Guillermo Sierra
About Guillermo Sierra
Guillermo Sierra serves as Vice President—Energy Transition at Nabors Energy Transition Corp. II (NETD) and Vice President, Strategic Initiatives—Energy Transition at Nabors since April 24, 2021. He previously served as Vice President – Energy Transition of NETC I until its business combination in December 2023. Sierra has executed over 60 transactions totaling more than $200 billion across energy infrastructure, technology, capital markets, and M&A; he holds a B.S. in Economics (cum laude) from Wharton (Finance and Operations & Information Management). NETD discloses no executive TSR/revenue/EBITDA performance metrics tied to officer compensation; officers receive no cash compensation prior to a business combination .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nabors Industries Ltd. | VP, Strategic Initiatives—Energy Transition | Apr 2021–present | Led energy transition initiatives leveraging Nabors’ platform |
| NETC I (prior SPAC) | VP – Energy Transition | Apr 2021–Dec 18, 2023 | Supported SPAC execution until business combination close |
| Blackline Partners | Partner; EVP Head of Strategy (Blackline Midstream); EVP Head of Strategy (Blackline Cold Storage) | Aug 2019–Dec 2020 (EVP Midstream: Aug 2019–Mar 2020; Cold Storage: Mar 2020–Nov 2020) | Corporate strategy across midstream and cold storage assets |
| Macquarie Capital | Managing Director, Head of North America Midstream Advisory | Sep 2016–Dec 2018 | Led midstream advisory; transactions and client coverage |
| Credit Suisse | Senior Director, Head of MLP/Midstream M&A | Jul 2015–Sep 2016 | Led MLP/midstream M&A coverage and execution |
| USD Group LLC & USD Partners | VP, Chief Strategy Officer, Head of M&A | Prior years (not dated) | Strategy and M&A for logistics/energy assets |
| Evercore Partners | Vice President—Energy M&A | Prior years (not dated) | Energy M&A advisory execution |
| Barclays Capital | Global Natural Resources Group | Prior years (not dated) | Natural resources investment banking |
External Roles
| Organization | Role | Status |
|---|---|---|
| Sage Geosystems Inc. | Senior Advisor to CEO; Board Observer | Current |
| Quaise Energy, Inc. | Board Observer | Current |
| Hephae Energy Technology | Board Observer | Current |
| UCAP Power, Inc. | Board Observer | Current |
Fixed Compensation
| Component | FY 2024 | FY 2025 (to date) |
|---|---|---|
| Base salary ($) | None – officers receive no cash compensation prior to a business combination | None – officers receive no cash compensation prior to a business combination |
| Target annual bonus (%) | Not applicable | Not applicable |
| Actual bonus paid ($) | Not applicable | Not applicable |
| Administrative support (company reimburses sponsor) | $15,000/month (paid to sponsor or affiliate; not officer pay) | $15,000/month (paid to sponsor or affiliate; not officer pay) |
NETD states “none of our officers or directors have received any cash compensation,” with only sponsor reimbursement for office/administrative support .
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| RSUs/PSUs | Not awarded prior to business combination | — | — | — | — | — |
| Options (company awards) | Not awarded prior to business combination | — | — | — | — | — |
| Private Placement Warrants (purchased) | Officers/directors (and Nabors Lux) purchased an aggregate 8,727,510 warrants at $1.00; exercisable 30 days post-business combination at $11.50; will be worthless if company winds up without a combination | — | — | — | — | Contingent on completing a business combination |
NETD is now pursuing indefinite existence to receive settlement/notes proceeds rather than a business combination; private warrants purchased by certain officers/directors are at risk of being worthless absent a combination .
Equity Ownership & Alignment
| Holder | Class A Shares | Class F/Founder Shares | Approx. % of Outstanding | Notes |
|---|---|---|---|---|
| Guillermo Sierra | — | — | — | No direct beneficial ownership; disclaims any beneficial ownership in sponsor other than pecuniary interest through Greens Road Energy II LLC |
| Sponsor (Nabors Energy Transition Sponsor II LLC) | — | 7,475,000 | 35.0% (as of Oct 2025 record base 21,349,863 shares) | Class F converts to Class B at business combination; Class B then convertible to Class A; subject to forfeiture/surrender |
| Independent directors (each) | — | 50,000 | * (each) | Founder shares issued to independents upon sponsor forfeiture |
- Pledging/hedging: No pledging or hedging disclosures for Sierra; no insider trading policy adopted pre-combination (expected to be adopted post-business combination) .
- Ownership guidelines: Not disclosed.
- Vested vs unvested: Not applicable—no direct equity awards to Sierra .
Employment Terms
| Item | Disclosure |
|---|---|
| Employment agreement | None disclosed; company not party to any agreements providing benefits upon termination for officers/directors |
| Severance | Not disclosed; no termination benefits agreements for officers/directors |
| Change-of-control | Not disclosed; no officer CoC economics; sponsor founder shares and warrants governed by SPAC terms |
| Indemnification | Indemnification agreement entered July 13, 2023 with Sierra (and others) for fullest extent permitted; advancement of expenses |
| Non-compete/non-solicit | Not disclosed |
| Garden leave/post-termination consulting | Not disclosed |
| Administrative Support Agreement | $15,000/month reimbursed to sponsor or affiliate for office/admin support (company expense; not officer pay) |
| Insider trading policy | Not adopted by NETD pre-combination; expected to be adopted by post-business combination company |
Related Party and Financing Context
- Overfunding loans: Nabors Lux and certain officers/directors loaned $2,787,490 of $3,050,000 in overfunding loans to ensure $10.10 per public share in trust; repayable on business combination or convertible into warrants at $1.00; if liquidated, not repaid from trust .
- Settlement/Notes and distributions: Following Oct 14, 2025 settlement with e2, NETD intends indefinite existence solely to receive payments under secured notes ($29.23 million total across two notes) and potential Trigger Event payment; Board may distribute net proceeds pro rata among non-redeemed Class A and Class F; up to $0.50 per non-redeemed share and up to 100% of future trust interest may be withdrawn to pay fees/expenses .
Investment Implications
- Pay-for-performance alignment: Sierra has no cash pay, bonuses, or company equity awards—alignment is primarily via indirect pecuniary interest in sponsor founder shares and any private placement warrants purchased among “certain officers,” which now have limited monetization paths given NETD’s stated intent not to consummate a business combination .
- Insider selling pressure: Absent a business combination, private warrants become worthless; founder shares convert only at a combination—near-term selling pressure risk is low, but economic realization for insiders shifts to settlement/notes distributions where Class F participates pro rata with non-redeemed Class A .
- Retention risk: With no employment agreement, severance, or change-of-control protections, retention depends on sponsor/Nabors ties and future distributions; minimal guaranteed compensation may reduce retention risk in a non-operating SPAC structure but provides limited incentives beyond sponsor economics .
- Governance signals: Lack of pre-combination insider trading policy and heavy sponsor economics (35% founder shares) warrant attention; indemnification is standard. Related loans and warrant purchases create potential conflicts but are typical of SPAC structures; Board discloses interests and potential delisting following redemptions .