SEC Form 4 · accession 0000899243-16-026052
Seventy Seven Energy Inc. · SVNT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William Stanger
Officer — See Remarks
Period of report
Jul 28, 2016
Accepted (ET)
Aug 1, 2016 · 7:34 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001532930
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jul 28, 2016 | F | 99,058 | $0.105 | D | 292,581 | D | |
| Common StockF2 | Aug 1, 2016 | J | 292,581 | $0.00 | D | 0 | D | |
| Common StockF2 | Aug 1, 2016 | J | 3,862 | $0.00 | D | 0 | I | 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class B Warrants to purchase Common StockF3 | $69.08 | Aug 1, 2016 | A | 14,641 | A | Aug 1, 2016 | Aug 1, 2021 | Common Stock | 14,641 | 14,641 | D |
| Class B Warrants to purchase Common StockF3 | $69.08 | Aug 1, 2016 | A | 193 | A | Aug 1, 2016 | Aug 1, 2021 | Common Stock | 193 | 193 | I |
| Class C Warrants to purchase Common StockF3 | $86.93 | Aug 1, 2016 | A | 16,268 | A | Aug 1, 2016 | Aug 1, 2023 | Common Stock | 16,268 | 16,268 | D |
| Class C Warrants to purchase Common StockF3 | $86.93 | Aug 1, 2016 | A | 215 | A | Aug 1, 2016 | Aug 1, 2023 | Common Stock | 215 | 215 | I |
Explanation of responses
- F1Reflects shares that were withheld for payment of required withholding taxes upon the vesting of a portion of a previously reported restricted stock award. Pursuant to the Confirmation Order (the "Confirmation Order") issued by the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") on July 14, 2016, all restricted stock and restricted stock units were deemed vested upon the effective date of the Issuer's emergence from Chapter 11, which occurred on August 1, 2016.
- F2Pursuant to the Confirmation Order and Plan of Reorganization approved by the Bankruptcy Court, the Issuer's common stock (SSEIQ) was automatically cancelled on August 1, 2016 without any action on the part of the Reporting Person.
- F3Received on August 1, 2016 after shares of the Issuer's Common Stock were cancelled (as described above), pursuant to the Confirmation Order and Plan of Reorganization approved by the Bankruptcy Court.
Remarks
President - Performance Technologies, L.L.C.