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