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The number of options was determined by dividing the foregone cash payment of $40,000 by the option price on the date of grant calculated in accordance with the Black-Scholes valuation model, or $2.2494 per share. The options are fully vested as of the date of grant, and have an exercise price of $6.41 per share, which is the closing price of Nabors' common shares on the date of grant."},{"field":"shares","element":"transactionShares","label":"F1","text":"The Reporting Person elected to receive stock options in lieu of the quarterly cash payment he would normally receive as a Nabors director. The number of options was determined by dividing the foregone cash payment of $40,000 by the option price on the date of grant calculated in accordance with the Black-Scholes valuation model, or $2.2494 per share. 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The number of options was determined by dividing the foregone cash payment of $40,000 by the option price on the date of grant calculated in accordance with the Black-Scholes valuation model, or $2.4911 per share. The options are fully vested as of the date of grant, and have an exercise price of $6.99 per share, which is the closing price of Nabors' common shares on the date of grant."},{"field":"shares","element":"transactionShares","label":"F1","text":"The Reporting Person elected to receive stock options in lieu of the quarterly cash payment he would normally receive as a Nabors director. The number of options was determined by dividing the foregone cash payment of $40,000 by the option price on the date of grant calculated in accordance with the Black-Scholes valuation model, or $2.4911 per share. The options are fully vested as of the date of grant, and have an exercise price of $6.99 per share, which is the closing price of Nabors' common shares on the date of grant."},{"field":"price","element":"transactionPricePerShare","label":"F1","text":"The Reporting Person elected to receive stock options in lieu of the quarterly cash payment he would normally receive as a Nabors director. The number of options was determined by dividing the foregone cash payment of $40,000 by the option price on the date of grant calculated in accordance with the Black-Scholes valuation model, or $2.4911 per share. 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The options are fully vested as of the date of grant, and have an exercise price of $6.83 per share, which is the closing price of Nabors' common shares on the date of grant."},{"field":"price","element":"transactionPricePerShare","label":"F1","text":"The Reporting Person elected to receive stock options in lieu of the quarterly cash payment he would normally receive as a Nabors director. The number of options was determined by dividing the foregone cash payment of $41,413 by the option price on the date of grant calculated in accordance with the Black-Scholes valuation model, or $2.2532 per share. 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The options vest immediately."}],"balance_after":10017,"derivative":{"exercise_price":12.16,"exercise_date":"2016-09-30","expiration_date":"2026-09-30","underlying":"Common Stock","underlying_shares":10017},"source":{"system":"sec-edgar","filing":"0001127602-16-063797","document":"form4.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/1163739/000112760216063797/form4.xml","form_type":"4"}}]}