Anthony G. Petrello - Dec 31, 2024 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
Dec 31, 2024
Transactions value $
-$436,550
Form type
4
Date filed
1/3/2025, 06:30 PM
Previous filing
Jun 26, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NBR Common Stock Disposed to Issuer $0 -30.3K -29.71% $0.00 71.7K Dec 31, 2024 Direct F1
transaction NBR Common Stock Options Exercise $0 +13.5K +18.79% $0.00 85.2K Jan 1, 2025 Direct F2
transaction NBR Common Stock Tax liability -$113K -1.97K -2.32% $57.17 83.2K Jan 1, 2025 Direct F3
transaction NBR Common Stock Options Exercise $0 +5.02K +6.03% $0.00 88.2K Jan 1, 2025 Direct F4
transaction NBR Common Stock Options Exercise $0 +14K +15.85% $0.00 102K Jan 1, 2025 Direct F5
transaction NBR Common Stock Tax liability -$324K -5.66K -5.54% $57.17 96.5K Jan 1, 2025 Direct F6
transaction NBR Common Stock Award $0 +43K +44.52% $0.00 139K Jan 1, 2025 Direct F7
holding NBR Common Stock 266K Dec 31, 2024 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 Options Exercise $0 -13.5K -100% $0.00 0 Jan 1, 2025 Common Stock 13.5K Direct F2, F8
transaction NBR 2023 Performance Share Units Options Exercise $0 -5.02K -50% $0.00 5.02K Jan 1, 2025 Common Stock 5.02K Direct F4, F8
transaction NBR 2024 Performance Share Units Award $0 +41.9K $0.00 41.9K Jan 1, 2025 Common Stock 41.9K Direct F8, F9
transaction NBR 2024 Performance Share Units Options Exercise $0 -14K -33.33% $0.00 28K Jan 1, 2025 Common Stock 14K Direct F5, F8
holding NBR 2021 Warrants 4.47K Dec 31, 2024 Common Stock 4.47K $166.67 Direct
holding NBR 2021 Warrants 171K Dec 31, 2024 Common Stock 171K $166.67 Trust
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the number of TSR shares forfeited on December 31, 2024, out of a total of 30,305 TSR shares originally granted to Mr. Petrello on January 1, 2022, 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, 2022 and ending on December 31, 2024, as determined on December 31, 2024, by the Compensation Committee of the Issuer's Board of Directors (the "Compensation Committee").
F2 Reflects the number of shares vesting on January 1, 2025 in respect of the 40,406 earned and vested Performance restricted stock units originally granted on January 1, 2022.
F3 Reflects the number of shares surrendered on January 1, 2025 to satisfy the tax withholding on the vesting and issuance of 5,016 shares of the 15,048 Performance restricted stock units originally granted on January 1, 2023. The remaining 3,042 vested performance shares were retained by Mr. Petrello.
F4 Reflects the number of shares vesting on January 1, 2025 in respect of the 15,048 earned and vested Performance restricted stock units originally granted on January 1, 2023.
F5 Reflects the number of shares vesting on January 1, 2025 in respect of the 41,942 earned and vested Performance restricted stock units originally granted on January 1, 2024.
F6 Reflects the number of shares surrendered on January 1, 2025 to satisfy the tax withholding on the vesting and issuance of 13,981 shares of the 41,942 Performance restricted stock units originally granted on January 1, 2024. The remaining 8,319 vested performance shares were retained by Mr. Petrello.
F7 Represents an award of TSR shares that will only vest at the end of a three-year performance period (January 1, 2025 to December 31, 2027) 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.
F8 Performance restricted stock units convert into common shares on a 1-for-1 basis.
F9 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 2024, as determined on December 31, 2024, by the Compensation Committee. 190.32% 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 37,886 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, 2025.