Key facts
- This page summarizes Anthony G. Petrello's Form 4 filing for Nabors Energy Transition Corp..
- 1 reported transaction and 1 derivative row are listed below.
- Accepted by SEC: 19 Dec 2023, 20:48.
Anthony G. Petrello - 18 Dec 2023 Form 4 Insider Report for Nabors Energy Transition Corp.
- Reporting relationship
- President, CEO and Secretary, Director, 10%+ Owner
- Issuer ticker
- N/A
- Reported as of
- 18 Dec 2023
- Net transaction value
- $0
- SEC form
- 4
- Accepted by SEC
- 19 Dec 2023, 20:48:15 UTC
- Prior SEC filing
- 28 Aug 2023
- Next SEC filing
- 03 Jan 2024
- Source filing
- View source filing
- Reporting owner signature
- By: /s/ Anthony G. Petrello, 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
Anthony G. Petrello filed Form 4 for Nabors Energy Transition Corp. on 19 Dec 2023.
Change
- Previous filing in this sequence was filed on 28 Aug 2023.
- Current net transaction value: $0.
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 derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
NETC
transaction
Derivative
Class F Common Stock
Disposed to Issuer
- Transaction value
- Shares
- -5,577,901
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 18 Dec 2023
- Ownership
- See Footnote
- Underlying class
- Class A Common Stock
- Underlying amount
- 5,577,901
- Exercise price
- Footnotes
- F1, F2, F3, F4
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Section 16 status
Anthony G. Petrello is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.
Explanation of responses 4 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
Nabors Energy Transition Sponsor LLC ("NETC Sponsor") is owned by Nabors Lux 2 S.a.r.l. ("Nabors Lux") and Greens Road Energy LLC, a Delaware limited liability company ("Greens Road"). Nabors Lux 2 S.a.r.l. is a wholly owned subsidiary of Nabors Industries Ltd. ("Nabors"). Mr. Petrello is the Chairman, President and Chief Executive Officer of Nabors. Greens Road is controlled by Mr. Petrello. As such, Mr. Petrello may be deemed to have or share beneficial ownership of the common stock held directly by NETC Sponsor, Nabors Lux and Greens Road. Mr. Petrello disclaims any beneficial ownership of securities held by NETC Sponsor, Nabors Lux and Greens Road other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
Footnote F3
On December 14, 2023, Sponsor effectuated a pro rata distribution of 4,325,000 of its shares of NETC Class F Common Stock, of which 1,946,250 were distributed to Greens Road and 2,378,750 were distributed to Nabors Lux. (the "Sponsor Distribution). After giving effect to the Sponsor Distribution, Sponsor is the direct record holder of 2,400,000 shares of Class F Common Stock. Following the Sponsor Distribution, Greens Road distributed the shares it received in the Sponsor Distribution to its members, pursuant to which the Reporting Person received 799,151 shares of Class F Common Stock.
Footnote F4
The shares reported herein were disposed of in transactions 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, including the merger described herein.