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