NABORS INDUSTRIES LTD — Director's Dealing 2018

Feb 27, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NABORS INDUSTRIES LTD (NBR)
CIK: 0001163739
Period of Report: 2018-02-23

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-23	Common Stock	D	262063	—	Disposed	3245025	Direct
2018-02-23	Common Stock	F	68749	$6.89	Disposed	3176276	Direct
2018-02-23	Common Stock	A	851763	—	Acquired	4028039	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5825191	Indirect

Footnotes

F1: Represents 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").

F2: Reflects 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.

F3: These 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.