SEC Form 4 · accession 0001127602-17-007507
NABORS INDUSTRIES LTD · NBR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William J Restrepo
Officer — Chief Financial Officer
Period of report
Feb 17, 2017
Accepted (ET)
Feb 21, 2017 · 6:23 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 17, 2017 | D | 32,137 | $0.00 | D | 863,455 | D | |
| Common Stock | Feb 17, 2017 | A | 80,495 | $0.00 | A | 943,950 | D | |
| Common Stock | Feb 17, 2017 | F | 13,677 | $15.31 | D | 930,273 | D | |
| Common Stock | Feb 20, 2017 | F | 4,868 | $15.31 | D | 925,405 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents the forfeiture of performance-based shares granted to Mr. Restrepo on March 3, 2014 that were eligible to vest following the end of a three-year performance period (January 1, 2014 to December 31, 2016) 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 17, 2017, the Compensation Committee of the Board of Directors determined that, based on the Company's relative TSR performance over the applicable performance period, 48,209 performance shares would vest and 32,137 performance shares would be forfeited.
- F2These performance shares were earned pursuant to Mr. Restrepo's employment agreement based upon the achievement of certain objectives for the year 2016 as determined by the Compensation Committee of the Board of Directors on February 17, 2017. The shares are scheduled to vest in three (3) equal annual installments beginning on the first anniversary of the date of the award.
- F3Reflects the number of shares surrendered to satisfy the tax withholding on the vesting of 48,209 performance shares on February 19, 2017. The remaining shares were retained by the executive.
- F4Reflects the number of shares surrendered to satisfy the tax withholding on the vesting of 17,861 shares of restricted stock on February 20, 2017. The remaining shares were retained by the executive.