SEC Form 4 · accession 0001704235-19-000025
Quintana Energy Services Inc. · QES
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Daniel Rogers ` Herndon
Officer — See Remarks · Director
Period of report
Feb 9, 2019
Accepted (ET)
Feb 12, 2019 · 4:59 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001704235
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common stockF2 | Feb 9, 2019 | M | 17,417 | — | A | 144,187 | D | |
| Common stockF3 | Feb 9, 2019 | F | 6,829 | $4.95 | D | 137,358 | D | |
| Common stockF2 | Feb 9, 2019 | M | 10,450 | — | A | 147,808 | D | |
| Common stockF5 | Feb 9, 2019 | F | 4,098 | $4.95 | D | 143,710 | 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 UnitF1,F2 | — | Feb 9, 2019 | M | 17,417 | D | — | — | Common stock | 17,417 | 34,833 | D |
| Performance Share UnitF4,F6 | — | Feb 9, 2019 | M | 10,450 | D | — | — | Common stock | 10,450 | 20,900 | D |
Explanation of responses
- F1Represents the conversion upon vesting of certain restricted stock units into common stock of the Company. As previously reported on April 20, 2018, the reporting person was granted 52,250 restricted stock units on April 18, 2018, of which one-third vested on February 9, 2019 in accordance with the Company's 2018 Long Term Incentive Plan. Vesting shall occur on the remaining restricted stock units on the first and second anniversaries of February 9, 2019.
- F2Each restricted stock unit represents the right to receive, upon vesting, one share of Company common stock.
- F3Reflects 6,829 shares withheld by the Company at the market price of $4.95 per share to fund the payment of taxes for the restricted stock unit conversion.
- F4Represents the conversion upon vesting of certain performance share units (PSUs) into common stock of the Company. As previously reported on April 20, 2018, the reporting person was previously awarded 104,500 under the Company's Long Term Incentive Plan on April 18, 2018. The PSUs vest and are settled when they have performance vested in accordance with certain achieved goals that are based on (i) relative total stockholder return and (ii) absolute total stockholder return. It has been determined that 31,350 of those PSUs are earned and eligible for vesting. On February 9, 2019, one-third of the PSUs earned were vested and settled. Should the reporting person satisfy the service requirement applicable to such earned performance units, vesting shall occur on the remaining PSUs in equal installments on the first and second anniversaries of February 9, 2019
- F5Reflects 4,098 shares withheld by the Company at the market price of $4.95 per share to fund the payment of taxes for the performance share unit conversion.
- F6Each performance share unit represents the right to receive, upon vesting, one share of Company common stock.
Remarks
Chief Executive Officer and President