SEC Form 4 · accession 0001109189-18-000019
BASIC ENERGY SERVICES INC · BAS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James F. Newman
Officer — SVP, Region Operations
Period of report
Feb 8, 2018
Accepted (ET)
Feb 12, 2018 · 8:16 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001109189
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 8, 2018 | M | 29,679 | $0.00 | A | 59,432 | D | |
| Common Stock | Feb 8, 2018 | F | 7,346 | $17.31 | D | 52,086 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F3 | — | Feb 8, 2018 | A | 89,036 | A | — | — | Common Stock | 89,036 | 118,714 | D |
| Restricted Stock UnitsF1,F3 | — | Feb 8, 2018 | M | 29,679 | D | — | — | Common Stock | 29,679 | 89,035 | D |
| Stock Option (right to buy)F4 | $41.93 | Feb 8, 2018 | A | 35,614 | A | — | Feb 22, 2027 | Common Stock | 35,614 | 35,614 | D |
| Restricted Stock UnitsF1,F5 | — | Feb 8, 2018 | A | 15,962 | A | — | — | Common Stock | 15,962 | 104,997 | D |
Explanation of responses
- F1Restricted stock units convert into common stock on a one-for-one basis.
- F2In connection with the vesting of Restricted Stock Units, the Issuer withheld vested shares of common stock and agreed to satisfy the Reporting Person's tax withholding obligations in lieu of cash. The number of vested shares withheld was based on the closing price of the Issuer's common stock on February 8, 2018. Such shares were acquired as treasury stock by the Issuer.
- F3Represents earning of performance-based Restricted Stock Units that were initially granted on February 22, 2017. Performance for the award was measured based on the Issuer's relative total stockholder return (TSR) compared to the TSR of a selected peer group of energy services companies. The Restricted Stock Units vest in three equal annual installments beginning on February 8, 2018.
- F4The Stock Options vest in three equal annual installments beginning on February 8, 2018. Represents earning of performance-based Stock Options that were initially granted on February 22, 2017. Performance for the award was measured based on the Issuer's relative total stockholder return (TSR) compared to the TSR of a selected peer group of energy services companies.
- F5The Restricted Stock Units vest in three equal annual installments beginning on February 8, 2019.