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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 8-K 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): June 7, 2022

 

NABORS INDUSTRIES LTD.

(Exact name of registrant as specified in its charter)

 

Bermuda   001-32657   98-0363970
(State or Other Jurisdiction of
Incorporation or Organization)
  (Commission File Number)   (I.R.S. Employer
Identification No.)

 

Crown House
4 Par-la-Ville Road
Second Floor
Hamilton, HM08 Bermuda
  N/A
(Address of principal executive offices)   (Zip Code)

 

(441) 292-1510

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act: 

Title of each class   Trading Symbol(s)   Name of exchange on which
registered
Common shares   NBR   NYSE

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Item 5.07Submission of Matters to a Vote of Security Holders.

 

The annual general meeting of shareholders (the “Annual Meeting”) of the Company was held on June 7, 2022. Holders of 8,357,762 shares, representing 79.76% of our outstanding shares of common stock entitled to vote as of the record date for the Annual Meeting, participated in person or by proxy.

 

As explained in our proxy statement relating to the Annual Meeting:

 

·         In accordance with the Company’s Bye-Laws, directors are elected by a plurality of the votes cast. However, the Company has adopted a policy requiring that, in the event a nominee does not receive the affirmative vote of a majority of the shares voted in connection with his or her election, he or she must promptly tender his or her contingent resignation from the Board of Directors (the “Board”), which the Board will accept unless it determines that it would not be in the Company’s best interests to do so.

 

·         Approval of the other matters considered at the Annual Meeting required the affirmative vote of the holders of a majority of shares present in person or represented by proxy and entitled to vote at the meeting, with abstentions having the effect of votes against a proposal and broker nonvotes being disregarded in the calculation.

 

The matters voted upon at the Annual Meeting were:

 

A. Election of Directors*

 

   Shares For   Shares Withheld   Nonvotes   Result 
Tanya S. Beder   6,743,776    878,311    735,675    Elected 
Anthony R. Chase   6,803,466    818,621    735,675    Elected 
James R. Crane   7,273,557    348,530    735,675    Elected 
John P. Kotts   6,810,345    811,742    735,675    Elected 
Michael C. Linn   5,918,896    1,703,191    735,675    Elected 
Anthony G. Petrello   7,231,900    390,187    735,675    Elected 
John Yearwood   7,005,107    616,980    735,675    Elected 

 

*All directors were elected by a majority of shares voted.

 

B. Approval and Appointment of PricewaterhouseCoopers LLP as Our Independent Auditor and Authorization for the Audit Committee To Set the Independent Auditor’s Remuneration

 

For    8,121,436 
Against    147,789 
Abstain    88,537 

 

RESULT: Approved (97.2% For)

  

C. Advisory Vote on Compensation of Named Executive Officers

 

For    2,455,985 
Against    4,673,858 
Abstain    492,244 
Nonvotes    735,675 

 

RESULT: Not Approved (32.2% For)

 

 

D. Approval of Amendment No. 2 to the Amended and Restated Nabors Industries Ltd. 2016 Stock Plan

 

For    6,045,591 
Against    1,483,098 
Abstain    93,398 
Nonvotes    735,675 

 

RESULT: Approved (79.3% For)

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  Nabors Industries Ltd.

 

Date: June 13, 2022 By:     /s/Mark D. Andrews
      Name: Mark D. Andrews
      Title: Corporate Secretary

 

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