0001127602-22-000692.txt : 20220104 0001127602-22-000692.hdr.sgml : 20220104 20220104210030 ACCESSION NUMBER: 0001127602-22-000692 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20211231 FILED AS OF DATE: 20220104 DATE AS OF CHANGE: 20220104 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Restrepo William J CENTRAL INDEX KEY: 0001334321 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-32657 FILM NUMBER: 22508510 MAIL ADDRESS: STREET 1: P.O. BOX 60068 CITY: HOUSTON STATE: TX ZIP: 77205-0068 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: NABORS INDUSTRIES LTD CENTRAL INDEX KEY: 0001163739 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 980363970 STATE OF INCORPORATION: D0 FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: CROWN HOUSE STREET 2: 4 PAR-LA-VILLE ROAD SECOND FLOOR CITY: HAMILTON, HM08 STATE: D0 ZIP: 0000 BUSINESS PHONE: 4412921510 MAIL ADDRESS: STREET 1: P O BOX HM3349 CITY: HAMILTON, HMPX STATE: D0 ZIP: 0000 4 1 form4.xml PRIMARY DOCUMENT X0306 4 2021-12-31 0001163739 NABORS INDUSTRIES LTD NBR 0001334321 Restrepo William J C/O NABORS CORPORATE SERVICES, INC. 515 W. GREENS RD., SUITE 1200 HOUSTON TX 77067 1 Chief Financial Officer Common Stock 2021-12-31 4 D 0 5179 0 D 86168 D Common Stock 2021-12-31 4 F 0 2039 81.09 D 84129 D Common Stock 2022-01-01 4 A 0 17317 0 A 101446 D Common Stock 2022-01-02 4 F 0 714 81.09 D 100732 D Common Stock 2022-01-02 4 F 0 910 81.09 D 99822 D Common Stock 2022-01-04 4 M 0 3422 0 A 103244 D Common Stock 2022-01-04 4 F 0 873 97.52 D 102371 D 2021 Performance Share Units 2022-01-04 4 A 0 10267 0 A Common Stock 10267 10267 D 2021 Performance Share Units 2022-01-04 4 M 0 3422 0 D Common Stock 3422 6845 D 2021 Warrants 166.6666 2022-01-04 4 A 0 4655 0 A 2021-06-11 2026-06-11 Common Stock 4655 38586 D Represents the number of TSR shares forfeited on December 31, 2021, out of a total of 10,358 TSR shares originally granted to Mr. Restrepo on January 2, 2019, 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, 2019 and ending on December 31, 2021, as determined on December 31, 2021, by the Compensation Committee of the Issuer's Board of Directors(the "Compensation Committee"). Reflects the number of shares surrendered on December 31, 2021 to satisfy the tax withholding on the vesting of 5,179 TSR shares earned out of a total of 10,358 shares originally granted to Mr. Restrepo on January 2, 2019, 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, 2019 and ending on December 31, 2021, as determined on December 31, 2021 by the Compensation Committee. The remaining 3,140 earned and vested shares were retained by the executive. Represents an award of TSR shares that will only vest at the end of a three-year performance period (January 1, 2022 to December 31, 2024) 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. Reflects the number of shares surrendered on January 2, 2022 to satisfy the tax withholding on the vesting of 2,832 shares of the 8,494 Performance shares originally granted on January 2, 2020. The remaining 2,118 vested shares were retained by the executive. Reflects the number of shares surrendered on January 2, 2022 to satisfy the tax withholding on the vesting of 3,259 Performance restricted stock units of the 9,776 Performance restricted stock units earned on January 2, 2021. The remaining 2,349 vested Performance shares were retained by the executive. Reflects the number of shares vesting on January 4, 2022 of the 10,267 earned Performance units settled in shares originally granted on January 4, 2021. Reflects the number of shares surrendered on January 4, 2022 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 2,549 vested shares were retained by the executive. Performance Share Units convert into common shares on a 1-for-1 basis. 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 2021, as determined on December 31, 2021, by the Compensation Committee. 180% 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 8,214 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 4, 2022. Represents warrants that were originally issued on June 11, 2021 as a distribution to all holders of common shares. Each warrant entitles the holder to purchase one common share (plus an incentive share fraction, if any) at an exercise price of $166.66667 per warrant, subject to certain adjustments. 4,655 of the reported warrants were distributed in connection with the Performance restricted stock units earned by Mr. Restrepo as determined on December 31, 2021 by the Compensation Committee and which have vested. /s/ Mark D. Andrews by Power of Attorney for William Restrepo 2022-01-04