Hard Reset LG E960 Nexus 4

First method:

1. At the beginning switch off the phone by using the Power button.
2. Afterwards press and hold  Volume Down + Power key for a couple of seconds.
3. Release held keys when the Bootloader Menu appears on the screen
4. In the next step choose Recovery by using the Volume buttons to navigatle andPower key to confirm.
5. The Android Robot should appear on the display.
6. To enter the Recovery Mode hold down the Volume Up and Power button for a short while.
7. Select the "Wipe data / Factory reset" by using the Volume buttons and press the  Power key for confirmation.
8. Then choose "Yes--delete all user data". Use Volume Down to scroll and Power button to select.
9. To restart the phone, select "reboot system now".
10. Success! The hard reset is done!

Second method:

1. Turn on the phone by using the Power button. 
2. After pressing the Home button go to Settings and then to Backup & reset.
3. Choose the Factory Data Reset.
4. Tap Reset Phone. 
5. Select Erase Everything if you are sure you want to clear all your data. 
6. Well done!

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WARNING !
Hard Reset will erase all of your data
All described operations you are doing at your own risk.