John P. Kotts - 30 Dec 2022 Form 4 Insider Report for NABORS INDUSTRIES LTD (NBR)

Role: Director
Signature: /s/ Mark D. Andrews by Power of Attorney for John P. Kotts
Issuer symbol: NBR
Transactions as of: 30 Dec 2022
Net transactions value: +$42,482
Form type: 4
Filing time: 03 Jan 2023, 16:50:47 UTC
Previous filing: 15 Dec 2022
Next filing: 17 Feb 2023
SEC: View on sec.gov

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	NBR	Stock Options (Right to Buy)	Award	$42,482	+368		$115.44	368	30 Dec 2022	Common Stock	368	$154.87	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Reporting Person elected to receive stock options in lieu of the quarterly cash payment he would normally receive as a Nabors director. The number of options was determined by dividing the foregone cash payment of $42,500 by the option price on the date of grant calculated in accordance with the Black-Scholes valuation model, or $115.4407 per share. The options are fully vested as of the date of grant, and have an exercise price of $154.87 per share, which is the market price of Nabors' common shares on the date of grant.

Content

The Reporting Person elected to receive stock options in lieu of the quarterly cash payment he would normally receive as a Nabors director. The number of options was determined by dividing the foregone cash payment of $42,500 by the option price on the date of grant calculated in accordance with the Black-Scholes valuation model, or $115.4407 per share. The options are fully vested as of the date of grant, and have an exercise price of $154.87 per share, which is the market price of Nabors' common shares on the date of grant.