Anthony G. Petrello - Jan 1, 2023 Form 4 Insider Report for NABORS INDUSTRIES LTD (NBR)

Signature
/s/ Mark D. Andrews by Power of Attorney for Anthony G. Petrello
Stock symbol
NBR
Transactions as of
Jan 1, 2023
Transactions value $
-$4,606,136
Form type
4
Date filed
1/4/2023, 05:20 PM
Previous filing
Feb 24, 2022
Next filing
Jul 13, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NBR Common Stock Options Exercise $0 +13.5K +11.3% $0.00 133K Jan 1, 2023 Direct F1
transaction NBR Common Stock Tax liability -$821K -5.3K -4% $154.87 127K Jan 1, 2023 Direct F2
transaction NBR Common Stock Award $0 +17.8K +14.01% $0.00 145K Jan 1, 2023 Direct F3
transaction NBR Common Stock Tax liability -$1.06M -6.85K -4.71% $154.87 138K Jan 2, 2023 Direct F4
transaction NBR Common Stock Tax liability -$1.04M -6.69K -4.84% $154.87 132K Jan 2, 2023 Direct F5
transaction NBR Common Stock Disposed to Issuer $0 -5.92K -4.5% $0.00 126K Jan 2, 2023 Direct F6
transaction NBR Common Stock Tax liability -$441K -2.85K -2.27% $154.87 123K Jan 2, 2023 Direct F7
transaction NBR Common Stock Options Exercise $0 +18.4K +15% $0.00 141K Jan 4, 2023 Direct F8
transaction NBR Common Stock Tax liability -$1.08M -7.25K -5.13% $148.55 134K Jan 4, 2023 Direct F9
holding NBR Common Stock 221K Jan 1, 2023 Trust

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NBR 2022 Performance Share Units Award $0 +40.4K $0.00 40.4K Jan 1, 2023 Common Stock 40.4K Direct F10, F11
transaction NBR 2022 Performance Share Units Options Exercise $0 -13.5K -33.33% $0.00 26.9K Jan 1, 2023 Common Stock 13.5K Direct F1, F10
transaction NBR 2021 Warrants Award $0 +6.9K $0.00 6.9K Jan 2, 2023 Common Stock 6.9K $166.67 Direct F12
transaction NBR 2021 Warrants Tax liability -$89.4K -2.72K -39.37% $32.90 4.19K Jan 2, 2023 Common Stock 2.72K $166.67 Direct F13
transaction NBR 2021 Performance Share Units Options Exercise $0 -18.4K -50% $0.00 18.4K Jan 4, 2023 Common Stock 18.4K Direct F8, F10
transaction NBR 2021 Warrants Award $0 +7.37K +176.13% $0.00 11.6K Jan 4, 2023 Common Stock 7.37K $166.67 Direct F14
transaction NBR 2021 Warrants Tax liability -$81.2K -2.9K -25.1% $28.00* 8.66K Jan 4, 2023 Common Stock 2.9K $166.67 Direct F15
holding NBR 2021 Warrants 162K Jan 1, 2023 Common Stock 162K $166.67 Trust
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the number of shares vesting on January 1, 2023 in respect of the 40,406 earned and vested Performance restricted stock units originally granted on January 1, 2022.
F2 Reflects the number of shares surrendered on January 1, 2023 to satisfy the tax withholding on the vesting and issuance of 13,469 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.
F3 Represents an award of TSR shares that will only vest at the end of a three-year performance period (January 1, 2023 to December 31, 2025) 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.
F4 Reflects the number of shares surrendered on January 2, 2023 to satisfy the tax withholding on the vesting of 16,998 shares of the 50,996 Performance shares originally granted on January 2, 2020. The remaining 10,308 vested performance shares were retained by Mr. Petrello.
F5 Reflects the number of shares surrendered on January 2, 2023 to satisfy the tax withholding on the vesting of 17,259 Performance restricted stock units of the 51,779 Performance restricted stock units earned on January 2, 2021. The remaining 10,414 vested Performance shares were retained by Mr. Petrello.
F6 Represents the number of TSR shares forfeited on January 2, 2023, out of a total of 13,157 TSR shares originally granted to Mr. Petrello on January 2, 2020, 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, 2020 and ending on December 31, 2022, as determined on December 31, 2022, by the Compensation Committee of the Issuer's Board of Directors (the "Compensation Committee").
F7 Reflects the number of shares surrendered on January 2, 2023 to satisfy the tax withholding on the vesting of 7,236 TSR shares earned out of a total of 13,157 TSR shares originally granted to Mr. Petrello on January 2, 2020, 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, 2020 and ending on December 31, 2022, as determined on December 31, 2022 by the Compensation Committee. The remaining 4,388 earned and vested shares were retained by Mr. Petrello.
F8 Reflects the number of shares vesting on January 4, 2023 of the 55,284 earned Performance restricted stock units settled in shares originally granted on January 4, 2021.
F9 Reflects the number of shares surrendered on January 4, 2023 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.
F10 Performance restricted stock units convert into common shares on a 1-for-1 basis.
F11 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 2022, as determined on December 31, 2022, by the Compensation Committee. 192.5% 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 37,376 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, 2023.
F12 These warrants were earned and distributed in connection with the vesting of Performance restricted stock units on January 2, 2023 by Mr. Petrello pursuant to the terms of the applicable award agreement as determined by the Compensation Committee on December 31, 2022.
F13 Reflects the number of warrants surrendered on January 2, 2023 to satisfy the tax withholding on the vesting of 6,903 warrants distributed on January 2, 2023 related to the vesting of Performance restricted stock units on January 2, 2023 by Mr. Petrello and distributed pursuant to the terms of the applicable award agreement. The 4,185 vested warrants remaining were retained by Mr. Petrello.
F14 These warrants were earned and distributed in connection with the vesting of Performance restricted stock units on January 4, 2023 by Mr. Petrello pursuant to the terms of the applicable award agreement as determined by the Compensation Committee on December 31, 2022.
F15 Reflects the number of warrants surrendered on January 4, 2023 to satisfy the tax withholding on the vesting of 7,371 warrants distributed on January 4, 2023 related to vesting of Performance restricted stock units on January 4, 2023 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.