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Companies Nabors Industries Ltd

Nabors Industries (NBR): executive pay, fiscal 2025

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CEO total pay$29,636,103CEO Anthony Petrello · source
Say-on-pay support33.72%Latest vote · source
CEO vs. named peers99th pct.Of 13 peer CEOs
CEO pay ratio514:1To the median employee · source

CEO pay, last three years

  • $10,334,034FY2023
  • $12,146,803FY2024
  • $29,636,103FY2025

CEO total pay was $29,636,103 in fiscal 2025, up from $12,146,803 in fiscal 2024.

FY2025: salary $1,750,000 · bonus $19,000,000 · stock awards $5,352,354 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Nabors Industries Ltd in fiscal 2025?
As disclosed, Anthony Petrello (Chairman of the Board, President and Chief Executive Officer) was the highest-paid executive at Nabors Industries Ltd in fiscal 2025, with total compensation of $29,636,103.
How does Nabors Industries Ltd's chief executive pay compare to its disclosed peer group?
As disclosed, Anthony Petrello's total compensation ranked at the 99th percentile of Nabors Industries Ltd's disclosed peer group.
What is Nabors Industries Ltd's CEO-to-median employee pay ratio?
As disclosed, Nabors Industries Ltd's CEO-to-median employee pay ratio was 514:1.
How did shareholders vote on Nabors Industries Ltd's executive compensation?
As disclosed, 33.72% of shareholders supported Nabors Industries Ltd's executive compensation in the latest say-on-pay vote.
How much does Nabors Industries Ltd spend in total on board compensation for fiscal 2025?
As disclosed, Nabors Industries Ltd reported total board compensation of $3,094,124 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Anthony Petrello$1,750,000$19,000,000$5,352,354$0$2,049,275$0$1,484,474$29,636,103
Chairman of the Board, President and Chief Executive Officer
William Restrepo582,692200,0002,835,0800022,828739,9134,380,513
Former Chief Financial Officer
Miguel Rodriguez489,0381,300,000662,2390275,0007,167202,3782,935,822
Chief Financial Officer
Mark Andrews304,731150,000375,9610125,0000178,3501,134,042
Vice President and Corporate Secretary

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Anthony Petrello$29,636,103$12,146,803$10,334,034↑ +17,489,300
William Restrepo4,380,5134,921,2384,392,410↓ −540,725
Miguel Rodriguez2,935,822———
Mark Andrews1,134,042927,497946,237↑ +206,545

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

Compensation philosophy aligns pay with financial and operational performance, including a mix of relative and absolute metrics; a significant portion of executive pay is performance-based or 'at risk'. The Compensation Committee strives to set base salary and performance-based compensation for our CEO and CFO in relation to the desired total mix of fixed versus at-risk pay.

CEO STI target (% of salary)100%
CEO LTI target (% of salary)—
Independent consultantPay Governance
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingfalse
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Mark AndrewsPSU2025-02-1801,628—3,256$75,000
Anthony PetrelloPSU2025-02-18016,276—32,552750,000
Anthony PetrelloPSU2025-01-0110,74321,485—42,9701,326,914
Anthony PetrelloPSU2025-01-0111,45957,293—114,5863,275,440
William RestrepoPSU2025-01-012,45512,277—24,554701,876
William RestrepoPSU2025-01-016,13812,277—24,554879,279
Miguel RodriguezRSU2025-02-18——5,148—237,220
Miguel RodriguezRSU2025-10-01——4,807—200,019
Mark AndrewsPSU2025-02-181,7333,467—6,933200,000
Mark AndrewsRSU2025-02-18——2,191—100,961
Miguel RodriguezPSU2025-02-1804,883—9,766225,000
William RestrepoRSU2025-10-01——52,725—1,253,928

