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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2014
Stock options |
Share-based compensation disclosures |
Stock option transactions under various stock-based employee compensation plans |
Options |  | Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value |
|  | (In thousands, except exercise price) |
Options outstanding as of December 31, 2013 |  |  | 18,386 |  | $ | 21.10 |  |  |  |  |  |
Granted |  |  | 61 |  |  | 17.93 |  |  |  |  |  |
Exercised |  |  | (3,036 | ) |  | 9.97 |  |  |  |  |  |
Surrendered |  |  | — |  |  | — |  |  |  |  |  |
Forfeited |  |  | (4,107 | ) |  | 23.16 |  |  |  |  |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Options outstanding as of December 31, 2014 |  |  | 11,304 |  | $ | 23.30 |  | 2.81 years |  | $ | 12,976 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Options exercisable as of December 31, 2014 |  |  | 10,955 |  | $ | 23.37 |  | 2.67 years |  | $ | 12,948 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of grant date fair value |
|  | Year Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
Weighted average fair value of options granted |  | $ | 6.76 |  | $ | 6.05 |  | $ | 9.40 |
Weighted average risk free interest rate |  |  | 1.37 | % |  | 0.79 | % |  | 0.63 | %
Dividend yield |  |  | 1.21 | % |  | 0.84 | % |  | 0 | %
Volatility(1) |  |  | 51.01 | % |  | 51.01 | % |  | 55.74 | %
Expected life |  |  | 4.0 years |  |  | 4.0 years |  |  | 4.0 years |
(1) | Expected volatilities are based on implied volatilities from publicly traded options to purchase Nabors' common shares, historical volatility of Nabors' common shares and other factors.
Unvested stock options |
Unvested Stock Options |  | Outstanding |  | Weighted-Average Grant-Date Fair Value |
|  | (In thousands, except fair value) |
Unvested as of December 31, 2013 |  |  | 549 |  | $ | 8.88 |
Granted |  |  | 61 |  |  | 5.61 |
Vested |  |  | (248 | ) |  | 8.02 |
Forfeited |  |  | (13 | ) |  | 4.83 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unvested as of December 31, 2014 |  |  | 349 |  | $ | 9.08 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Restricted Stock |
Share-based compensation disclosures |
Unvested restricted stock |
Restricted stock |  | Outstanding |  | Weighted-Average Grant-Date Fair Value |
|  | (In thousands, except fair value) |
Unvested as of December 31, 2013 |  |  | 3,764 |  | $ | 18.26 |
Granted |  |  | 1,169 |  |  | 22.80 |
Vested |  |  | (1,270 | ) |  | 19.45 |
Forfeited |  |  | (181 | ) |  | 20.23 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unvested as of December 31, 2014 |  |  | 3,482 |  | $ | 19.25 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Restricted Stock Based on Market Conditions |
Share-based compensation disclosures |
Schedule of grant date fair value |
|  | Year ended December 31, |
|  | 2014 |  | 2013 |
Risk free interest rate |  |  | 0.80 | % |  | 0.41 | %
Expected volatility |  |  | 40.00 | % |  | 46.00 | %
Closing stock price at grant date |  | $ | 18.19 |  | $ | 16.53 |
Expected term (in years) |  |  | 2.97 |  |  | 2.82 |
Unvested restricted stock |
Market based restricted stock |  | Outstanding |  | Weighted-Average Grant-Date Fair Value |
|  | (In thousands, except fair value) |
Outstanding as of December 31, 2013 |  |  | 354 |  | $ | 10.42 |
Granted |  |  | 395 |  |  | 11.40 |
Vested |  |  | — |  |  | — |
Forfeited |  |  | — |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding as of December 31, 2014 |  |  | 749 |  | $ | 10.94 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​

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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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