SEC Form 4 · accession 0001109189-18-000020
BASIC ENERGY SERVICES INC · BAS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Alan Krenek
Officer — SVP, CFO, Secretary, Treasurer
Period of report
Feb 8, 2018
Accepted (ET)
Feb 12, 2018 · 8:17 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 StockF2 | Feb 8, 2018 | S | 300 | $16.9533 | D | 27,820 | D | |
| Common StockF3 | Feb 8, 2018 | M | 29,679 | $0.00 | A | 57,499 | D | |
| Common Stock | Feb 8, 2018 | F | 7,347 | $17.31 | D | 50,152 | 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 UnitsF3,F5 | — | Feb 8, 2018 | A | 89,036 | A | — | — | Common Stock | 89,036 | 118,714 | D |
| Restricted Stock UnitsF3,F5 | — | Feb 8, 2018 | M | 29,679 | D | — | — | Common Stock | 29,679 | 89,035 | D |
| Stock Option (right to buy)F6 | $41.93 | Feb 8, 2018 | A | 35,614 | A | — | Feb 22, 2027 | Common Stock | 35,614 | — | D |
| Restricted Stock UnitsF3,F7 | — | Feb 8, 2018 | A | 15,962 | A | — | — | Common Stock | 15,962 | 104,997 | D |
Explanation of responses
- F1The sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan entered into by the reporting person on August 17, 2017.
- F2Reflects the weighted average sales price for the common stock. These shares were sold in multiple transactions at prices ranging from $16.7100 to $17.3800, inclusive. The reporting person will provide upon request by the SEC staff, the issuer or any security holder of the issuer, full information regarding the number of shares sold at each separate price.
- F3Restricted stock units convert into common stock on a one-for-one basis.
- F4In 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.
- F5Represents 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.
- F6The 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.
- F7The Restricted Stock Units vest in three equal annual installments beginning on February 8, 2019.