SEC Form 4 · accession 0001109189-18-000123
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
Aug 15, 2018
Accepted (ET)
Aug 20, 2018 · 8:32 pm EDT
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 | Aug 15, 2018 | M | 120,959 | $0.00 | A | 169,311 | D | |
| Common Stock | Aug 15, 2018 | F | 44,238 | $8.53 | D | 125,073 | 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 | — | Aug 15, 2018 | M | 29,678 | D | — | — | Common Stock | 29,678 | 75,319 | D |
| Restricted Stock UnitsF1,F4 | — | Aug 15, 2018 | M | 59,357 | D | — | — | Common Stock | 59,357 | 15,962 | D |
| Restricted Stock UnitsF1,F5 | — | Aug 15, 2018 | M | 15,962 | D | — | — | Common Stock | 15,962 | 0 | D |
| Restricted Stock UnitsF1,F6 | — | Aug 15, 2018 | A | 15,962 | A | — | — | Common Stock | 15,962 | 15,962 | D |
| Restricted Stock UnitsF1,F6 | — | Aug 15, 2018 | M | 15,962 | D | — | — | Common Stock | 15,962 | 0 | 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 August 15, 2018. Such shares were acquired as treasury stock by the Issuer.
- F3On December 23, 2016, the Reporting Person was granted 89,036 restricted stock units, which vest in three equal annual installments beginning on December 23, 2016. In connection with the Reporting Person's retirement effective August 15, 2018, all unvested restricted stock units vested in full.
- F4On February 22, 2017, the Reporting Person was granted 89,036 restricted stock units, which vest in three equal annual installments beginning on February 8, 2018. In connection with the Reporting Person's retirement effective August 15, 2018, all unvested restricted stock units vested in full.
- F5On February 8, 2018, the Reporting Person was granted 15,962 restricted stock units, which vest in three equal annual installments beginning on February 8, 2019. In connection with the Reporting Person's retirement effective August 15, 2018, all unvested restricted stock units vested in full.
- F6Represents earning of performance-based restricted stock units that were initially granted on February 8,2018. In connection with the Reporting Person's retirement effective August 15, 2018, all such performance-based restricted stock units were earned at 100% and vested in full.
Remarks
Exhibit List: Exhibit 24.1 Power of Attorney