19 July 2005 material agreement ● Neutral
Effective July 15, 2005 the board set new annual base salaries for named executives (CEO Long $750,000, COO Cahuzac $435,000, CFO Cauthen $360,000, GC Brown $315,000, CIO Wood $225,000) and created a change-of-control severance policy covering Long, Cahuzac, Brown and Cauthen. If one of them is terminated without cause or leaves for good reason within 24 months after a change of control, they get cash of 2.99 times salary plus target bonus, plus other benefits including excise-tax gross-ups. This adds to the February 2005 severance policy described earlier and is a cost-bearing protection for executives, not a sign of a pending deal (the filing states no transaction).
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13 July 2005 debt financing ● Neutral
On July 8, 2005 Transocean replaced its five-year, $800 million bank credit facility (which was due to expire in 2008) with a new five-year, $500 million revolving credit facility led by Citibank, ending July 8, 2010. Borrowings are priced at LIBOR/Euribor plus 22.5 basis points based on current ratings, and nothing was borrowed as of July 11, 2005.
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12 July 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd Exec. VP & Chief Oper Officer Jean Cahuzac exercised stock options for 16,667 shares and disposed of 33,334 shares.
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12 July 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd VP, Controller David A Tonnel exercised stock options for 1,834 shares and disposed of 3,668 shares.
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5 July 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd director Martin B Mcnamara received a stock option grant for 371 shares.
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5 July 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd director Victor Grijalva received a stock option grant for 111 shares.
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21 June 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd Exec. VP & Chief Oper Officer Jean Cahuzac exercised stock options for 70,000 shares and disposed of 140,000 shares.
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16 June 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd Sr. VP and CFO Gregory L Cauthen exercised stock options for 19,660 shares and disposed of 39,320 shares.
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16 June 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd Sr. VP, HR, IPS & Treasury Steven L Newman exercised stock options for 7,500 shares and disposed of 15,000 shares.
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16 June 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd Sr. VP, Gen Counsel & Corp Sec Eric B Brown exercised stock options for 58,000 shares and disposed of 116,000 shares.
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16 June 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd director J Michael Talbert exercised stock options for 64,400 shares and disposed of 128,800 shares.
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16 June 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd President and CEO Robert L Long exercised stock options for 17,713 shares and disposed of 35,426 shares.
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16 June 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd Exec. VP & Chief Oper Officer Jean Cahuzac exercised stock options for 37,061 shares and disposed of 74,122 shares.
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16 June 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd VP, Controller David A Tonnel exercised stock options for 7,405 shares and disposed of 14,810 shares.
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13 June 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd Sr. VP, Gen Counsel & Corp Sec Eric B Brown exercised stock options for 38,541 shares and disposed of 77,082 shares.
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13 June 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd VP, Controller David A Tonnel exercised stock options for 3,666 shares and disposed of 7,332 shares.
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2 June 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd Sr. VP, Gen Counsel & Corp Sec Eric B Brown sold 1,892 shares at $49.93.
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2 June 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd Exec. VP & Chief Oper Officer Jean Cahuzac exercised stock options for 26,213 shares and disposed of 52,426 shares.
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31 May 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd VP, Controller David A Tonnel sold 300 shares at $49.30.
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26 May 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd Exec. VP & Chief Oper Officer Jean Cahuzac exercised stock options for 18,000 shares and disposed of 36,000 shares.
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16 May 2005 material agreement ● Neutral
Shareholders approved on May 12, 2005 an amendment to the Employee Stock Purchase Plan raising the ordinary shares reserved for it from 2,500,000 to 3,500,000. This slightly increases potential share issuance (up to 1,000,000 more shares) for employees.
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16 May 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd director Roberto Monti received a stock option grant for 1,860 shares.
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16 May 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd director Kristian Siem received a stock option grant for 1,860 shares.
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16 May 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd director Robert M Sprague received a stock option grant for 1,860 shares.
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16 May 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd director Ian Strachan received a stock option grant for 1,860 shares.
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16 May 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd director Martin B Mcnamara received a stock option grant for 1,860 shares.
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16 May 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd director Richard A Pattarozzi received a stock option grant for 1,860 shares.
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16 May 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd director J Michael Talbert received a stock option grant for 1,860 shares.
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16 May 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd director Victor Grijalva received a stock option grant for 1,860 shares.
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16 May 2005 director interest notice ● Neutral
TRANSOCEAN INTERNATIONAL Ltd director Art Lindenauer received a stock option grant for 1,860 shares.
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