SEC Form 4 · accession 0000899243-19-007138

· PKDSQ

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — President, Drilling Operations

Period of report

Mar 7, 2019

Accepted (ET)

Mar 11, 2019 · 8:05 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000076321

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
401K Common Stock^F1,F2	holding	—	—		—	843	I	401(k)
Common Stock^F2	holding	—	—		—	7,816	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Phantom Stock Units^F2,F5,F3	—	Mar 7, 2019	D	13,996	D	—	—	Common Stock	13,996	0	D
Restricted Stock Units^F2,F5,F4	—	Mar 7, 2019	D	13,996	D	—	—	Common Stock	13,996	0	D

F1Shares of Parker Drilling Company (the "Company") common stock in 401(k).
F2On July 27, 2018, the Company effected a 1-for-15 stock split of its common stock (the "Reverse Stock Split"). The amount of securities reported on this Form 4 have been adjusted to reflect the Reverse Stock Split and rounded down to the nearest whole share.
F3Each phantom stock unit ("PSU") represents a contingent right to receive a cash amount equivalent to one share of Company common stock.
F4Each restricted stock unit ("RSU") represents a contingent right to receive one share of Company common stock.
F5In connection with the Company's corporate reorganization and in accordance with the terms and conditions of the Company's 2010 Long-Term Incentive Plan (as amended and restated as of May 8, 2013), the Company's Compensation Committee determined on March 7, 2019 to cancel all outstanding incentive awards, including RSUs and PSUs. In exchange, the Committee exercised its discretion to determine a reasonable approximation of the value thereof and approved a payment to holders of such RSUs and PSUs of $0.33 per unit.