4//SEC Filing
Simons Jennifer Fremont 4
Accession 0000076321-19-000028
CIK 0000076321other
Filed
Mar 27, 8:00 PM ET
Accepted
Mar 28, 5:20 PM ET
Size
19.3 KB
Accession
0000076321-19-000028
Insider Transaction Report
Form 4
Simons Jennifer Fremont
VP, General Counsel&Secretary
Transactions
- Award
401K Common Stock
2019-03-26+7→ 7 total(indirect: By 401(k)) - Award
Restricted Stock Units
2019-03-26+30,996→ 30,996 total→ Common Stock (30,996 underlying) - Disposition to Issuer
Common Stock
2019-03-26−1,225→ 0 total - Award
Option (Employee Right to Buy)
2019-03-26+46,494→ 46,494 totalExercise: $23.00→ Common Stock (46,494 underlying) - Disposition to Issuer
401K Common Stock
2019-03-26−517.52→ 0 total(indirect: By 401(k)) - Award
Common Stock
2019-03-26+17→ 17 total - Award
Warrants (right to buy)
2019-03-26+287→ 287 totalExercise: $48.85→ Common Stock (287 underlying)
Footnotes (12)
- [F1]On December 12, 2018, Parker Drilling Company (the "Issuer") and certain of its U.S. subsidiaries, (collectively, with the Issuer, the "Debtors"), filed voluntary petitions in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the "Bankruptcy Court") seeking relief under the provisions of Chapter 11 of Title 11 of the United States Bankruptcy Code. On March 7, 2019, the Bankruptcy Court entered an order confirming the Debtors' Amended Joint Chapter 11 Plan of Reorganization, dated as of January 21, 2019 (as amended, modified or supplemented from time to time, the "Plan"), and on March 26, 2019 (the "Effective Date"), the Plan became effective pursuant to its terms and the Debtors emerged from bankruptcy.
- [F10]The stock options expire on the tenth anniversary of the Effective Date.
- [F11]In accordance with the Plan, the Reporting Person also received Warrants to purchase New Shares in exchange for Old Common Stock held by the Reporting Person on the Effective Date.
- [F12]On the Effective Date, the Issuer and Equiniti Trust Company, a limited trust company organized under the laws of the State of New York, entered into the Warrant Agreement, dated as of the Effective Date (the "Warrant Agreement") pursuant to which each warrant became exercisable for one New Share. The warrants were exercisable from the date of issuance and expire at 5:00 p.m., New York City time, on the fifth and a half anniversary of the Effective Date.
- [F2]On the Effective Date, all outstanding shares of the Issuer's common stock ("Old Common Stock") were cancelled and extinguished.
- [F3]Shares of Issuer common stock in the Reporting Person's 401(k) plan.
- [F4]New shares of the Issuer's common stock, $0.01 par value per share (the "New Shares") were issued to the Reporting Person pursuant to the Plan in exchange for Old Common Stock held by the Reporting Person on the Effective Date under the Plan. The receipt of New Shares was involuntary, without additional consideration and in accordance with the Plan approved by the Bankruptcy Court.
- [F5]Each restricted stock unit ("Restricted Stock Unit") represents a contingent right to receive one New Share.
- [F6]In accordance with the Plan, the Reporting Person received an award of Restricted Stock Units.
- [F7]The Restricted Stock Units will vest as follows: (i) one-third (1/3) on the first anniversary of the Effective Date; (ii) one-third (1/3) on the second anniversary of the Effective Date; and (iii) one-third on the third anniversary of the Effective Date. The Restricted Stock Units do not expire. The vested Restricted Stock Units will settle as soon as practicable following each applicable vesting date.
- [F8]In accordance with the Plan, the Reporting Person received an award of stock options.
- [F9]The stock options will vest and become exercisable as follows: (i) one-third (1/3) on the first anniversary of the Effective Date; (ii) one-third (1/3) on the second anniversary of the Effective Date; and (iii) one-third on the third anniversary of the Effective Date.
Documents
Issuer
PARKER DRILLING CO /DE/
CIK 0000076321
Entity typeother
Related Parties
1- filerCIK 0001736375
Filing Metadata
- Form type
- 4
- Filed
- Mar 27, 8:00 PM ET
- Accepted
- Mar 28, 5:20 PM ET
- Size
- 19.3 KB