SEC Form 4 · accession 0001434842-16-000059

Forbes Energy Services Ltd. · FLSS

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — Executive Vice President & COO · Director · 10% Owner

Period of report

Mar 26, 2016

Accepted (ET)

Mar 29, 2016 · 11:54 am EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001434842

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I
Common Stock^F1	Mar 26, 2016	M	58,098	$0.00	A	2,851,204	D
Common Stock^F1	Mar 26, 2016	D	58,098	$0.48	D	2,793,106	D
Common Stock^F1	Mar 26, 2016	M	64,705	$0.00	A	2,857,811	D
Common Stock^F1	Mar 26, 2016	D	64,705	$0.48	D	2,793,106	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Units^F1,F2	—	Mar 26, 2016	M	58,098	D	—	—	Common Stock	58,098	117,958	D
Restricted Stock Units^F1,F3	—	Mar 26, 2016	M	64,705	D	—	—	Common Stock	64,705	131,373	D

F1On March 26, 2016, the reporting person had an award of restricted stock units that vested in accordance with the provisions in a grant made on June 3, 2015. Each restricted stock unit converts into common stock on a one-for-one basis. The restricted stock units were settled in cash valued at $0.48 per share, based on the market closing price on March 24, 2016. No shares were actually, issued, converted, or sold in connection with this transaction.
F2On June 3, 2015, the reporting person was granted 176,056 restricted stock units, of which 33%, 33% and 34% vests on the first, second and third anniversary of March 26, 2015, respectively.
F3On June 3, 2015, the reporting person was granted 196,078 restricted stock units, of which 33%, 33% and 34% vests on the first, second and third anniversary of March 26, 2015, respectively.