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Mark Andrews$100,961$275,000$073.1%
Anthony Petrello05,352,3540100.0%
William Restrepo1,253,9281,581,155055.8%
Miguel Rodriguez437,239225,000034.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Mark AndrewsPSU241—$13,086
Mark AndrewsRSU454—24,652
Miguel RodriguezRSU603—32,743
Miguel RodriguezPSU686—37,250
Mark AndrewsRSU796—43,223
Mark AndrewsPSU860—46,698
Mark AndrewsPSU875—47,513
Miguel RodriguezRSU1,134—61,576
Mark AndrewsPSU1,628—88,400
Mark AndrewsPSU1,642—89,161
Mark AndrewsPSU1,733—94,102
Miguel RodriguezRSU1,987—107,894
Miguel RodriguezPSU2,008—109,034
Mark AndrewsRSU2,191—118,971
Miguel RodriguezPSU2,736—148,565
Miguel RodriguezRSU4,807—261,020
Miguel RodriguezPSU4,883—265,147
Anthony PetrelloPSU5,016—272,369
Miguel RodriguezRSU5,148—279,536
Anthony PetrelloPSU7,864—427,015
Anthony PetrelloPSU8,605—467,252
Anthony PetrelloPSU10,743—583,345
Anthony PetrelloPSU16,276—883,787
Anthony PetrelloPSU16,420—891,606
William RestrepoPSU17,105—928,802
Anthony PetrelloRSU27,961—1,518,282
Anthony PetrelloRSU57,293—3,111,010
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Anthony R. ChaseIndependent · Compensation · Governance and Nominating · Risk Oversight (Chair)$150,000$187,500$0$0$212,500$550,000
John YearwoodIndependent · Lead Independent Director · Audit · Governance and Nominating · Technology and Safety · Executive175,652187,50000147,300510,452
Tanya S. BederIndependent · Audit · Compensation (Chair) · Technology and Safety155,000187,50000147,300489,800
James R. CraneIndependent · Executive · Technology and Safety (Chair)130,000187,50000147,300464,800
John P. KottsIndependent · Audit (Chair) · Compensation170,000187,5000062,500420,000
Michael C. LinnIndependent · Governance and Nominating (Chair) · Risk Oversight140,000187,5000062,500390,000
David J. TudorIndependent · Audit · Risk Oversight · Newly elected54,688214,384000269,072
Anthony G. PetrelloEmployee director · Board Chair · Executive (Chair)—————0

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$250,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)60,000 / 30,000 / 30,000
Stock ownership guideline5x annual cash retainer

Total cost of the board

ComponentFY2025
Cash retainers and fees$975,340
Equity awards (grant-date value)$1,339,384
All other compensation$779,400
Total cost of the board$3,094,124

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Nabors Industries as a peer

Companies that benchmark against NBR

15 companies name NBR as a compensation peer

The list of companies that name NBR as a peer is temporarily unavailable — recheck shortly.

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

The companies Nabors Industries Ltd names as compensation peers that name it back in their own disclosed peer groups.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Nabors Industries Ltd2025Anthony Petrello$1,750,000$5,352,354$0$2,049,275$29,636,103
2Baker Hughes Company2025Lorenzo Simonelli1,710,00013,310,81903,557,70621,363,825
3TechnipFMC2025Douglas Pferdehirt1,450,00012,361,64003,501,75017,816,188
4SLB2025Olivier Le Peuch1,650,00012,374,95302,083,95017,347,291
5Halliburton Company2025Jeffrey Miller1,700,0007,992,78205,944,83616,525,407
6Weatherford International2025Girishchandra Saligram1,254,8089,969,03501,735,29613,022,298
7Patterson-UTI Energy2025William Hendricks1,300,0008,497,99102,264,33012,077,321
8Noble Corporation2025Robert Eifler995,8338,750,62601,488,65111,885,455
9Flowserve Corporation2025R. Scott Rowe1,236,5387,245,11401,901,25010,914,232
10Helmerich & Payne2025John Lindsay1,179,9095,749,95701,559,0169,010,799
11Transocean2025Keelan Adamson933,3335,771,95701,820,0008,793,715
12Expro Group Holdings2024Michael Jardon1,000,0005,246,0720690,6256,962,497
13Valaris2025Anton Dibowitz950,0003,861,42501,223,6006,054,415
—Precision Drilling Corporation——————not in coverage universe

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Nabors Industries Ltdnot disclosednot disclosedYes — Relative Total Shareholder Return (TSR)Pay Governance
Baker Hughes Company113.5%PSU 50 · RSU 50Yes — Relative TSRFrederic W. Cook & Co., Inc.
Expro Group Holdingsnot disclosedPRSU 60 · RSU 40Yes — Total Shareholder Return (TSR)Meridian Consultants, LLC
Flowserve Corporation117%not disclosedYes — relative Total Shareholder Return (rTSR)F.W. Cook
Halliburton Companynot disclosednot disclosedYes — Total Shareholder Return (TSR)not disclosed
Helmerich & Payne109.09%PSU 50 · RSU 50Yes — Total Stockholder Return (TSR)Willis Towers Watson
Noble Corporationnot disclosednot disclosednot disclosednot disclosed
Patterson-UTI Energynot disclosedPSU 50 · RSU 50Yes — Total Stockholder Return (TSR)Pay Governance LLC
Precision Drilling Corporationnot disclosednot disclosednot disclosednot disclosed
SLB84%PSU 75 · RSU 25Yes — Total Shareholder Return (TSR)Pay Governance
TechnipFMCnot disclosedPSU 70 · RSU 30Yes — Relative TSRPearl Meyer & Partners, LLC
Transoceannot disclosedPSU 50 · RSU 50NoPay Governance LLC
Valarisnot disclosednot disclosednot disclosednot disclosed
Weatherford International92.3%PSU 75 · RSU 25NoLB&Co.

