Anthony G. Petrello - 31 Dec 2025 Form 4 Insider Report for NABORS INDUSTRIES LTD (NBR)

Signature
/s/ Mark D. Andrews by Power of Attorney for Anthony G. Petrello
Issuer symbol
NBR
Transactions as of
31 Dec 2025
Net transactions value
-$1,174,563
Form type
4
Filing time
05 Jan 2026, 08:48:21 UTC
Previous filing
03 Jan 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
PETRELLO ANTHONY G CHAIRMAN, PRESIDENT & CEO, Director C/O NABORS CORPORATE SERVICES, INC., 515 WEST GREENS ROAD, HOUSTON /s/ Mark D. Andrews by Power of Attorney for Anthony G. Petrello 05 Jan 2026 0001195669

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NBR Common Stock Gift $0 -18,000 -5.8% $0.000000 294,793 31 Dec 2025 Trust F1
transaction NBR Common Stock Disposed to Issuer $0 -17,843 -19% $0.000000 74,426 31 Dec 2025 Direct F2
transaction NBR Common Stock Options Exercise $0 +5,016 +6.7% $0.000000 79,442 01 Jan 2026 Direct F3
transaction NBR Common Stock Tax liability $107,188 -1,974 -2.5% $54.30 77,468 01 Jan 2026 Direct F4
transaction NBR Common Stock Options Exercise $0 +13,980 +18% $0.000000 91,448 01 Jan 2026 Direct F5
transaction NBR Common Stock Tax liability $298,759 -5,502 -6% $54.30 85,946 01 Jan 2026 Direct F6
transaction NBR Common Stock Options Exercise $0 +19,098 +22% $0.000000 105,044 01 Jan 2026 Direct F7
transaction NBR Common Stock Tax liability $417,730 -7,693 -7.3% $54.30 97,351 01 Jan 2026 Direct F8
transaction NBR Common Stock Options Exercise $0 +16,420 +17% $0.000000 113,771 01 Jan 2026 Direct F9
transaction NBR Common Stock Tax liability $350,887 -6,462 -5.7% $54.30 107,309 01 Jan 2026 Direct F10
transaction NBR Common Stock Award $0 +48,621 +45% $0.000000 155,930 01 Jan 2026 Direct F11

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 Options Exercise $0 -5,016 -100% $0.000000 0 01 Jan 2026 Common Stock 5,016 Direct F3, F12
transaction NBR 2024 Performance Share Units Options Exercise $0 -13,980 -50% $0.000000 13,981 01 Jan 2026 Common Stock 13,980 Direct F5, F12
transaction NBR 2025 Performance Share Units Award $0 +57,293 $0.000000 57,293 01 Jan 2026 Common Stock 57,293 Direct F12, F13
transaction NBR 2025 Performance Share Units Options Exercise $0 -19,098 -33% $0.000000 38,195 01 Jan 2026 Common Stock 19,098 Direct F7, F12
transaction NBR 2023 Long Term Performance Share Units Award $0 +16,420 $0.000000 16,420 01 Jan 2026 Common Stock 16,420 Direct F12, F14
transaction NBR 2023 Long Term Performance Share Units Options Exercise $0 -16,420 -100% $0.000000 0 01 Jan 2026 Common Stock 16,420 Direct F9, F12
holding NBR 2021 Warrants 4,470 31 Dec 2025 Common Stock 4,470 $166.67 Direct
holding NBR 2021 Warrants 170,649 31 Dec 2025 Common Stock 170,649 $166.67 Trust
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares were donated to a charitable foundation for which Mr. Petrello has shared voting and dispositive power. Mr. Petrello disclaims beneficial ownership of the shares held by the charitable foundation.
F2 Represents the number of TSR shares forfeited on December 31, 2025, out of a total of 17,843 TSR shares originally granted to Mr. Petrello on January 1, 2023, 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, 2023 and ending on December 31, 2025, as determined on December 31, 2025, by the Compensation Committee of the Issuer's Board of Directors (the "Compensation Committee").
F3 Reflects the number of shares vesting on January 1, 2026 in respect of the 15,048 earned and vested Performance restricted stock units originally granted on January 1, 2023.
F4 Reflects the number of shares surrendered on January 1, 2026 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.
F5 Reflects the number of shares vesting on January 1, 2026 in respect of the 41,942 earned and vested Performance restricted stock units originally granted on January 1, 2024.
F6 Reflects the number of shares surrendered on January 1, 2026 to satisfy the tax withholding on the vesting and issuance of 13,980 shares of the 41,942 Performance restricted stock units originally granted on January 1, 2024. The remaining 8,478 vested performance shares were retained by Mr. Petrello.
F7 Reflects the number of shares vesting on January 1, 2026 in respect of the 57,293 earned and vested Performance restricted stock units originally granted on January 1, 2025.
F8 Reflects the number of shares surrendered on January 1, 2026 to satisfy the tax withholding on the vesting and issuance of 19,098 shares of the 57,293 Performance restricted stock units originally granted on January 1, 2025. The remaining 11,405 vested performance shares were retained by Mr. Petrello.
F9 Represents the aggregate number of Long Term 2023 Performance restricted stock units originally granted on May 18, 2023, the vesting of which was subject to the achievement of certain ROIC performance criteria, that have been earned as a result of the achievement of the applicable performance criteria. All of such shares have fully vested as of January 1, 2026.
F10 Reflects the number of shares surrendered on January 1, 2026 to satisfy the tax withholding on the vesting and issuance of 16,420 shares of the 2023 Long Term Performance restricted stock units originally granted on May 18, 2023. The remaining 9,958 vested performance shares were retained by Mr. Petrello.
F11 Represents an award of TSR shares that will only vest at the end of a three-year performance period (January 1, 2026 to December 31, 2028) 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.
F12 Performance restricted stock units convert into common shares on a 1-for-1 basis.
F13 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 2025, as determined on December 31, 2025, by the Compensation Committee. 191.78% 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 52,578 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, 2026.
F14 On May 18, 2023, the Reporting Person was granted Performance restricted stock units, the vesting of which is subject to the achievement of certain ROIC performance criteria during the three-year performance period beginning on January 1, 2023 and ending on December 31, 2025. The number of shares reported in this line item represents the number of Performance restricted stock units that were earned as a result of the achievement of such performance criteria.