Nabors Energy Transition (NETC) 10% owner Nabors Energy Transition Sponsor returned to the company 2,400,000 shares

Insider transactions reported

Nabors Energy Transition Sponsor LLC (10% owner at Nabors Energy Transition Corp., NETC) reported that they returned to the company 2,400,000 shares, and disposed of 4,325,000 shares between Dec 14, 2023 and Dec 18, 2023.

Reporting person

Nabors Energy Transition Sponsor LLC

Options and other derivatives

Holdings before and after

• Class F Common Stock: 6,725,000 to 0 direct

Footnotes from the filing

1. 1. The shares of the Issuer's Class F common stock, par value $0.0001 per share ( NETC Class F Common Stock ) are automatically convertible into shares of the Issuer's Class B common stock, par value $0.0001 per share ( NETC Class B Common Stock ) at the time of the Issuer's initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, and have no expiration date. Prior to and following the Issuer's initial business combination, the shares of NETC Class B Common Stock will be convertible, at the option of the holder, into shares of the Issuer's Class A common stock, par value $0.0001 per share.
2. 2. On December 14, 2023, Nabors Energy Transition Sponsor LLC effectuated a pro rata distribution of 4,325,000 of its shares of NETC Class F Common Stock to its members.
3. 3. Nabors Energy Transition Sponsor LLC (the Sponsor ) is the record holder of the shares reported herein. The Sponsor is owned by Nabors Lux 2 S.a.r.l. and Greens Road Energy LLC, a Delaware limited liability company ( Greens Road ). Nabors Lux 2 S.a.r.l. is a wholly owned subsidiary of Nabors Industries Ltd., an affiliate of the Sponsor ( Nabors ). Anthony G. Petrello is the Chairman, President and Chief Executive Officer of Nabors. Greens Road is controlled by Anthony G. Petrello. As such, Nabors Lux 2 S.a.r.l., Greens Road and Anthony G. Petrello may be deemed to have or share beneficial ownership of the common stock held directly by the Sponsor.
4. 4. The shares reported herein were disposed of in transactions in connection with the closing of the business combination (the Business Combination ) between the Issuer, Vast, Neptune Merger Sub, Inc. ( Merger Sub ), the Sponsor and Nabors on December 18, 2023.

Transaction codes in this filing

Sale back to the company:

Code D marks a disposition back to the company under an exempt plan, as opposed to a sale in the market.

Other acquisition or disposition:

Code J marks a transaction that fits no other code. The footnotes describe what happened.

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