NABORS INDUSTRIES LTD — Director's Dealing 2021

Jan 5, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NABORS INDUSTRIES LTD (NBR)
CIK: 0001163739
Period of Report: 2020-12-29

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-29	Common Stock	G	5400	$56.31	Disposed	139902	Indirect
2020-12-31	Common Stock	F	3	$56.67	Disposed	138320	Direct
2021-01-02	Common Stock	F	6940	$58.23	Disposed	131380	Direct
2021-01-02	Common Stock	A	51779	—	Acquired	183159	Direct
2021-01-02	Common Stock	F	6785	$58.23	Disposed	176374	Direct
2021-01-04	Common Stock	A	41463	—	Acquired	217837	Direct

Footnotes

F1: These shares were donated to a charitable foundation.

F2: On April 22, 2020, the Issuer effected a 1-for-50 reverse stock split of its common stock (the "Reverse Stock Split"). The amount of securities reported here have been adjusted to reflect the Reverse Stock Split.

F3: Reflects the number of shares surrendered on December 31, 2020 to satisfy the tax withholding on the vesting of 5 restricted shares out of the 15 restricted shares originally granted on December 31, 2018. The 2 vested shares remaining were retained by the executive.

F4: Reflects the number of shares surrendered on January 2, 2021 to satisfy the tax withholding on the vesting of 16,999 shares of the 50,996 Performance shares originally granted on January 2, 2020. The remaining 10,059 vested shares were retained by the executive.

F5: These Performance restricted share units were earned and granted to Mr. Petrello pursuant to his employment agreement based on the achievement of certain objectives for the year 2020, as determined on December 31, 2020, by the Compensation Committee. The number of Performance restricted share units reported represents the actual amount that was earned, which is 196.76% of the target number. The Performance restricted share units are scheduled to vest in three (3) equal annual installments beginning on the first anniversary of the date of grant, January 2, 2020.

F6: Reflects the number of Performance restricted share units surrendered on January 2, 2021 to satisfy the tax withholding on the vesting of 17,260 Performance restricted share units of the 51,779 Performance restricted share units earned on January 2, 2021 out of the 52,632 Performance restricted share units that were originally granted on January 2, 2020. The remaining 10,475 vested Performance shares were retained by the executive.

F7: Represents an award of TSR shares that will only vest at the end of a three-year performance period (January 1, 2021 to December 31, 2023) 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.