William Restrepo - Jan 1, 2024 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, 2024
Transactions value $
-$226,901
Form type
4
Date filed
1/3/2024, 06:57 PM
Previous filing
Dec 19, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NBR Common Stock Options Exercise $0 +1.08K +1% $0.00 109K Jan 1, 2024 Direct F1
transaction NBR Common Stock Options Exercise $0 +2.89K +2.65% $0.00 112K Jan 1, 2024 Direct F2
transaction NBR Common Stock Tax liability -$77.7K -952 -0.85% $81.63 111K Jan 1, 2024 Direct F3
transaction NBR Common Stock Award $0 +18K +16.23% $0.00 129K Jan 1, 2024 Direct F4
transaction NBR Common Stock Tax liability -$34.6K -424 -0.33% $81.63 128K Jan 1, 2024 Direct F5
transaction NBR Common Stock Disposed to Issuer $0 -20.5K -16.01% $0.00 108K Jan 2, 2024 Direct F6
transaction NBR Common Stock Options Exercise $0 +3.42K +3.18% $0.00 111K Jan 2, 2024 Direct F7
transaction NBR Common Stock Tax liability -$109K -1.35K -1.21% $80.86 110K Jan 2, 2024 Direct F8

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 +3.23K $0.00 3.23K Jan 1, 2024 Common Stock 3.23K Direct F9, F10
transaction NBR 2023 Performance Share Units Options Exercise $0 -1.08K -33.33% $0.00 2.15K Jan 1, 2024 Common Stock 1.08K Direct F1, F9
transaction NBR 2022 Performance Share Units Options Exercise $0 -2.89K -50.01% $0.00 2.89K Jan 1, 2024 Common Stock 2.89K Direct F2, F9
transaction NBR 2021 Warrants Award $0 +1.37K +3.16% $0.00 44.8K Jan 2, 2024 Common Stock 1.37K $166.67 Direct F11
transaction NBR 2021 Warrants Tax liability -$5.66K -539 -1.2% $10.50 44.2K Jan 2, 2024 Common Stock 539 $166.67 Direct F12
transaction NBR 2021 Performance Share Units Options Exercise $0 -3.42K -100% $0.00* 0 Jan 2, 2024 Common Stock 3.42K Direct F7, F9
* 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 3,225 earned and vested Performance units originally granted on January 1, 2023.
F2 Reflects the number of shares vesting on January 1, 2024 in respect of the 8,659 earned and vested Performance 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 2,887 shares of the 8,659 Performance restricted stock units originally granted on January 1, 2022. The remaining 1,935 vested shares were retained by the executive.
F4 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.
F5 Reflects the number of shares surrendered on January 1, 2024 to satisfy the tax withholding on the vesting and issuance of 1,075 shares of the 3,225 Performance restricted stock units originally granted on January 1, 2023. The remaining 651 vested shares were retained by the executive.
F6 Represents the number of TSR shares forfeited on January 2, 2024, out of a total of 20,534 TSR shares originally granted to Mr. Restrepo 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").
F7 Reflects the number of shares vesting on January 2, 2024 of the 10,267 earned Performance units settled in shares originally granted on January 4, 2021.
F8 Reflects the number of shares surrendered on January 2, 2024 to satisfy the tax withholding on the vesting of 3,422 shares of the 10,267 Performance restricted stock units originally granted on January 4, 2021. The remaining 2,075 vested shares were retained by Mr. Restrepo.
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. Restrepo 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. 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 3,224 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 These warrants were earned in connection with the vesting of Performance restricted stock units on January 2, 2024 by Mr. Restrepo and distributed pursuant to the terms of the applicable award agreements as determined by the Compensation Committee on December 31, 2023.
F12 Reflects the number of warrants surrendered on January 2, 2024 to satisfy the tax withholding on the vesting of 1,369 warrants distributed on January 2, 2024 related to vesting of Performance restricted stock units on January 2, 2024 by Mr. Restrepo and distributed pursuant to the terms of the applicable award agreement. The 830 vested warrants remaining were retained by Mr. Restrepo.