NABORS INDUSTRIES LTD 8-K

What Happened
Nabors Industries Ltd (NBR) filed an 8-K on June 5, 2026 reporting the results of its June 2, 2026 Annual Meeting. Holders of 12,866,339 shares (80.61% of outstanding shares entitled to vote) participated. All director nominees were elected by a majority of votes cast under the Company’s bye-laws and board resignation policy. PricewaterhouseCoopers LLP was reappointed as independent auditor. The advisory vote on executive compensation (say-on-pay) was not approved by shareholders, while Amendment No. 5 to the Company’s Amended and Restated 2016 Stock Plan was approved.

Key Details

• Meeting participation: 12,866,339 shares voted (80.61% of shares entitled to vote).
• Directors: All nominees were elected by a majority; examples of vote counts: David J. Tudor 10,980,836 For / 359,318 Withheld; Tanya S. Beder 8,812,944 For / 2,527,210 Withheld.
• Independent auditor: PricewaterhouseCoopers LLP approved — For 12,529,135; Against 297,829; Abstain 39,375 (97.38% For).
• Say-on-pay (advisory vote on named executive officer compensation): Not approved — For 3,823,997 (33.72%); Against 7,497,073; Abstain 19,084; Nonvotes 1,526,185.
• Stock plan amendment: Amendment No. 5 to the 2016 Stock Plan approved — For 10,292,678 (90.76% of votes cast); Against 1,032,052; Abstain 15,424; Nonvotes 1,526,185.

Why It Matters

• Governance: Re-election of the board and PwC’s appointment maintain leadership and audit continuity. The company’s resignation policy for nominees failing to receive majority support is in place, but was not triggered because all nominees were elected.
• Investor signal: The decisive rejection of the advisory say-on-pay vote (only ~34% support) is a clear shareholder rebuke of executive compensation and could prompt the board and compensation committee to review and potentially revise pay practices.
• Corporate actions: Strong shareholder approval of the stock plan amendment supports the company’s equity compensation framework, which affects future equity awards and dilution considerations for investors.