0001127602-23-000686.txt : 20230104 0001127602-23-000686.hdr.sgml : 20230104 20230104182023 ACCESSION NUMBER: 0001127602-23-000686 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230101 FILED AS OF DATE: 20230104 DATE AS OF CHANGE: 20230104 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: PETRELLO ANTHONY G CENTRAL INDEX KEY: 0001195669 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-32657 FILM NUMBER: 23508780 MAIL ADDRESS: STREET 1: NABORS CORP SERVICES STREET 2: 515 W GREENS RD SUITE 1200` CITY: HOUSTON STATE: TX ZIP: 77067 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 2023-01-01 0001163739 NABORS INDUSTRIES LTD NBR 0001195669 PETRELLO ANTHONY G C/O NABORS CORPORATE SERVICES, INC. 515 WEST GREENS ROAD HOUSTON TX 77067 1 1 CHAIRMAN, PRESIDENT & CEO Common Stock 2023-01-01 4 M 0 13469 0 A 132651 D Common Stock 2023-01-01 4 F 0 5301 154.87 D 127350 D Common Stock 2023-01-01 4 A 0 17843 0 A 145193 D Common Stock 2023-01-02 4 F 0 6845 154.87 D 138348 D Common Stock 2023-01-02 4 F 0 6690 154.87 D 131658 D Common Stock 2023-01-02 4 D 0 5921 0 D 125737 D Common Stock 2023-01-02 4 F 0 2848 154.87 D 122889 D Common Stock 2023-01-04 4 M 0 18428 0 A 141317 D Common Stock 2023-01-04 4 F 0 7252 148.55 D 134065 D Common Stock 221123 I Trust 2021 Warrants 166.6666 2021-06-11 2026-06-11 Common Stock 161994 161994 I Trust 2022 Performance Share Units 2023-01-01 4 A 0 40406 0 A Common Stock 40406 40406 D 2022 Performance Share Units 2023-01-01 4 M 0 13469 0 D Common Stock 13469 26937 D 2021 Warrants 166.6666 2023-01-02 4 A 0 6903 0 A 2021-06-11 2026-06-11 Common Stock 6903 6903 D 2021 Warrants 166.6666 2023-01-02 4 F 0 2718 32.90 D 2021-06-11 2026-06-11 Common Stock 2718 4185 D 2021 Performance Share Units 2023-01-04 4 M 0 18428 0 D Common Stock 18428 18428 D 2021 Warrants 166.6666 2023-01-04 4 A 0 7371 0 A 2021-06-11 2026-06-11 Common Stock 7371 11556 D 2021 Warrants 166.6666 2023-01-04 4 F 0 2901 28.00 D 2021-06-11 2026-06-11 Common Stock 2901 8655 D Reflects the number of shares vesting on January 1, 2023 in respect of the 40,406 earned and vested Performance restricted stock units originally granted on January 1, 2022. Reflects the number of shares surrendered on January 1, 2023 to satisfy the tax withholding on the vesting and issuance of 13,469 shares of the 40,406 Performance restricted stock units originally granted on January 1, 2022. The remaining 8,168 vested performance shares were retained by Mr. Petrello. Represents an award of TSR shares that will only vest at the end of a three-year performance period (January 1, 2023 to December 31, 2025) 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, 2023 to satisfy the tax withholding on the vesting of 16,998 shares of the 50,996 Performance shares originally granted on January 2, 2020. The remaining 10,308 vested performance shares were retained by Mr. Petrello. Reflects the number of shares surrendered on January 2, 2023 to satisfy the tax withholding on the vesting of 17,259 Performance restricted stock units of the 51,779 Performance restricted stock units earned on January 2, 2021. The remaining 10,414 vested Performance shares were retained by Mr. Petrello. Represents the number of TSR shares forfeited on January 2, 2023, out of a total of 13,157 TSR shares originally granted to Mr. Petrello on January 2, 2020, 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, 2020 and ending on December 31, 2022, as determined on December 31, 2022, by the Compensation Committee of the Issuer's Board of Directors (the "Compensation Committee"). Reflects the number of shares surrendered on January 2, 2023 to satisfy the tax withholding on the vesting of 7,236 TSR shares earned out of a total of 13,157 TSR shares originally granted to Mr. Petrello on January 2, 2020, 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, 2020 and ending on December 31, 2022, as determined on December 31, 2022 by the Compensation Committee. The remaining 4,388 earned and vested shares were retained by Mr. Petrello. Reflects the number of shares vesting on January 4, 2023 of the 55,284 earned Performance restricted stock units settled in shares originally granted on January 4, 2021. Reflects the number of shares surrendered on January 4, 2023 to satisfy the tax withholding on the vesting of 18,428 shares of the 55,284 Performance restricted stock units originally granted on January 4, 2021. The remaining 11,176 vested shares were retained by Mr. Petrello. Performance restricted stock units convert into common shares on a 1-for-1 basis. 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 2022, as determined on December 31, 2022, by the Compensation Committee. 192.5% 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 37,376 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, 2023. These warrants were earned and distributed in connection with the vesting of Performance restricted stock units on January 2, 2023 by Mr. Petrello pursuant to the terms of the applicable award agreement as determined by the Compensation Committee on December 31, 2022. Reflects the number of warrants surrendered on January 2, 2023 to satisfy the tax withholding on the vesting of 6,903 warrants distributed on January 2, 2023 related to the vesting of Performance restricted stock units on January 2, 2023 by Mr. Petrello and distributed pursuant to the terms of the applicable award agreement. The 4,185 vested warrants remaining were retained by Mr. Petrello. These warrants were earned and distributed in connection with the vesting of Performance restricted stock units on January 4, 2023 by Mr. Petrello pursuant to the terms of the applicable award agreement as determined by the Compensation Committee on December 31, 2022. Reflects the number of warrants surrendered on January 4, 2023 to satisfy the tax withholding on the vesting of 7,371 warrants distributed on January 4, 2023 related to vesting of Performance restricted stock units on January 4, 2023 by Mr. Petrello and distributed pursuant to the terms of the applicable award agreement. The 4,470 vested warrants remaining were retained by Mr. Petrello. /s/ Mark D. Andrews by Power of Attorney for Anthony G. Petrello 2023-01-04