He has a vehicle mode: Fold the entire wing down halfway along it's length, straighten out the struts it's attached to and turn the wing so the curved edge is facing down. It's labelled Transportation Mode, but it's effectively a Depth Charge Tie Fighter !
TF (from beast to robot) Start by TF'ing to vehicle mode, then remove the very end of the tail - it pulls out - and the shark underneath. Unhitch the sides of the beast head with the eyes on from the main body. Find the back of each side and fold the top of both sides forward to form legs. Pull the disc cover up & forward via some hinged struts on the side of the toy so that the cover 's hinge is in front of the beast mouth. Fold the panel behind the disc storage forward to reveal the robot head. Pick the entire toy up and allow the legs and flap to dangle underneath it. The struts attached to them are in turn attached to a piece under the beast that needs to be rotated through 180 degrees. Bring the robot hips together and then fold the struts up behind the robot's waist and lock the waist into the underside of the beast. Fold down the feet and heel spurs. Fold the disc cover down behind the legs as a sort of shirt (think original BSG Cylon Centurion or SW:ESB Snowtrooper) There's a pair of engines pointing out the back of the beast now that end in silver chromed cones. Bend these down slightly then fold forward to form the robot arms. The forearms then come apart down each side which causes the underside to drop back at the elbow and allowing the cone to be folded back in turn revealing a chromed hand. Fold the remainder of the tail down as extra support for the body which is a tad back heavy ! Pose the wings according to personal preference. Place tail end in one hand as a sword and the shark in the other as double barrelled missile launcher.
Robot is big and imposing - great colour mix with the grey, chromed silver, some blue and a surprisingly large amount of purple which is rare for a Maximal/Autobot. The last time these colours cropped up on an Autobot (Gobot Ironhide) it looked awful, here it looks great suiting his role as an undersea warrior. His ankle articulation comes from the folding down of the feet during TF, the knees bend above and bellow the kneecap - which is complete with the barbs sticking out the front of them. The hips are ball jointed, he turns above the waist and at the neck. The shoulders move forwards & back, and swing to the sides. He's got a bicep swivel joint and a bending elbow on the arm. The wings have a multijointed connection to the back of the body - the strut rotates where it meets the body, bends, rotates again, bends again and rotates for a third time allowing a surprising degree of movement and flexibility to the wings - either out to the sides tie fighter style or folded in like a glider spring to mind immediately.
I've not had Depth Charge out of his box in at least five years but I may have been mistaken - it's a great toy, very good looking, very poseable, with weapons and a decent built in action feature. Well worth a look.
When Depth Charge was released in Japan he was BW Metals toy D-46 and also appeared in VS-46 with Transmetal Scavenger