SEC Form 4 · accession 0001532930-16-000116
Seventy Seven Energy Inc. · SVNT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James Minmier
Officer — See Remarks
Period of report
Jan 27, 2016
Accepted (ET)
Feb 2, 2016 · 5:01 pm EST
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,F2 | Jan 27, 2016 | A | 14,067 | $0.00 | A | 475,533 | D | |
| Common Stock | holding | — | — | — | 3,682 | I | 401(k) Plan |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents phantom stock units ("Phantom Units") acquired through Company matching contributions of the reporting person's eligible deferrals under the Seventy Seven Energy Inc. Deferred Compensation Plan (the "Plan"). The Phantom Units will (i) be payable only in whole shares of Company common stock, and (ii) vest in four equal annual installments commencing on the date of acquisition so long as the reporting person is employed by the Company or its affiliates on such date, unless vesting is otherwise accelerated pursuant to the terms of the Plan.
- F2Reflects the transfer of 132,944 shares to the reporting person's former spouse pursuant to a Consent Decree of Dissolution of Marriage. The securities owned by the reporting person's former spouse are no longer beneficially owned by the reporting person.
Remarks
President - Nomac Drilling, L.L.C.