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