Key facts
- This page summarizes William J. Restrepo's Form 4 filing for Nabors Energy Transition Corp..
- 3 reported transactions and 2 derivative rows are listed below.
- Accepted by SEC: 19 Dec 2023, 20:41.
William J. Restrepo - 14 Dec 2023 Form 4 Insider Report for Nabors Energy Transition Corp.
- Reporting relationship
- Chief Financial Officer
- Issuer ticker
- N/A
- Reported as of
- 14 Dec 2023
- Net transaction value
- -$16,485
- SEC form
- 4
- Accepted by SEC
- 19 Dec 2023, 20:41:14 UTC
- Prior SEC filing
- 18 Jul 2023
- Next SEC filing
- 03 Jan 2024
- Source filing
- View source filing
- Reporting owner signature
- By: /s/ William J. Restrepo, by Michael Rasmuson as Attorney-in-Fact
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
William J. Restrepo filed Form 4 for Nabors Energy Transition Corp. on 19 Dec 2023.
Change
- Previous filing in this sequence was filed on 18 Jul 2023.
- Current net transaction value: -$16,485.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
NETC
transaction
Class A Common Stock
Disposed to Issuer
- Transaction value
- $16,485
- Shares
- -1,500
- Change %
- -100%
- Price
- $10.99
- Shares after
- 0
- Date
- 18 Dec 2023
- Ownership
- By child
- Footnotes
- F4, F5
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
NETC
transaction
Derivative
Class F Common Stock
Gift
- Transaction value
- Shares
- -71,200
- Change %
- -39%
- Price
- Shares after
- 112,604
- Date
- 14 Dec 2023
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 71,200
- Exercise price
- Footnotes
- F1, F2
NETC
transaction
Derivative
Class F Common Stock
Disposed to Issuer
- Transaction value
- Shares
- -112,604
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 18 Dec 2023
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 41,404
- Exercise price
- Footnotes
- F1, F3
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Section 16 status
William J. Restrepo is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.
Explanation of responses 5 footnotes
Footnote F1
The shares of the Issuer's Class F common stock, par value $0.0001 per share ("NETC Class F Common Stock"), are automatically convertible into shares of the Issuer's Class B common stock, par value $0.0001 per share ("NETC Class B Common Stock") at the time of the Issuer's initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, and have no expiration date. Prior to and following the Issuer's initial business combination, the shares of NETC Class B Common Stock will be convertible, at the option of the holder, into shares of the Issuer's Class A common stock, par value $0.0001 per share.
Footnote F2
On December 14, 2023, Nabors Energy Transition Sponsor LLC effectuated a pro rata distribution of 4,325,000 of its shares of NETC Class F Common Stock, of which 1,946,250 shares were distributed to Greens Road Energy LLC ("Greens Road," and such distribution, the "Sponsor Distribution"). Following the Sponsor Distribution, Greens Road effectuated a pro rata distribution to its members, including the Reporting Person, pursuant to which the Reporting Person received 183,604 shares. On December 14, 2023, the Reporting Person made a bona fide gift for no consideration of 71,200 shares of the Issuer's Class F Common Stock.
Footnote F3
In connection with the closing of the business combination (the "Business Combination") between the Issuer, Vast Renewables Limited ("Vast"), Neptune Merger Sub, Inc. ("Merger Sub"), the Sponsor and Nabors on December 18, 2023, whereby, among other things, Merger Sub merged with and into the Issuer and each share of NETC Class F Common Stock, was exchanged for a number of ordinary shares of Vast equal to the Exchange Ratio (as defined in the Business Combination Agreement, dated as of February 14, 2023, by and among the Issuer, Merger Sub, Vast, the Sponsor and Nabors, as amended), each share of NETC Class F Common Stock was automatically cancelled and ceased to exist.
Footnote F4
In connection with the closing of the Business Combination, the shares of NETC Class A Common Stock were redeemed for a cash price of $10.99 per share.
Footnote F5
The Reporting Person disclaims beneficial ownership of all shares of NETC Class A Common Stock reported, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.