Nabors Industries (NBR) VP & Corporate Secretary receives restricted and TSR share awards

Rhea-AI Filing Summary

Andrews Mark D reported acquisition or exercise transactions in this Form 4 filing.

Nabors Industries VP & Corporate Secretary Mark D. Andrews received equity awards in the form of common stock. On 02/09/2026, he was granted 1,775 shares of restricted stock at $0 per share, bringing his directly held common shares from this line to 21,530.

On the same date, he was also granted 4,571 performance-based TSR shares at $0 per share, with directly held common shares from this line totaling 26,101 after the award. The restricted stock vests in four equal annual installments starting one year after the grant date, while the TSR award can vest after a three-year period ending December 31, 2028 based on relative total shareholder return, and may result in anywhere from zero to the reported maximum shares vesting.

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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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^*

Andrews Mark D

(Last) (First) (Middle)

C/O NABORS CORPORATE SERVICES, INC

515 WEST GREENS ROAD

(Street)

HOUSTON TX 77067

(City) (State) (Zip)

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)
	VP & CORPORATE SECRETARY

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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	02/09/2026		A(1)		1,775(1)	A	$0	21,530	D
Common Stock	02/09/2026		A(2)		4,571(2)	A	$0	26,101	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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (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: 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

Explanation of Responses:

1. The restricted stock award is scheduled to vest in four (4) equal annual installments beginning on the first anniversary of the date of the award.

2. Represents an award of TSR shares that will only vest at the end of a three-year performance period (January 1, 2026 to December 31, 2028) 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. 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.

	/s/ Mark D. Andrews	02/11/2026
	** Signature of Reporting Person	Date
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).
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FAQ

What insider transactions did Nabors Industries (NBR) report for Mark D. Andrews?

Nabors Industries reported that VP & Corporate Secretary Mark D. Andrews received equity grants of common stock on February 9, 2026. He was awarded both time-vested restricted stock and performance-based TSR shares, increasing his directly held common share positions reflected in the filing.

How many restricted Nabors Industries (NBR) shares were granted to Mark D. Andrews?

Mark D. Andrews received a grant of 1,775 shares of Nabors Industries common stock as restricted stock. These shares were awarded at no cash cost per share and are scheduled to vest in four equal annual installments beginning on the first anniversary of the grant date.

What are the terms of the performance-based TSR share award for Nabors Industries (NBR)?

The performance-based TSR award covers up to 4,571 Nabors Industries shares that may vest after a three-year period from January 1, 2026 to December 31, 2028. Vesting depends on the company’s relative total shareholder return versus a peer group, and zero to the full amount may vest.

At what price were the Nabors Industries (NBR) equity awards granted to Mark D. Andrews?

Both the restricted stock and the TSR performance share awards to Mark D. Andrews were granted at a price of $0 per share. This indicates they were equity compensation awards rather than open-market purchases, reflecting typical stock-based executive compensation structures.

How do these Nabors Industries (NBR) grants affect Mark D. Andrews’ reported shareholdings?

Following the 1,775-share restricted stock grant, Mark D. Andrews is shown holding 21,530 common shares under that line. After the 4,571-share TSR award line, his reported common share amount is 26,101, reflecting increased direct beneficial ownership as reported in the Form 4.

When will the Nabors Industries (NBR) restricted and TSR awards to Mark D. Andrews vest?

The restricted stock vests in four equal annual installments starting on the first anniversary of the grant date. The TSR performance shares can vest only at the end of a three-year performance period ending December 31, 2028, based on relative total shareholder return against a peer group.