SEC Form 4 · accession 0001127602-18-013862
NABORS INDUSTRIES LTD · NBR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dag Skattum
Director
Period of report
Mar 29, 2018
Accepted (ET)
Apr 3, 2018 · 6:43 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 | $6.99 | Mar 29, 2018 | A | 16,057 | A | Mar 29, 2018 | Mar 29, 2028 | Common Stock | 16,057 | 16,057 | 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 $40,000 by the option price on the date of grant calculated in accordance with the Black-Scholes valuation model, or $2.4911 per share. The options are fully vested as of the date of grant, and have an exercise price of $6.99 per share, which is the closing price of Nabors' common shares on the date of grant.