Edgar Filing: Schwab David M

Ownership Submission

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Â Schwab David M

2. Date of Event Requiring Statement (Month/Day/Year)
11/02/2012

3. Issuer Name and Ticker or Trading Symbol
Transocean Ltd. [RIG]

(Last)

(First)

(Middle)

4 GREENWAY PLAZA

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Sr. Assoc General Counsel

5. If Amendment, Date Original Filed(Month/Day/Year)

(Street)

HOUSTON,Â TXÂ 77046

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Registered Shares	814 ⁽¹⁾	D	Â
Registered Shares	817 ⁽²⁾	D	Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Deferred Units	Â ⁽³⁾	Â ⁽³⁾	Registered Shares	407	$ ⁽³⁾	D	Â
Deferred Units	Â ⁽⁴⁾	Â ⁽⁴⁾	Registered Shares	1,635	$ ⁽⁴⁾	D	Â
Deferred Units	Â ⁽⁵⁾	Â ⁽⁵⁾	Registered Shares	4,224	$ ⁽⁵⁾	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Schwab David M 4 GREENWAY PLAZA HOUSTON,Â TXÂ 77046	Â	Â	Â Sr. Assoc General Counsel	Â

Signatures

/s/Jill S. Greene by Power of Attorney		11/06/2012
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Represents deferred shares awarded on October 1, 2010 and vested in one-third increments: 407 shares on October 1, 2011; and 407 shares on October 1, 2012.
(2)	Represents deferred shares awarded on February 10, 2011 and vested in one-third increments: 817 shares on February 10, 2012.
(3)	Deferred Units, which are 1-for-1 registered share equivalents, acquired on October 1, 2010, pursuant to the issuer's long-term incentive plan. Deferred Units are payable in registered shares of the issuer and vested in one-third increments on October 1, 2011 and October 1, 2012 and the remaining one-third will vest on October 1, 2013.
(4)	Deferred Units, which are 1-for-1 registered share equivalents, acquired on February 10, 2011, pursuant to the issuer's long-term incentive plan. Deferred Units are payable in registered shares of the issuer and vested in one-third increments on February 10, 2012 and the remaining two-thirds will vest on February 10, 2013 and February 10, 2014, respectively.
(5)	Deferred Units, which are 1-for-1 registered share equivalents, acquired on February 17, 2012, pursuant to the issuer's long-term incentive plan. Deferred Units are payable in registered shares of the issuer and vest in one-third increments on February 17, 2013, February 17, 2014 and February 17, 2015.

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