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-023,823,9977,497,07319,08433.72%Failed
20252025-06-037,000,9924,320,44452,22661.55%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.

Say-on-pay — history, company’s computation

Meeting yearMeeting dateApproval — company’s computation
20262026-06-0233.72%a
20252025-06-0361.55%b

a. Approved under the standard stated in the filing — “Abstentions have the same effect as a vote against the proposal;”.

b. Approved under the standard stated in the filing — “Abstentions have the same effect as a vote against the proposal;”.

Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

CEO pay ratio

Ratio (CEO : median employee)514 : 1
CEO total compensation—
Median employee compensation$57,656
Insider trades since the proxy

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Michael C. LinnDirector2026-06-02A1,324$0$0CommonForm 4 ↗
James R. CraneDirector2026-06-02A1,32400CommonForm 4 ↗
John YearwoodDirector2026-06-02A1,32400CommonForm 4 ↗
John P. KottsDirector2026-06-02A1,32400CommonForm 4 ↗
Anthony R. ChaseDirector2026-06-02A1,32400CommonForm 4 ↗
Tanya S. BederDirector2026-06-02A1,32400CommonForm 4 ↗
David J. TudorDirector2026-06-02A1,32400CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

Sources (59 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Anthony Petrello. DEF 14A, filed 2026-04-22. Section “Summary Compensation Table” · page 82. As printed: 29,636,103. View filing ↗
  • Section 01, William Restrepo. DEF 14A, filed 2026-04-22. Section “Summary Compensation Table”. As printed: 4,380,513. View filing ↗
  • Section 01, Miguel Rodriguez. DEF 14A, filed 2026-04-22. Section “Summary Compensation Table”. As printed: 2,935,822. View filing ↗
  • Section 01, Mark Andrews. DEF 14A, filed 2026-04-22. Section “Summary Compensation Table”. As printed: 1,134,042. View filing ↗
  • Section 03, Mark Andrews PSU. DEF 14A, filed 2026-04-22. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Anthony Petrello PSU. DEF 14A, filed 2026-04-22. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Anthony Petrello PSU. DEF 14A, filed 2026-04-22. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Anthony Petrello PSU. DEF 14A, filed 2026-04-22. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, William Restrepo PSU. DEF 14A, filed 2026-04-22. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, William Restrepo PSU. DEF 14A, filed 2026-04-22. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Miguel Rodriguez RSU. DEF 14A, filed 2026-04-22. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Miguel Rodriguez RSU. DEF 14A, filed 2026-04-22. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Mark Andrews PSU. DEF 14A, filed 2026-04-22. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Mark Andrews RSU. DEF 14A, filed 2026-04-22. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Miguel Rodriguez PSU. DEF 14A, filed 2026-04-22. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, William Restrepo RSU. DEF 14A, filed 2026-04-22. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-04-22. Section “CEO Pay Ratio”. As printed: 514 : 1. View filing ↗
  • Section 08, Anthony R. Chase. DEF 14A, filed 2026-04-22. Section “Director Compensation”. As printed: 550,000. View filing ↗
  • Section 08, John Yearwood. DEF 14A, filed 2026-04-22. Section “Director Compensation”. As printed: 510,452. View filing ↗
  • Section 08, Tanya S. Beder. DEF 14A, filed 2026-04-22. Section “Director Compensation”. As printed: 489,800. View filing ↗
  • Section 08, James R. Crane. DEF 14A, filed 2026-04-22. Section “Director Compensation”. As printed: 464,800. View filing ↗
  • Section 08, John P. Kotts. DEF 14A, filed 2026-04-22. Section “Director Compensation”. As printed: 420,000. View filing ↗
  • Section 08, Michael C. Linn. DEF 14A, filed 2026-04-22. Section “Director Compensation”. As printed: 390,000. View filing ↗
  • Section 08, David J. Tudor. DEF 14A, filed 2026-04-22. Section “Director Compensation”. As printed: 269,072. View filing ↗
