Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN 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 *
Stobart John B
  2. Issuer Name and Ticker or Trading Symbol
Transocean Ltd. [RIG]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP & COO
(Last)
(First)
(Middle)
10 CHEMIN DE BLANDONNET
3. Date of Earliest Transaction (Month/Day/Year)
03/01/2016
(Street)

VERNIER, V8 1214
4. If Amendment, Date Original Filed(Month/Day/Year)
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 Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Registered Shares 03/01/2016   M   4,794 A $ 0 (1) 22,992 D  
Registered Shares 03/01/2016   M   1,254 A $ 0 (2) 24,246 D  
Registered Shares 03/01/2016   M   8,303 A $ 0 (3) 32,549 D  
Registered Shares 03/01/2016   M   2,740 A $ 0 (4) 35,289 D  
Registered Shares 03/01/2016   M   15,612 A $ 0 (5) 50,901 D  
Registered Shares 03/01/2016   F   13,635 (6) D $ 8.81 37,266 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Units $ 0 03/01/2016   M     4,794 03/01/2016(1)   (1) Registered Shares 4,794 $ 0 0 D  
Restricted Units $ 0 03/01/2016   M     1,254 03/01/2016(2)   (2) Registered Shares 1,254 $ 0 1,255 D  
Restricted Units $ 0 03/01/2016   M     8,303 03/01/2016(3)   (3) Registered Shares 8,303 $ 0 8,304 D  
Restricted Units $ 0 03/01/2016   M     2,704 03/01/2016(4)   (4) Registered Shares 2,704 $ 0 5,481 D  
Restricted Units $ 0 03/01/2016   M     15,612 03/01/2016(5)   (5) Registered Shares 15,612 $ 0 31,224 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Stobart John B
10 CHEMIN DE BLANDONNET
VERNIER, V8 1214
      EVP & COO  

Signatures

 /s/ Daniel Ro-Trock By Power of Attorney   03/03/2016
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(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) Restricted Units, which are 1-for-1 equivalents, acquired on February 14, 2013, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2016, resulting in delivery of registered shares to the reporting person.
(2) Restricted Units, which are 1-for-1 equivalents, acquired on February 13, 2014, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2016, resulting in delivery of registered shares to the reporting person.
(3) Restricted Units, which are 1-for-1 equivalents, acquired on February 13, 2014, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2016, resulting in delivery of registered shares to the reporting person.
(4) Restricted Units, which are1-for-1 equivalents, acquired on February 13, 2015, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2016, resulting in delivery of registered shares to the reporting person.
(5) Restricted Units, which are 1-for-1 equivalents, acquired on February 13, 2015, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2016, resulting in deliveryof registered shares to the reporting person.
(6) Shares sold upon vesting to satisify tax witholding obligations.

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