SEC Form 4 · accession 0001179110-19-000972
PIONEER ENERGY SERVICES CORP · PES
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lorne Phillips
Officer — EVP & CFO
Period of report
Jan 24, 2019
Accepted (ET)
Jan 28, 2019 · 6:21 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000320575
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 25, 2019 | M | 24,379 | — | A | 281,232 | D | |
| Common Stock | Jan 25, 2019 | F | 7,228 | $1.43 | D | 274,004 | 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 UnitsF1,F2 | — | Jan 24, 2019 | A | 98,864 | A | — | — | Common Stock | 98,864 | 98,864 | D |
| Phantom StockF4,F5,F6 | — | Jan 24, 2019 | A | 98,864 | A | — | — | Common Stock | 98,864 | 98,864 | D |
| Restricted Stock UnitsF1,F3 | — | Jan 25, 2019 | M | 24,379 | D | — | — | Common Stock | 48,758 | 48,758 | D |
Explanation of responses
- F1Restricted Stock Units convert into common stock on a one-for-one basis.
- F2The Restricted stock units vest in three equal annual installments on January 24, 2020, January 24, 2021, and January 24, 2022.
- F3On January 25, 2018, the reporting person was granted 73,137 restricted stock units vesting in three equal annual installments on January 25, 2019, January 25, 2020, and January 25,2021.
- F4Phantom Stock Units ("PSUs") are payable in cash or shares of common stock of Pioneer Energy Services Corp. (the "Company"). The PSUs were awarded pursuant to the Company's Amended and Restated 2007 Incentive Plan.
- F5Each PSU is the economic equivalent of one share of the Company's common stock. Each PSU, when converted to cash or stock, will be equivalent to the average closing price of the Company's common stock for the last 14 consecutive trading days in the month of December immediately prior to the respective vesting date; provided that the maximum vesting date value is $4.62.
- F6The PSUs vest in three equal annual installments on January 24, 2020, 2021 and 2022.
Remarks
Exhibit List: Exhibit 24 - Power of Attorney