Sec Form 4 Filing - Restrepo William J @ NABORS INDUSTRIES LTD - 2021-01-02

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Restrepo William J
2. Issuer Name and Ticker or Trading Symbol
NABORS INDUSTRIES LTD [ NBR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Chief Financial Officer
(Last) (First) (Middle)
C/O NABORS CORPORATE SERVICES, INC., 515 W. GREENS RD., SUITE 1200
3. Date of Earliest Transaction (MM/DD/YY)
01/02/2021
(Street)
HOUSTON, TX77067
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 01/02/2021 D( 1 ) 2,100 ( 1 ) ( 2 ) D $ 0 60,046 ( 2 ) D
Common Stock 01/02/2021 A( 3 ) 9,776 ( 2 ) ( 3 ) A $ 0 69,822 ( 2 ) D
Common Stock 01/04/2021 A( 4 ) 20,534 ( 4 ) A $ 0 90,356 ( 2 ) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Restrepo William J
C/O NABORS CORPORATE SERVICES, INC.
515 W. GREENS RD., SUITE 1200
HOUSTON, TX77067
Chief Financial Officer
Signatures
/s/ Mark D. Andrews by Power of Attorney for William Restrepo 01/05/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Represents the number of TSR shares forfeited on January 2, 2021, out of a total of 4,200 TSR shares originally granted to Mr. Restrepo on January 2, 2018, 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, 2018 and ending on December 31, 2020, as determined on December 31, 2020, by the Compensation Committee of the Issuer's Board of Directors (the "Compensation Committee").
( 2 )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.
( 3 )These Performance restricted share units were earned and granted to Mr. Restrepo 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 maximum that was earned, which is 200% 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.
( 4 )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.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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