Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based compensation disclosures

Schedule of stock option transactions under various stock-based employee compensation plans

				Weighted-
		Weighted-		Average
		Average		Remaining		Aggregate
		Exercise		Contractual		Intrinsic
Options	Shares	Price		Term		Value
	(In thousands, except exercise price)
Options outstanding as of December 31, 2019	33	$	638.63
Surrendered	(1)		964.17
Forfeited	(1)		718.53
Options outstanding as of December 31, 2020	31	$	628.10	3.40	years	$	—
Options exercisable as of December 31, 2020	31	$	628.10	3.40	years	$	—

Schedule of grant date fair value

	2019		2018
Weighted average fair value of options granted	$	53.50	$	87.50
Weighted average risk free interest rate		1.79%		2.59%
Dividend yield		1.65%		3.03%
Volatility (1)		57.59%		57.11%
Expected life (in years)		4.0		4.0

(1) Expected volatilities are based on implied volatilities from publicly traded options to purchase Nabors' common shares, historical volatility of Nabors' common shares and other factors.

Schedule of outstanding PSUs

The following table sets forth information regarding outstanding PSUs based on performance conditions as of December 31, 2020:

		Weighted-Average
		Grant-Date Fair
Restricted Stock Units	Outstanding	Value
	(In thousands, except fair value)
Outstanding as of December 31, 2019	—	$	—
Granted	31		148.00
Outstanding as of December 31, 2020	31	$	148.00

Restricted Stock

Share-based compensation disclosures

Schedule of unvested restricted stock

		Weighted-Average
		Grant-Date Fair
Restricted shares	Outstanding	Value
	(In thousands, except fair value)
Unvested as of December 31, 2019	98	$	270.27
Granted	4		35.27
Vested	(45)		298.17
Forfeited	(8)		262.06
Unvested as of December 31, 2020	49	$	226.06

Restricted Stock Based on Performance Conditions

Share-based compensation disclosures

Schedule of unvested restricted stock

		Weighted-Average
		Grant-Date Fair
Performance based restricted shares	Outstanding	Value
	(In thousands, except fair value)
Outstanding as of December 31, 2019	65	$	223.39
Granted	59		148.00
Vested	(26)		276.85
Outstanding as of December 31, 2020	98	$	163.74

Restricted Stock Based on Market Conditions

Share-based compensation disclosures

Schedule of grant date fair value

		Year Ended December 31,
	2020		2019		2018
Risk free interest rate		1.57%		2.48%		2.02%
Expected volatility		74.00%		70.00%		57.00%
Closing stock price at grant date	$	148.00	$	109.50	$	343.50
Expected term (in years)		3.0		3.0		3.0

Schedule of unvested restricted stock

		Weighted-Average
		Grant-Date Fair
Market based restricted shares	Outstanding	Value
	(In thousands, except fair value)
Outstanding as of December 31, 2019	64	$	142.00
Granted	23		111.00
Vested	(3)		558.12
Forfeited	(5)		558.12
Outstanding as of December 31, 2020	79	$	91.34