# EDGAR Filing Document

**Accession Number:** 0001334321
**File Stem:** 0001163739-25-000017
**Filing Date:** 2025-10
**Character Count:** 10332
**Document Hash:** d309063f55c91623bac75dadd1efb836
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001163739-25-000017.hdr.sgml**: 20251006

**ACCESSION NUMBER**: 0001163739-25-000017

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251006

**DATE AS OF CHANGE**: 20251006

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Restrepo William J
- **CENTRAL INDEX KEY:** 0001334321

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32657
- **FILM NUMBER:** 251376184

**MAIL ADDRESS:**
- **STREET 1:** C/O NABORS CORPORATE SERVICES, INC.
- **STREET 2:** 515 W. GREENS ROAD
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77067
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NABORS INDUSTRIES LTD
- **CENTRAL INDEX KEY:** 0001163739
- **STANDARD INDUSTRIAL CLASSIFICATION:** DRILLING OIL & GAS WELLS [1381]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 980363970
- **STATE OF INCORPORATION:** D0
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** CROWN HOUSE
- **STREET 2:** 4 PAR-LA-VILLE ROAD   SECOND FLOOR
- **CITY:** HAMILTON, HM08
- **STATE:** D0
- **ZIP:** 0000
- **BUSINESS PHONE:** 4412921510

**MAIL ADDRESS:**
- **STREET 1:** P O BOX HM3349
- **CITY:** HAMILTON, HMPX
- **STATE:** D0
- **ZIP:** 0000

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[x] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Restrepo William J<br><sub>(Last) (First) (Middle)</sub><br>C/O NABORS CORPORATE SERVICES, INC.<br>515 W. GREENS RD., SUITE 1200<br><sub>(Street)</sub><br>HOUSTON, TX 77067<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-09-30 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Chief Financial Officer_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>NABORS INDUSTRIES LTD [ NBR ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2025-09-30 |  | F<sup>(1)(2)</sup> |  | 4013<sup>(1)(2)</sup> | D | $40.87 | 120320 | D |  |
| Common Stock | 2025-09-30 |  | F<sup>(1)(3)</sup> |  | 7074<sup>(1)(3)</sup> | D | $40.87 | 113246 | D |  |
| Common Stock | 2025-09-30 |  | F<sup>(1)(4)</sup> |  | 9662<sup>(1)(4)</sup> | D | $40.87 | 103584 | D |  |
| Common Stock | 2025-09-30 |  | M<sup>(5)(6)</sup> |  | 1075<sup>(5)(6)</sup> | A | $0 | 104659 | D |  |
| Common Stock | 2025-09-30 |  | F<sup>(5)(7)</sup> |  | 424<sup>(5)(7)</sup> | D | $40.87 | 104235 | D |  |
| Common Stock | 2025-09-30 |  | M<sup>(5)(8)</sup> |  | 11698<sup>(5)(8)</sup> | A | $0 | 115933 | D |  |
| Common Stock | 2025-09-30 |  | F<sup>(5)(9)</sup> |  | 4604<sup>(5)(9)</sup> | D | $40.87 | 111329 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 2021 Warrants | $166.6666 |  |  |  |  |  |  | 2021-06-11 | 2026-06-11 | Common Stock | 44212 |  | 44212 | D |  |
| 2023 Performance Share Units | <sup>(10)</sup> | 2025-09-30 |  | M<sup>(5)(6)</sup> |  |  | 1075<sup>(5)(6)</sup> | <sup>(10)</sup> | <sup>(10)</sup> | Common Stock | 1075 | $0 | 0 | D |  |
| 2024 Performance Share Units | <sup>(10)</sup> | 2025-09-30 |  | M<sup>(5)(8)</sup> |  |  | 11698<sup>(5)(8)</sup> | <sup>(10)</sup> | <sup>(10)</sup> | Common Stock | 11698 | $0 | 0 | D |  |

---

### Footnotes:

(1) Mr. Restrepo retired on September 30, 2025.  Pursuant to the Executive's employment agreement, upon a qualifying retirement, all unvested TSR Shares held by the reporting person vested in full on the retirement date.

(2) Reflects the number of shares surrendered on September 30, 2025 to satisfy the tax withholding on the vesting of 10,196 TSR shares deemed earned at maximum out of a total of 10,196 shares originally granted to Mr. Restrepo on January 1, 2023, for the three-year performance period beginning on January 1, 2023 and ending on December 31, 2025, as determined on September 30, 2025 by the Compensation Committee in connection with Mr. Restrepo's retirement entitlement pursuant to his employment agreement. The remaining 6,183 deemed earned and vested shares were retained by the executive.

(3) Reflects the number of shares surrendered on September 30, 2025 to satisfy the tax withholding on the vesting of 17,975 TSR shares deemed earned at maximum out of a total of 17,975 shares originally granted to Mr. Restrepo on January 1, 2024, for the three-year performance period beginning on January 1, 2024 and ending on December 31, 2026, as determined on September 30, 2025 by the Compensation Committee in connection with Mr. Restrepo's retirement entitlement pursuant to his employment agreement. The remaining 10,901 deemed earned and vested shares were retained by the executive.

(4) Reflects the number of shares surrendered on September 30, 2025 to satisfy the tax withholding on the vesting of 24,554 TSR shares deemed earned at maximum out of a total of 24,554 shares originally granted to Mr. Restrepo on January 1, 2025, for the three-year performance period beginning on January 1, 2025 and ending on December 31, 2027, as determined on September 30, 2025 by the Compensation Committee in connection with Mr. Restrepo's retirement entitlement pursuant to his employment agreement. The remaining 14,892 deemed earned and vested shares were retained by the executive.

(5) Mr. Restrepo retired on September 30, 2025.  Pursuant to the Executive's employment agreement, upon a qualifying retirement, all unvested performance stock units ("PSUs") held by the reporting person vested in full on the retirement date.

(6) Reflects the vesting of 1,075 PSUs on September 30, 2025 in connection with Mr. Restrepo's retirement in accordance with his employment agreement, which represents the number of PSUs that were earned in respect of the 3,225 PSUs originally granted on January 1, 2023, which 1,075 PSUs remained subject to time-vesting requirements

(7) Reflects the number of shares surrendered on September 30, 2025 to satisfy the tax withholding on the vesting and issuance of 1,075 shares of the 3,225 PSUs originally granted on January 1, 2023. The remaining 651 vested shares were retained by the executive.

(8) Reflects the vesting of 11,698 PSUs on September 30, 2025 in connection with Mr. Restrepo's retirement in accordance with his employment agreement, which represents the number of PSUs that were earned in respect of the 17,547 PSUs originally granted on January 1, 2024, which 11,698  PSUs remained subject to time-vesting requirements.

(9) Reflects the number of shares surrendered on September 30, 2025 to satisfy the tax withholding on the vesting and issuance of 11,698 shares of the 17,547 PSUs originally granted on January 1, 2024. The remaining 7,094 vested shares were retained by the executive.

(10) Performance restricted stock units convert into common shares on a 1-for-1 basis.

**Signature:** /s/ Mark D. Andrews by Power of Attorney for William Restrepo  
**Date:** 2025-10-02

### Remarks:

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).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**