0001127602-24-000615.txt : 20240103
0001127602-24-000615.hdr.sgml : 20240103
20240103185126
ACCESSION NUMBER: 0001127602-24-000615
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240101
FILED AS OF DATE: 20240103
DATE AS OF CHANGE: 20240103
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: PETRELLO ANTHONY G
CENTRAL INDEX KEY: 0001195669
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-32657
FILM NUMBER: 24508976
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]
ORGANIZATION NAME: 01 Energy & Transportation
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
X0508
4
2024-01-01
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
0
Common Stock
265577
I
Trust
Common Stock
2024-01-01
4
M
0
5016
0
A
94627
D
Common Stock
2024-01-01
4
M
0
13468
0
A
108095
D
Common Stock
2024-01-01
4
F
0
1974
81.63
D
106121
D
Common Stock
2024-01-01
4
F
0
5300
81.63
D
100821
D
Common Stock
2024-01-01
4
A
0
31456
0
A
132277
D
Common Stock
2024-01-02
4
M
0
18428
0
A
150705
D
Common Stock
2024-01-02
4
F
0
7252
80.86
D
143453
D
Common Stock
2024-01-02
4
D
0
41463
0
D
101990
D
2023 Performance Share Units
2024-01-01
4
A
0
15048
0
A
Common Stock
15048
15048
D
2023 Performance Share Units
2024-01-01
4
M
0
5016
0
D
Common Stock
5016
10032
D
2022 Performance Share Units
2024-01-01
4
M
0
13468
0
D
Common Stock
13468
13469
D
2021 Warrants
166.6666
2021-06-11
2026-06-11
Common Stock
170649
170649
I
Trust
2021 Warrants
166.6666
2024-01-02
4
F
0
2901
10.50
D
2021-06-11
2026-06-11
Common Stock
2901
4470
D
2021 Warrants
166.6666
2024-01-02
4
A
0
7371
0
A
2021-06-11
2026-06-11
Common Stock
7371
7371
D
2021 Performance Share Units
2024-01-02
4
M
0
18428
0
D
Common Stock
18428
0
D
Reflects the number of shares vesting on January 1, 2024 in respect of the 15,048 earned and vested Performance restricted stock units originally granted on January 1, 2023.
Reflects the number of shares vesting on January 1, 2024 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, 2024 to satisfy the tax withholding on the vesting and issuance of 5,016 shares of the 15,048 Performance restricted stock units originally granted on January 1, 2023. The remaining 3,042 vested performance shares were retained by Mr. Petrello.
Reflects the number of shares surrendered on January 1, 2024 to satisfy the tax withholding on the vesting and issuance of 13,468 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, 2024 to December 31, 2026) 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 vesting on January 2, 2024 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 2, 2024 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.
Represents the number of TSR shares forfeited on January 2, 2024, out of a total of 41,463 TSR shares originally granted to Mr. Petrello on January 4, 2021, 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, 2021 and ending on December 31, 2023, as determined on December 31, 2023, by the Compensation Committee of the Issuer's Board of Directors (the "Compensation Committee").
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 2023, as determined on December 31, 2023, by the Compensation Committee. 126.5% 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 15,048 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, 2024.
Reflects the number of warrants surrendered on January 2, 2024 to satisfy the tax withholding on the vesting of 7,371 warrants distributed on January 2, 2024 related to vesting of Performance restricted stock units on January 2, 2024 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.
These warrants were earned and distributed in connection with the vesting of Performance restricted stock units on January 2, 2024 by Mr. Petrello pursuant to the terms of the applicable award agreement as determined by the Compensation Committee on December 31, 2023.
/s/ Mark D. Andrews by Power of Attorney for Anthony G. Petrello
2024-01-03