NABORS INDUSTRIES LTD — Director's Dealing 2019

Jan 3, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NABORS INDUSTRIES LTD (NBR)
CIK: 0001163739
Period of Report: 2019-01-02

Reporting Person: Restrepo William J (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-01-02	Common Stock	D	111555	—	Disposed	1107280	Direct
2019-01-02	Common Stock	A	517928	—	Acquired	1625208	Direct

Footnotes

F1: Represents the number of TSR shares forfeited on January 2, 2019, out of a total of 148,741 TSR shares originally granted to Mr. Restrepo on January 4, 2016, based on the Issuer's relative total shareholder return as compared to a peer group of companies during the three-year performance period beginning on January 1, 2016 and ending on December 31, 2018, as determined on January 2, 2019, by the Compensation Committee of the Issuer's Board of Directors (the "Compensation Committee").

F2: Represents an award of TSR shares that will only vest at the end of a three-year performance period (January 1, 2019 to December 31, 2021) based on the Issuer's relative total shareholder return as compared to a peer group of companies. The number of shares reported represents the maximum that may be earned, which is 200% of the target number. No number of shares is guaranteed to vest and the actual number of shares that will vest at the end of the performance period may be
anywhere from zero to the amount stated.