William Restrepo - Jan 1, 2023 Form 4 Insider Report for NABORS INDUSTRIES LTD (NBR)

Signature
/s/ Mark D. Andrews by Power of Attorney for William Restrepo
Stock symbol
NBR
Transactions as of
Jan 1, 2023
Transactions value $
-$931,858
Form type
4
Date filed
1/4/2023, 05:26 PM
Previous filing
Feb 24, 2022
Next filing
Jul 13, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NBR Common Stock Options Exercise $0 +2.89K +2.84% $0.00 105K Jan 1, 2023 Direct F1
transaction NBR Common Stock Tax liability -$176K -1.14K -1.09% $154.87 103K Jan 1, 2023 Direct F2
transaction NBR Common Stock Award $0 +10.2K +9.86% $0.00 114K Jan 1, 2023 Direct F3
transaction NBR Common Stock Tax liability -$117K -753 -0.66% $154.87 113K Jan 2, 2023 Direct F4
transaction NBR Common Stock Tax liability -$143K -921 -0.82% $154.87 112K Jan 2, 2023 Direct F5
transaction NBR Common Stock Disposed to Issuer $0 -4.4K -3.93% $0.00 108K Jan 2, 2023 Direct F6
transaction NBR Common Stock Tax liability -$297K -1.92K -1.78% $154.87 106K Jan 2, 2023 Direct F7
transaction NBR Common Stock Options Exercise $0 +3.42K +3.24% $0.00 109K Jan 4, 2023 Direct F8
transaction NBR Common Stock Tax liability -$200K -1.35K -1.23% $148.55 108K Jan 4, 2023 Direct F9

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 2022 Performance Share Units Award $0 +8.66K $0.00 8.66K Jan 1, 2023 Common Stock 8.66K Direct F10, F11
transaction NBR 2022 Performance Share Units Options Exercise $0 -2.89K -33.33% $0.00 5.77K Jan 1, 2023 Common Stock 2.89K Direct F1, F10
transaction NBR 2021 Warrants Award $0 +1.3K +3.2% $0.00 42K Jan 2, 2023 Common Stock 1.3K $166.67 Direct F12
transaction NBR 2021 Performance Share Units Options Exercise $0 -3.42K -50.01% $0.00 3.42K Jan 4, 2023 Common Stock 3.42K Direct F10, F13
transaction NBR 2021 Warrants Award $0 +1.37K +3.26% $0.00 43.4K Jan 4, 2023 Common Stock 1.37K $166.67 Direct F14
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the number of shares vesting on January 1, 2023 in respect of the 8,659 earned and vested Performance units originally granted on January 1, 2022.
F2 Reflects the number of shares surrendered on January 1, 2023 to satisfy the tax withholding on the vesting and issuance of 2,886 shares of the 8,659 Performance restricted stock units originally granted on January 1, 2022. The remaining 1,750 vested shares were retained by the executive.
F3 Represents an award of TSR shares that will only vest at the end of a three-year performance period (January 1, 2023 to December 31, 2025) based on the Issuer's relative total shareholder return as compared to a peer group of companies. The number of shares reported represents the maximum that may be earned, which is 200% of the target number. No number of shares is guaranteed to vest and the actual number of shares that will vest at the end of the performance period may be anywhere from zero to the amount stated.
F4 Reflects the number of shares surrendered on January 2, 2023 to satisfy the tax withholding on the vesting of 2,830 shares of the 8,494 Performance shares originally granted on January 2, 2020. The remaining 2,077 vested shares were retained by Mr. Restrepo.
F5 Reflects the number of shares surrendered on January 2, 2023 to satisfy the tax withholding on the vesting of 3,258 Performance restricted stock units of the 9,776 Performance restricted stock units earned on January 2, 2021. The remaining 2,337 vested Performance shares were retained by Mr. Restrepo.
F6 Represents the number of TSR shares forfeited on January 1, 2023, out of a total of 9,774 TSR shares originally granted to Mr. Restrepo on January 2, 2020, based on the Issuer's relative total shareholder return as compared to a peer group of companies during the three-year performance period beginning on January 1, 2020 and ending on December 31, 2022, as determined on December 31, 2022, by the Compensation Committee of the Issuer's Board of Directors (the "Compensation Committee").
F7 Reflects the number of shares surrendered on January 1, 2023 to satisfy the tax withholding on the vesting of 5,376 TSR shares earned out of a total of 9,774 TSR shares originally granted to Mr. Restrepo on January 2, 2020, based on the Issuer's relative total shareholder return as compared to a peer group of companies during the three-year performance period beginning on January 1, 2020 and ending on December 31, 2022, as determined on December 31, 2022 by the Compensation Committee. The remaining 3,461 earned and vested shares were retained by Mr. Restrepo.
F8 Reflects the number of shares vesting on January 4, 2023 of the 10,267 earned Performance units settled in shares originally granted on January 4, 2021.
F9 Reflects the number of shares surrendered on January 4, 2023 to satisfy the tax withholding on the vesting of 3,423 shares of the 10,267 Performance restricted stock units originally granted on January 4, 2021. The remaining 2,076 vested shares were retained by Mr. Restrepo.
F10 Performance Share Units convert into common shares on a 1-for-1 basis.
F11 These Performance restricted stock units were earned by Mr. Restrepo pursuant to his employment agreement based on the achievement of certain objectives for the year 2022, as determined on December 31, 2022, by the Compensation Committee. 187.0% of the target number of performance restricted stock units granted pursuant to the terms of Mr. Restrepo's employment agreement were determined to have been earned to date. The number reported above reflects the number of earned performance restricted stock units that are payable in share-settled restricted stock units. The remaining 7,533 performance restricted stock units were settled in cash pursuant to the terms of the applicable award agreement. The Performance restricted stock units that settle in shares are scheduled to vest in three (3) equal annual installments beginning on the first anniversary of the date of grant, January 1, 2023.
F12 These warrants were earned in connection with the vesting of Performance restricted stock units on January 2, 2023 by Mr. Restrepo and distributed pursuant to the terms of the applicable award agreements as determined by the Compensation Committee on December 31, 2022.
F13 Reflects the number of shares vesting on January 4, 2023 of the 10,267 earned Performance units settled in shares originally granted on January 4, 2021.
F14 These warrants were earned in connection with the vesting of Performance restricted stock units on January 4, 2023 by Mr. Restrepo and distributed pursuant to the terms of the applicable award agreements as determined by the Compensation Committee on December 31, 2022.