Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Compensation

Schedule of stock option transactions

				Weighted-
		Weighted-		Average
		Average		Remaining		Aggregate
		Exercise		Contractual		Intrinsic
Options	Shares	Price		Term		Value
	(In thousands, except exercise price and term)
Options outstanding as of December 31, 2022	16	$	391.76
Expired	—		817.91
Options outstanding as of December 31, 2023	16	$	362.76	4.22	years	$	—
Options exercisable as of December 31, 2023	16	$	362.76	4.22	years	$	—

Schedule of valuation assumptions used to estimate the fair value of stock options

	2022		2021
Weighted average fair value of options granted	$	111.23	$	72.69
Weighted average risk free interest rate		3.69%		0.72%
Dividend yield		0.00%		0.00%
Volatility (1)		111.5%		102.5%
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 changes in unvested restricted stock

		Weighted-Average
		Grant-Date Fair
Restricted shares	Outstanding	Value
	(In thousands, except fair value)
Unvested as of December 31, 2022	163	$	126.26
Granted	103		160.49
Vested	(62)		135.53
Forfeited	(19)		142.76
Unvested as of December 31, 2023	185	$	140.56

Performance based restricted shares

Share-Based Compensation

Schedule of changes in restricted shares

		Weighted-Average
		Grant-Date Fair
Performance based restricted shares	Outstanding	Value
	(In thousands, except fair value)
Outstanding as of December 31, 2022	20	$	148.00
Vested	(20)		148.00
Outstanding as of December 31, 2023	—	$	—

Performance based restricted stock units

Share-Based Compensation

Schedule of changes in restricted shares

		Weighted-Average
		Grant-Date Fair
Restricted Stock Units	Outstanding	Value
	(In thousands, except fair value)
Outstanding as of December 31, 2022	113	$	85.31
Granted	61		121.61
Vested	(59)		96.85
Forfeited	(12)		146.36
Outstanding as of December 31, 2023	103	$	92.84

Restricted shares based on market conditions

Share-Based Compensation

Schedule of valuation assumptions used to estimate the fair value of restricted stock

		Year Ended December 31,
	2023		2022		2021
Risk free interest rate		4.13%		1.03%		0.18%
Expected volatility		94.00%		92.00%		108.00%
Closing stock price at grant date	$	154.87	$	81.09	$	60.62
Expected term (in years)		3.0		3.0		3.0

Schedule of changes in restricted shares

		Weighted-Average
		Grant-Date Fair
Market based restricted shares	Outstanding	Value
	(In thousands, except fair value)
Outstanding as of December 31, 2022	133	$	53.03
Granted	30		92.35
Vested	(13)		111.00
Forfeited	(73)		45.58
Outstanding as of December 31, 2023	77	$	65.62