SEC Form 4 · accession 0001127602-18-008736
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 23, 2018
Accepted (ET)
Feb 27, 2018 · 4:53 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 StockF1 | Feb 23, 2018 | D | 262,063 | $0.00 | D | 3,245,025 | D | |
| Common StockF2 | Feb 23, 2018 | F | 68,749 | $6.89 | D | 3,176,276 | D | |
| Common StockF3 | Feb 23, 2018 | A | 851,763 | $0.00 | A | 4,028,039 | D | |
| Common Stock | holding | — | — | — | 5,825,191 | I | Trust |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents the number of TSR shares forfeited on February 23, 2018, out of a total of 436,772 TSR shares originally granted to Mr. Petrello on January 1, 2015 in accordance with his employment agreement, based on the Company's relative total shareholder return against a peer group of companies during the three-year performance period beginning on January 1, 2015 and ending on December 31, 2017, as determined on February 23, 2018 by the Compensation Committee of the Company's Board of Directors (the "Compensation Committee").
- F2Reflects the number of shares surrendered on February 23, 2018 to satisfy the tax withholding on the vesting of 174,709 TSR shares earned out of a total of 436,772 shares originally granted to Mr. Petrello on January 1, 2015 in accordance with his employment agreement, based on the Company's relative total shareholder return against a peer group of companies during the three-year performance period beginning on January 1, 2015 and ending on December 31, 2017, as determined on February 23, 2018 by the Compensation Committee. The remaining 105,960 earned and vested shares were retained by the executive.
- F3These Performance shares were earned and granted to Mr. Petrello pursuant to his employment agreement based on the achievement of certain objectives for the year 2017, as determined on February 23, 2018, by the Compensation Committee. The Performance shares are scheduled to vest in three (3) equal annual installments beginning on the first anniversary of the date of grant.