SEC Form 4 · accession 0001127602-17-028963
NABORS INDUSTRIES LTD · NBR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John P Kotts
Director
Period of report
Sep 29, 2017
Accepted (ET)
Oct 3, 2017 · 4:39 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001163739
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to Buy)F1 | $8.07 | Sep 29, 2017 | A | 20,079 | A | Sep 29, 2017 | Sep 29, 2027 | Common Stock | 20,079 | 20,079 | D |
Explanation of responses
- F1The Reporting Person elected to receive stock options in lieu of the quarterly cash payment he would normally receive as a Nabors director. The number of options was determined by dividing the foregone cash payment of $55,000 by the option price on the date of grant calculated in accordance with the Black-Scholes valuation model, or $2.7392 per share. The options are fully vested as of the date of grant, and have an exercise price of $8.07 per share, which is the closing price of Nabors' common shares on the date of grant.