Nabors Lux 2 S.a.r.l. - Dec 18, 2023 Form 4 Insider Report for Nabors Energy Transition Corp. (NETC)

Role
10%+ Owner
Signature
By: /s/ Nabors Lux 2 S.a.r.l., by Henricus Reindert Petrus Pollman, Type A Manager
Stock symbol
NETC
Transactions as of
Dec 18, 2023
Transactions value $
$0
Form type
4
Date filed
12/19/2023, 08:46 PM
Previous filing
Aug 28, 2023
Next filing
Jun 26, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NETC Class F Common Stock Disposed to Issuer -4.78M -100% 0 Dec 18, 2023 Class A Common Stock 4.78M See footnote F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Nabors Lux 2 S.a.r.l. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 The shares of the Issuer's Class F common stock, par value $0.0001 per share ("NETC Class F Common Stock") are automatically convertible into shares of the Issuer's Class B common stock, par value $0.0001 per share ("NETC Class B Common Stock") at the time of the Issuer's initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, and have no expiration date. Prior to and following the Issuer's initial business combination, the shares of NETC Class B Common Stock will be convertible, at the option of the holder, into shares of the Issuer's Class A common stock, par value $0.0001 per share.
F2 Nabors Energy Transition Sponsor LLC (the "Sponsor") is the record holder of 2,400,000 shares of NETC Class F Common Stock reported herein. The Sponsor is owned by Greens Road Energy LLC, a Delaware limited liability company ("Greens Road"), and Nabors Lux 2 S.a.r.l. ("Nabors Lux"). As such, Nabors Lux may be deemed to have or share beneficial ownership of the common stock held directly by the Sponsor. Nabors Lux disclaims any beneficial ownership of securities held by the Sponsor other than to the extent of any pecuniary interest it may have therein, directly or indirectly.
F3 On December 15, 2023, Sponsor effectuated a pro rata distribution of 4,325,000 of its shares of NETC Class F Common Stock, of which 1,946,250 were distributed to Greens Road and 2,378,750 were distributed to Nabors Lux.
F4 The shares reported herein were disposed of in transactions in connection with the closing of the business combination (the "Business Combination") between the Issuer, Vast, Neptune Merger Sub, Inc. ("Merger Sub"), the Sponsor and Nabors on December 18, 2023.