Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 6-K

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REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2024

Commission File Number: 001-39327

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SEADRILL LIMITED

(Exact name of Registrant as specified in its Charter)

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Park Place

55 Par-la-Ville Road
Hamilton HM 11 Bermuda

(Address of principal executive office)

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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒        Form 40-F ☐

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Seadrill Announces Transactions Made Under the Company’s Share Repurchase Program

Hamilton, Bermuda, June 10, 2024 - Seadrill Limited (“Seadrill” or the “Company”) (NYSE & OSE: SDRL) initiated a share repurchase program December 14, 2023 to repurchase up to $250 million of the Company’s common shares in open market transactions on the OSE and NYSE until no later than September 30, 2024 pursuant to an agreement with Fearnley Securities AS and its subsidiary, Fearnley Securities, Inc. (“Fearnley”).

For the period from and including June 3, 2024 through June 7, 2024, the Company purchased a total of 194,562 shares at an average price of $49.35 per share. The transactions effected through the agreement with Fearnley comprise all the transactions effected by or on behalf of the Company during the period.

Transaction Overview

Date			Trading Venue			Volume			Weighted Average Share Price (USD)			Total Daily Transaction Value (USD)
3-Jun-24			OSE			0			0.00			0
3-Jun-24			NYSE			38,750			50.11			1,941,577
4-Jun-24			OSE			3,000			48.86			146,588
4-Jun-24			NYSE			37,500			48.67			1,825,219
5-Jun-24			OSE			2,553			48.73			124,404
5-Jun-24			NYSE			35,897			49.31			1,769,923
6-Jun-24			OSE			4,284			49.13			210,491
6-Jun-24			NYSE			34,142			49.46			1,688,769
7-Jun-24			OSE			3,762			49.64			186,742
7-Jun-24			NYSE			34,674			49.26			1,707,903
Period Total			OSE			13,599			49.14			668,224
			NYSE			180,963			49.37			8,933,390
			Total			194,562			49.35			9,601,615
Previously Disclosed Buybacks Under the Program (Accumulated)			OSE			542,561			46.67			25,321,060
			NYSE			4,082,234			47.45			193,707,100
			Total			4,624,795			47.36			219,028,160
Program Total			OSE			556,160			46.73			25,989,285
			NYSE			4,263,197			47.53			202,640,490
			Total			4,819,357			47.44			228,629,775

The issuer’s holding of repurchased shares: 4,819,357

Following the completion of the above transactions, the Company had repurchased a total of 4,819,357 shares, corresponding to 6.51% of the Company’s total issued share count.

Appendix:
An overview of all transactions made under the Company’s repurchase program and its agreement with Fearnley that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.

Contact

Lydia Brantley Mabry

Director of Investor Relations

[e-mail]

About Seadrill Limited
Seadrill is a leading offshore drilling contractor utilizing advanced technology to unlock oil and gas resources for clients across harsh and benign locations around the globe. Seadrill’s high-quality, technologically-advanced fleet spans all asset classes allowing its experienced crews to conduct operations across geographies, from shallow to ultra-deepwater environments.

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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, thereunto duly authorized.

			SEADRILL LIMITED
Date: June 10, 2024
			By:			/s/ Grant Creed                       Name: Grant Creed Title: Chief Financial Officer

THIS REPORT ON FORM 6-K IS HEREBY INCORPORATED BY REFERENCE INTO (I) THE REGISTRATION STATEMENT ON FORM F-3 (NO. 333-271916) ORIGINALLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MAY 15, 2023 AND (II) THE REGISTRATION STATEMENT ON FORM S-8 (NO. 333-276710) ORIGINALLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 26, 2024.

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