NABORS INDUSTRIES LTD — Director's Dealing 2016

Feb 23, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NABORS INDUSTRIES LTD (NBR)
CIK: 0001163739
Period of Report: 2016-02-20

Reporting Person: PETRELLO ANTHONY G (Director, CHAIRMAN, PRESIDENT & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-20	Common Stock	F	2418	$6.88	Disposed	3002634	Direct
2016-02-21	Common Stock	D	176966	—	Disposed	2825668	Direct
2016-02-21	Common Stock	F	124816	$6.88	Disposed	2700852	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5060129	Indirect

Footnotes

F1: Reflects 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.

F2: Represents 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.

F3: Reflects 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.