  • Section 08, Anthony G. Petrello. DEF 14A, filed 2026-04-22. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 02, Michael C. Linn 2026-06-02. Form 4, filed 2026-06-03. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, James R. Crane 2026-06-02. Form 4, filed 2026-06-03. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, John Yearwood 2026-06-02. Form 4, filed 2026-06-03. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, John P. Kotts 2026-06-02. Form 4, filed 2026-06-03. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Anthony R. Chase 2026-06-02. Form 4, filed 2026-06-03. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Tanya S. Beder 2026-06-02. Form 4, filed 2026-06-03. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, David J. Tudor 2026-06-02. Form 4, filed 2026-06-03. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-06-05. Item 5.07 · say-on-pay result. As reported: 33.72% (votes for as printed: 3,823,997). View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-06-06. Item 5.07 · say-on-pay result. As reported: 61.55% (votes for as printed: 7,000,992). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Section 09b board cost (computed). Computed. Cash 975,340 + equity 1,339,384 + all other 779,400 = 3,094,124, summed across the director compensation table rows.
  • Nabors Industries Ltd (subject), Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in Nabors Industries Ltd's own proxy. As printed: 29,636,103. View filing ↗
  • Baker Hughes Company, Section 10b CEO total. DEF 14A, filed 2026-03-30. CEO total compensation as printed in Baker Hughes Company's own proxy. As printed: 21,363,825. View filing ↗
  • TechnipFMC, Section 10b CEO total. DEF 14A, filed 2026-03-19. CEO total compensation as printed in TechnipFMC's own proxy. As printed: 17,816,188. View filing ↗
  • SLB, Section 10b CEO total. DEF 14A, filed 2026-02-26. CEO total compensation as printed in SLB's own proxy. As printed: 17,347,291. View filing ↗
  • Halliburton Company, Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Halliburton Company's own proxy. As printed: 16,525,407. View filing ↗
  • Weatherford International, Section 10b CEO total. DEF 14A, filed 2026-04-21. CEO total compensation as printed in Weatherford International's own proxy. As printed: 13,022,298. View filing ↗
  • Patterson-UTI Energy, Section 10b CEO total. DEF 14A, filed 2026-04-13. CEO total compensation as printed in Patterson-UTI Energy's own proxy. As printed: 12,077,321. View filing ↗
  • Noble Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-16. CEO total compensation as printed in Noble Corporation's own proxy. As printed: 11,885,455. View filing ↗
  • Flowserve Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Flowserve Corporation's own proxy. As printed: 10,914,232. View filing ↗
  • Helmerich & Payne, Section 10b CEO total. DEF 14A, filed 2026-01-22. CEO total compensation as printed in Helmerich & Payne's own proxy. As printed: 9,010,799. View filing ↗
  • Transocean, Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Transocean's own proxy. As printed: 8,793,715. View filing ↗
  • Expro Group Holdings, Section 10b CEO total. DEF 14A, filed 2025-04-11. CEO total compensation as printed in Expro Group Holdings's own proxy. As printed: 6,962,497. View filing ↗
  • Valaris, Section 10b CEO total. DEF 14A, filed 2026-04-16. CEO total compensation as printed in Valaris's own proxy. As printed: 6,054,415. View filing ↗
  • Section 10a, Helmerich & Payne reciprocity. DEF 14A. Helmerich & Payne names Nabors Industries Ltd in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Expro Group Holdings reciprocity. DEF 14A. Expro Group Holdings names Nabors Industries Ltd in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Noble Corporation reciprocity. DEF 14A. Noble Corporation names Nabors Industries Ltd in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Baker Hughes Company reciprocity. DEF 14A. Baker Hughes Company names Nabors Industries Ltd in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Patterson-UTI Energy reciprocity. DEF 14A. Patterson-UTI Energy names Nabors Industries Ltd in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, TechnipFMC reciprocity. DEF 14A. TechnipFMC names Nabors Industries Ltd in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Transocean reciprocity. DEF 14A. Transocean names Nabors Industries Ltd in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Valaris reciprocity. DEF 14A. Valaris names Nabors Industries Ltd in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Weatherford International reciprocity. DEF 14A. Weatherford International names Nabors Industries Ltd in its own disclosed peer group (read from its most recent proxy). View filing ↗
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