SEC Form 4 · accession 0001127602-16-042950
NABORS INDUSTRIES LTD · NBR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Anthony G Petrello
Officer — CHAIRMAN, PRESIDENT & CEO · Director
Period of report
Feb 20, 2016
Accepted (ET)
Feb 23, 2016 · 4:33 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001163739
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Feb 20, 2016 | F | 2,418 | $6.88 | D | 3,002,634 | D | |
| Common Stock | Feb 21, 2016 | D | 176,966 | $0.00 | D | 2,825,668 | D | |
| Common Stock | Feb 21, 2016 | F | 124,816 | $6.88 | D | 2,700,852 | D | |
| Common Stock | holding | — | — | — | 5,060,129 | I | Trust |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Reflects the number of shares surrendered to satisfy the tax withholding on the vesting of 76,943 shares of restricted stock on February 20, 2016. The remaining shares were retained by the executive.
- F2Represents the forfeiture of performance-based shares granted to Mr. Petrello on March 7, 2013 that were eligible to vest following the end of a three-year performance period (January 1, 2013 to December 31, 2015) based on the Company's relative total shareholder return ("TSR") against a peer group of companies. Upon grant, the maximum vesting amount was reported in Table I of Form 4. Effective February 21, 2016, the Company determined that, based on the Company's relative TSR performance over the applicable performance period, 176,967 performance shares would vest and 176,966 performance shares would be forfeited.
- F3Reflects the number of shares surrendered to satisfy the tax withholding on the vesting of 120,769 shares of restricted stock and 179,967 performance shares on February 21, 2016. The remaining shares were retained by the executive.