SEC Form 4 · accession 0001246360-16-005053
PARKER DRILLING CO /DE/ · PKDSQ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jon-Al Duplantier
Officer — Sr. VP, CAO & General Counsel
Period of report
Mar 9, 2016
Accepted (ET)
Mar 11, 2016 · 5:21 pm EST
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 |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Mar 9, 2016 | M | 26,263 | $2.02 | A | 238,339 | D | |
| Common Stock | Mar 9, 2016 | S | 10,500 | $2.04 | D | 227,839 | D | |
| Common StockF4 | Mar 10, 2016 | A | 47,000 | $0.00 | A | 274,839 | D | |
| Common Stock | Mar 10, 2016 | F | 12,855 | $2.09 | D | 261,984 | D | |
| 401K Common StockF1 | holding | — | — | — | 16,461 | I | 401K |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2 | $0.00 | Mar 9, 2016 | M | 26,263 | D | Mar 9, 2016 | Mar 9, 2017 | Common Stock | 26,263 | 223,272 | D |
| Restricted Stock UnitsF2 | $0.00 | Mar 10, 2016 | A | 122,218 | A | Mar 10, 2017 | Mar 10, 2019 | Common Stock | 122,218 | 345,490 | D |
| Phantom Stock UnitsF5 | $0.00 | Mar 10, 2016 | A | 122,218 | A | Mar 10, 2017 | Mar 10, 2019 | Common Stock | 122,218 | 122,218 | D |
Explanation of responses
- F1Shares of PKD common stock in 401(k) as of March 9, 2016.
- F2Each restricted stock unit represents a contingent right to receive one share of PKD common stock.
- F3Sale made pursuant to a prearranged trading plan in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and the policies of the Company regarding transaction in the securities. The trading plan is part of an individual long-term asset diversification, tax and financial planning strategy.
- F4Represents Performance Share Units (PSUs) that vested on March 10, 2016 and were initially granted in May 2013. Each PSU represented the right to receive one share of PKD Common Stock, subject to increase or decrease based upon annual total shareholder return (TSR) of the Company as compared to the TSR for each performance peer of the Company and subject to the discretion of the Compensation Committee to reduce the award by up to 20%. The PSUs awarded represent a payout factor of 1.601 times the initial number of PSUs granted.
- F5Each phantom stock unit represents a contingent right to receive a cash amount equivalent to one share of PKD common stock.