SEC Form 4 · accession 0000899243-17-002969
C&J Energy Services, Inc. · CJ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Donald Jeffrey Gawick
Officer — See Remarks
Period of report
Feb 5, 2017
Accepted (ET)
Feb 7, 2017 · 6:45 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001615817
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 5, 2017 | A | 145,406 | $0.00 | A | 145,406 | D | |
| Common StockF2 | Feb 5, 2017 | F | 20,739 | $42.65 | D | 124,667 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-qualified Stock OptionF3 | $42.65 | Feb 5, 2017 | A | 100,642 | A | — | Feb 5, 2027 | Common Stock | 100,642 | 100,642 | D |
Explanation of responses
- F1These shares of restricted stock, granted under the C&J Energy Services, Inc. 2017 Management Incentive Plan, are subject to a time-based vesting schedule that is contingent on continued employment such that: (i) 34% of the shares vest immediately on the date of grant, (ii) 22% of the shares vest on the first anniversary of the date of grant, (iii) 22% of the shares vest on the second anniversary of the date of grant and (iv) 22% of the shares vest on the third anniversary of the date of grant.
- F2Represents shares that were withheld by the Issuer to satisfy tax withholding obligations of the Reporting Person that arose upon the vesting of restricted stock. The value of such shares is based on a reasonable valuation determination made by the Issuer that takes into account recent trades involving the Issuer's common stock.
- F3These options, granted under the C&J Energy Services, Inc. 2017 Management Incentive Plan, are subject to a time-based vesting schedule that is contingent on continued employment such that: (i) 34% of the options vest and become exercisable immediately on the date of grant, (ii) 22% of the options vest and become exercisable on the first anniversary of the date of grant, (iii) 22% of the options vest and become exercisable on the second anniversary of the date of grant and (iv) 22% of the options vest and become exercisable on the third anniversary of the date of grant, in each case, subject to the earlier expiration of the options.
Remarks
President & Chief Executive Officer