Elliott Management Amends Seadrill Stake Filing

TL;DR

Elliott Management updated its Seadrill filing, watch for changes.

AI Summary

Elliott Investment Management L.P. has filed an amendment (Amendment No. 5) to its Schedule 13D/A for Seadrill Limited, dated June 13, 2024. The filing indicates a change in the reporting person's holdings or intentions regarding Seadrill Limited's common shares.

Why It Matters

This filing signals a potential shift in the ownership structure or strategic interest of a significant investor in Seadrill Limited, which could impact the company's stock performance and corporate governance.

Risk Assessment

Risk Level: medium — Amendments to 13D filings often indicate changes in an activist investor's strategy or stake, which can lead to increased volatility.

Key Players & Entities

• Elliott Investment Management L.P. (company) — Reporting Person
• Seadrill Limited (company) — Subject Company
• Eleazer Klein, Esq. (person) — Legal Counsel
• Adriana Schwartz, Esq. (person) — Legal Counsel
• Schulte Roth & Zabel LLP (company) — Legal Counsel

FAQ

Key Financial Figures

• $0.01 — e of Issuer) Common Shares, par value $0.01 per share (Title of Class of Securitie
• $80,400,513 — Shares reported herein is approximately $80,400,513. The Reporting Person may effect purc

Filing Documents

• p24-2133sc13da.htm (SC 13D/A) — 36KB
• 0000902664-24-004270.txt ( ) — 37KB

of the Schedule 13D is hereby amended and restated to read as follows

Item 3 of the Schedule 13D is hereby amended and restated to read as follows:

of the Schedule 13D is incorporated herein by reference

Item 4 of the Schedule 13D is incorporated herein by reference. The aggregate cost of the Common Shares reported herein is approximately $80,400,513. The Reporting Person may effect purchases of the Common Shares through margin accounts maintained for the Elliott Funds with prime brokers, which extend margin credit as and when required to open or carry positions in their margin accounts, subject to applicable federal margin regulations, stock exchange rules and such firms' credit policies. Positions in the Common Shares may be held in margin accounts and may be pledged as collateral security for the repayment of debit balances in such accounts. Since other securities may be held in such margin accounts, it may not be possible to determine the amounts, if any, of margin used to purchase the Common Shares. Item 5. INTEREST IN SECURITIES OF THE ISSUER Items 5(a)-(c) of the Schedule 13D are hereby amended and restated to read as follows: (a) See rows (11) and (13) of the cover page to this Schedule 13D for the aggregate number of Common Shares and percentage of Common Shares beneficially owned by the Reporting Person. The aggregate percentage of Common Shares reported beneficially owned by the Reporting Person is based upon 74,061,339 admitted Common Shares as set forth on the Euronext website as of the date hereof. (b) See rows (7) through (10) of the cover page to this Schedule 13D for the Common Shares as to which the Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition. (c) The transactions in the Common Shares effected by the Reporting Person since the filing of Amendment No. 4, which were all in the open market, are set forth on Schedule 1 attached hereto. CUSIP No. G7997W102 Schedule 13D/A Page 4 of 5 Pages

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of its knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. DATE: June 13, 2024 Elliott Investment Management L.P. /s/ Elliot Greenberg Name: Elliot Greenberg Title: Vice President CUSIP No. G7997W102 Schedule 13D/A Page 5 of 5 Pages SCHEDULE 1 Transactions in the Common Shares of the Issuer by the Reporting Person Since the Filing of Amendment No. 4 The following table sets forth all transactions in the Common Shares effected since the filing of Amendment No. 4 by the Reporting Person. Except as noted below, all such transactions were effected in the open market through brokers and the price per share includes commissions. Trade Date Shares Purchased (Sold) Price Per Share ($) 05/23/2024 (31,684) 51.08 05/28/2024 (78,655) 51.89 05/29/2024 (14,945) 51.27 05/30/2024 (12,023) 51.10 05/31/2024 (23,188) 51.63 06/03/2024 (51,441) 50.16 06/04/2024 (28,313) 48.97 06/05/2024 (100,000) 49.54 06/06/2024 (24,947) 49.50 06/07/2024 (21,400) 49.26 06/10/2024 (111,353) 51.59 06/11/2024 (102,994) 51.31 06/12/2024 (39,625) 51.69 06/13/2024 (13,503) 50.23

View Full Filing

View this SC 13D/A filing on SEC EDGAR