SEC Form 4 · accession 0001434842-17-000047
Forbes Energy Services Ltd. · FLSS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
L Melvin Cooper
Officer — Senior Vice President & CFO
Period of report
Aug 28, 2017
Accepted (ET)
Sep 1, 2017 · 4:51 pm 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 | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.01F1 | Aug 28, 2017 | M | 9,279 | $0.00 | A | 9,279 | 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 UnitsF2,F3 | — | Aug 28, 2017 | A | 86,395 | A | — | — | Common Stock, par value $0.01 | 86,395 | 86,395 | D |
| Restricted Stock UnitsF1 | — | Aug 28, 2017 | M | 9,279 | D | — | — | Common Stock, par value $0.01 | 9,279 | 77,116 | D |
Explanation of responses
- F1Represents fifty percent (50%) of the restricted stock units that vested in accordance with the provisions in a grant made on August 28, 2017 that the Reporting Person had elected not to defer pursuant to the Reporting Person's settlement deferral election form filed with the Company.
- F2Each restricted stock unit represents a contingent right to receive one share of Company common stock, par value $0.01 per share.
- F3The restricted stock units vest as follows: twenty percent (20%) vested on August 28, 2017 and the remaining eighty percent (80%) vests in four equal installments on the first, second, third and fourth anniversaries of August 28, 2017. The restricted stock units, once vested, will generally be eligible to receive the applicable number of shares of Company common stock as specified by the Reporting Person in a settlement deferral election form filed with the Company.