SEC Form 4 · accession 0001209191-16-156243
KEY ENERGY SERVICES INC · KEG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William F Owens
Director
Period of report
Dec 15, 2016
Accepted (ET)
Dec 20, 2016 · 9:42 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000318996
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock ($0.10 par value)F1 | Dec 15, 2016 | J | 179,714 | — | D | 0 | D | |
| Common Stock ($0.01 par value)F1 | Dec 15, 2016 | J | 917 | — | A | 917 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrant (right to buy)F2 | $43.52 | Dec 15, 2016 | P | 1,034 | A | — | Dec 15, 2020 | Common Stock ($0.01 par value) | 1,034 | 1,034 | D |
| Warrant (right to buy)F2 | $54.40 | Dec 15, 2016 | P | 1,034 | A | — | Dec 15, 2021 | Common Stock ($0.01 par value) | 1,034 | 2,068 | D |
Explanation of responses
- F1In connection with the Issuer's reorganization pursuant to bankruptcy, all unvested restricted stock awards received 100% accelerated vesting. Pursuant to a reclassification exempt under Rule 16b-7, each then-vested share of Common Stock ($0.10 par value) was cancelled, and new vested securities (Common Stock at $0.01 par value) were issued to the insider, along with warrants described below.
- F2The warrant will be exercisable for one share of Common Stock ($0.01 par value) on the earlier to occur of the expiration date or the date of completion of a merger, sale or other reorganization transaction that results in the Common Stock being converted into cash.