2018, in Zug, Switzerland. The shareholders took action on the following matters at the 2018 Annual General Meeting:

 

1.    Proposal regarding the approval of the 2017 Annual Report, including the Audited Consolidated Financial Statements of Transocean Ltd. for Fiscal Year 2017 and the Audited Statutory Financial Statements of Transocean Ltd. for Fiscal Year 2017.

 

 

 

 

 

 

For

    

Against

    

Abstain

 

345,191,386

 

5,152,313

 

3,923,629

 

 

This item was approved.

 

2.    Proposal regarding the discharge of the Members of the Board of Directors and the Executive Management Team from liability for activities during Fiscal Year 2017.

 

 

 

 

 

 

 

 

For

    

Against

    

Abstain

    

Broker Non-Votes

 

253,476,022

 

5,768,709

 

1,358,739

 

93,663,858

 

 

This item was approved.

 

3.    Proposal regarding the appropriation of the accumulated loss for Fiscal Year 2017 and release of CHF 1,500,000,000 of Statutory Capital Reserves from Capital Contribution and Allocation to free Capital Reserves from Capital Contribution.

 

 

 

 

 

 

For

    

Against

    

Abstain

 

340,027,163

 

9,339,775

 

4,900,390

 

 

This item was approved.

 

4.    Proposal regarding the renewal of Authorized Share Capital.

 

 

 

 

 

 

For

    

Against

    

Abstain

 

339,972,041

 

9,769,058

 

4,526,229

 

 

This item was approved


 

5.    Proposals regarding the reelection of eleven directors for a term extending until completion of the next Annual General Meeting.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name of Nominee for

Director

    

For

    

Against

    

Abstain

    

Broker Non-Votes

 

Glyn A. Barker

 

255,412,784

 

4,338,799

 

851,887

 

93,663,858

 

Vanessa C.L. Chang

 

254,015,832

 

5,756,456

 

831,182

 

93,663,858

 

Frederico C. Curado

 

255,720,514

 

4,014,827

 

868,129

 

93,663,858

 

Chadwick C. Deaton

 

255,017,891

 

4,715,112

 

870,467

 

93,663,858

 

Vincent J. Intrieri

 

248,590,263

 

9,265,677

 

2,747,530

 

93,663,858

 

Samuel J. Merksamer

 

255,807,146

 

3,944,990

 

851,334

 

93,663,858

 

Merrill A. "Pete" Miller, Jr.

 

255,369,116

 

4,480,488

 

753,866

 

93,663,858

 

Frederik W. Mohn

 

257,118,404

 

2,646,774

 

838,292

 

93,663,858

 

Edward R. Muller

 

256,066,475

 

3,774,549

 

762,446

 

93,663,858

 

Tan Ek Kia

 

256,219,022

 

3,618,331

 

766,117

 

93,663,858

 

Jeremy D. Thigpen

 

256,209,522

 

3,627,831

 

766,117

 

93,663,858

 

 

Each of the eleven persons listed above were duly reelected as a director of the Company to hold office until the completion of the 2019 Annual General Meeting of Shareholders.

 

6.    Proposal regarding the election of the Chairman of the Board of Directors for a term extending until completion of the next Annual General Meeting.

 

 

 

 

 

 

 

 

 

 

Name of Chairman Nominee

    

For

    

Against

    

Abstain

    

Broker Non-Votes

 

Merrill A. "Pete" Miller, Jr.

 

255,550,160

 

4,292,380

 

760,930

 

93,663,858

 

 

Merrill A. "Pete" Miller, Jr. was elected Chairman of the Board of Directors of the Company to hold office until the completion of the 2019 Annual General Meeting of Shareholders.

 

7.    Proposal regarding the election of the members of the Compensation Committee, each for a term extending until completion of the next Annual General Meeting.

 

 

 

 

 

 

 

 

 

 

Name of Compensation Committee Nominee

    

For

    

Against

    

Abstain

    

Broker Non-Votes

 

Frederico C. Curado

 

255,690,423

 

3,982,360

 

930,687

 

93,663,858

 

Vincent J. Intrieri

 

255,296,547

 

4,383,676

 

923,247

 

93,663,858

 

Tan Ek Kia

 

254,869,713

 

4,818,665

 

915,092

 

93,663,858

 

 

Each of the three persons listed above were duly elected to serve as a member of the Compensation Committee of the Company to hold office until completion of the 2019 Annual General Meeting of Shareholders.

 

8.     Proposal regarding the reelection of the independent proxy for a term extending until completion of the next Annual General Meeting.

 

 

 

 

 

 

 

 

 

 

 

 

 

For

    

Against

    

    

Abstain

    

341,379,957

 

8,775,222

 

 

4,112,149

 

 

This item was approved.


 

 

9.    Proposal regarding the appointment of Ernst & Young LLP as the Company's Independent Registered Public Accounting Firm for Fiscal Year 2018 and reelection of Ernst & Young Ltd, Zurich, as the Company's Auditor for a further one-year term.

 

 

 

 

 

 

 

For

    

Against

    

Abstain

 

344,874,261

 

8,012,072

 

1,380,995

 

 

This item was approved.

 

10.    Proposal regarding the advisory vote to approve Named Executive Officer compensation.

 

 

 

 

 

 

 

 

 

For

    

Against

    

Abstain

    

Broker Non-Votes

 

252,300,486

 

7,307,096

 

995,888

 

93,663,858

 

 

This item was approved.

 

11.    (a) Proposal regarding ratification of the maximum aggregate amount of compensation of the Board of Directors for the period between the 2018 Annual General Meeting and the 2019 Annual General Meeting.

 

 

 

 

 

 

 

 

 

For

    

Against

    

Abstain

    

Broker Non-Votes

 

254,036,251

 

4,797,288

 

1,769,931

 

93,663,858

 

 

This item was approved.

 

11.    (b) Proposal regarding the ratification of the maximum aggregate amount of compensation of the Executive Management Team for Fiscal Year 2019.

 

 

 

 

 

 

 

 

 

For

    

Against

    

Abstain

    

Broker Non-Votes

 

252,942,306

 

5,825,967

 

1,835,197

 

93,663,858

 

This item was approved.

 

12.    Proposal regarding the approval of amendment to the Transocean Ltd. 2015 Long-Term Incentive Plan for Additional Reserves.

 

 

 

 

 

 

 

 

 

For

    

Against

    

Abstain

    

Broker Non-Votes

 

250,631,396

 

8,941,739

 

1,030,335

 

93,663,858

 

 

This item was approved


 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

TRANSOCEAN LTD.

 

 

 

 

Date: May 21, 2018

By:

/s/ Daniel Ro-Trock

 

 

Daniel Ro-Trock

 

 

Authorized Person