0001127602-24-000621.txt : 20240103
0001127602-24-000621.hdr.sgml : 20240103
20240103185731
ACCESSION NUMBER: 0001127602-24-000621
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: Restrepo William J
CENTRAL INDEX KEY: 0001334321
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-32657
FILM NUMBER: 24509023
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]
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
0001334321
Restrepo William J
C/O NABORS CORPORATE SERVICES, INC.
515 W. GREENS RD., SUITE 1200
HOUSTON
TX
77067
1
Chief Financial Officer
0
Common Stock
2024-01-01
4
M
0
1075
0
A
108808
D
Common Stock
2024-01-01
4
M
0
2887
0
A
111695
D
Common Stock
2024-01-01
4
F
0
952
81.63
D
110743
D
Common Stock
2024-01-01
4
A
0
17975
0
A
128718
D
Common Stock
2024-01-01
4
F
0
424
81.63
D
128294
D
Common Stock
2024-01-02
4
D
0
20534
0
D
107760
D
Common Stock
2024-01-02
4
M
0
3422
0
A
111182
D
Common Stock
2024-01-02
4
F
0
1347
80.86
D
109835
D
2023 Performance Share Units
2024-01-01
4
A
0
3225
0
A
Common Stock
3225
3225
D
2023 Performance Share Units
2024-01-01
4
M
0
1075
0
D
Common Stock
1075
2150
D
2022 Performance Share Units
2024-01-01
4
M
0
2887
0
D
Common Stock
2887
2886
D
2021 Warrants
166.6666
2024-01-02
4
A
0
1369
0
A
2021-06-11
2026-06-11
Common Stock
1369
44751
D
2021 Warrants
166.6666
2024-01-02
4
F
0
539
10.50
D
2021-06-11
2026-06-11
Common Stock
539
44212
D
2021 Performance Share Units
2024-01-02
4
M
0
3422
0
D
Common Stock
3422
0
D
Reflects the number of shares vesting on January 1, 2024 in respect of the 3,225 earned and vested Performance units originally granted on January 1, 2023.
Reflects the number of shares vesting on January 1, 2024 in respect of the 8,659 earned and vested Performance 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 2,887 shares of the 8,659 Performance restricted stock units originally granted on January 1, 2022. The remaining 1,935 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, 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 surrendered on January 1, 2024 to satisfy the tax withholding on the vesting and issuance of 1,075 shares of the 3,225 Performance restricted stock units originally granted on January 1, 2023. The remaining 651 vested shares were retained by the executive.
Represents the number of TSR shares forfeited on January 2, 2024, out of a total of 20,534 TSR shares originally granted to Mr. Restrepo 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").
Reflects the number of shares vesting on January 2, 2024 of the 10,267 earned Performance 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 3,422 shares of the 10,267 Performance restricted stock units originally granted on January 4, 2021. The remaining 2,075 vested shares were retained by Mr. Restrepo.
Performance restricted stock 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 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. 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 3,224 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.
These warrants were earned in connection with the vesting of Performance restricted stock units on January 2, 2024 by Mr. Restrepo and distributed pursuant to the terms of the applicable award agreements as determined by the Compensation Committee on December 31, 2023.
Reflects the number of warrants surrendered on January 2, 2024 to satisfy the tax withholding on the vesting of 1,369 warrants distributed on January 2, 2024 related to vesting of Performance restricted stock units on January 2, 2024 by Mr. Restrepo and distributed pursuant to the terms of
the applicable award agreement. The 830 vested warrants remaining were retained by Mr. Restrepo.
/s/ Mark D. Andrews by Power of Attorney for William Restrepo
2024-01-03