Anthony G. Petrello - Jan 1, 2024 Form 4 Insider Report for NABORS INDUSTRIES LTD (NBR)

Signature
/s/ Mark D. Andrews by Power of Attorney for Anthony G. Petrello
Stock symbol
NBR
Transactions as of
Jan 1, 2024
Transactions value $
-$1,210,634
Form type
4
Date filed
1/3/2024, 06:51 PM
Previous filing
Dec 19, 2023
Next filing
Jun 26, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NBR Common Stock Options Exercise $0 +5.02K +5.6% $0.00 94.6K Jan 1, 2024 Direct F1
transaction NBR Common Stock Options Exercise $0 +13.5K +14.23% $0.00 108K Jan 1, 2024 Direct F2
transaction NBR Common Stock Tax liability -$161K -1.97K -1.83% $81.63 106K Jan 1, 2024 Direct F3
transaction NBR Common Stock Tax liability -$433K -5.3K -4.99% $81.63 101K Jan 1, 2024 Direct F4
transaction NBR Common Stock Award $0 +31.5K +31.2% $0.00 132K Jan 1, 2024 Direct F5
transaction NBR Common Stock Options Exercise $0 +18.4K +13.93% $0.00 151K Jan 2, 2024 Direct F6
transaction NBR Common Stock Tax liability -$586K -7.25K -4.81% $80.86 143K Jan 2, 2024 Direct F7
transaction NBR Common Stock Disposed to Issuer $0 -41.5K -28.9% $0.00 102K Jan 2, 2024 Direct F8
holding NBR Common Stock 266K Jan 1, 2024 Trust

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 2023 Performance Share Units Award $0 +15K $0.00 15K Jan 1, 2024 Common Stock 15K Direct F9, F10
transaction NBR 2023 Performance Share Units Options Exercise $0 -5.02K -33.33% $0.00 10K Jan 1, 2024 Common Stock 5.02K Direct F1, F9
transaction NBR 2022 Performance Share Units Options Exercise $0 -13.5K -50% $0.00 13.5K Jan 1, 2024 Common Stock 13.5K Direct F2, F9
transaction NBR 2021 Warrants Tax liability -$30.5K -2.9K -39.36% $10.50 4.47K Jan 2, 2024 Common Stock 2.9K $166.67 Direct F11
transaction NBR 2021 Warrants Award $0 +7.37K $0.00 7.37K Jan 2, 2024 Common Stock 7.37K $166.67 Direct F12
transaction NBR 2021 Performance Share Units Options Exercise $0 -18.4K -100% $0.00* 0 Jan 2, 2024 Common Stock 18.4K Direct F6, F9
holding NBR 2021 Warrants 171K Jan 1, 2024 Common Stock 171K $166.67 Trust
* 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, 2024 in respect of the 15,048 earned and vested Performance restricted stock units originally granted on January 1, 2023.
F2 Reflects the number of shares vesting on January 1, 2024 in respect of the 40,406 earned and vested Performance restricted stock units originally granted on January 1, 2022.
F3 Reflects the number of shares surrendered on January 1, 2024 to satisfy the tax withholding on the vesting and issuance of 5,016 shares of the 15,048 Performance restricted stock units originally granted on January 1, 2023. The remaining 3,042 vested performance shares were retained by Mr. Petrello.
F4 Reflects the number of shares surrendered on January 1, 2024 to satisfy the tax withholding on the vesting and issuance of 13,468 shares of the 40,406 Performance restricted stock units originally granted on January 1, 2022. The remaining 8,168 vested performance shares were retained by Mr. Petrello.
F5 Represents an award of TSR shares that will only vest at the end of a three-year performance period (January 1, 2024 to December 31, 2026) 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.
F6 Reflects the number of shares vesting on January 2, 2024 of the 55,284 earned Performance restricted stock units settled in shares originally granted on January 4, 2021.
F7 Reflects the number of shares surrendered on January 2, 2024 to satisfy the tax withholding on the vesting of 18,428 shares of the 55,284 Performance restricted stock units originally granted on January 4, 2021. The remaining 11,176 vested shares were retained by Mr. Petrello.
F8 Represents the number of TSR shares forfeited on January 2, 2024, out of a total of 41,463 TSR shares originally granted to Mr. Petrello on January 4, 2021, 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, 2021 and ending on December 31, 2023, as determined on December 31, 2023, by the Compensation Committee of the Issuer's Board of Directors (the "Compensation Committee").
F9 Performance restricted stock units convert into common shares on a 1-for-1 basis.
F10 These Performance restricted stock units were earned by Mr. Petrello pursuant to his employment agreement based on the achievement of certain objectives for the year 2023, as determined on December 31, 2023, by the Compensation Committee. 126.5% of the target number of performance restricted stock units granted pursuant to the terms of Mr. Petrello's employment agreement were determined to have been earned. The number reported above reflects the number of earned performance restricted stock units that are payable in share-settled restricted stock units. The remaining 15,048 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, 2024.
F11 Reflects the number of warrants surrendered on January 2, 2024 to satisfy the tax withholding on the vesting of 7,371 warrants distributed on January 2, 2024 related to vesting of Performance restricted stock units on January 2, 2024 by Mr. Petrello and distributed pursuant to the terms of the applicable award agreement. The 4,470 vested warrants remaining were retained by Mr. Petrello.
F12 These warrants were earned and distributed in connection with the vesting of Performance restricted stock units on January 2, 2024 by Mr. Petrello pursuant to the terms of the applicable award agreement as determined by the Compensation Committee on December 31, 2023.