Faust Michael 4
4 · PARKER DRILLING CO /DE/ · Filed Nov 6, 2019
Insider Transaction Report
Form 4
Faust Michael
Director
Transactions
- Award
Restricted Stock Units
2019-11-04+15,907→ 15,907 total→ Common Stock (15,907 underlying)
Footnotes (2)
- [F1]Each restricted stock unit represents a contingent right to receive one share of common stock of Parker Drilling Company (the "Issuer").
- [F2]Pursuant to the terms of an Incentive Award Agreement for Outside Directors ("Agreement") by and between the Issuer and Michael Faust, effective November 4, 2019, Mr. Faust was awarded 15,907 Restricted Stock Units ("RSUs") which will vest ratably on March 26 in the years 2020, 2021, and 2022, subject to the terms of the Agreement. The RSUs will settle upon the earlier of (i) a Change in Control, (ii) the date of Mr. Faust's termination of service as a member of the Board of Directors of the Issuer other than for cause, (iii) the date of Grantee's death, or (iv) the date that is the seventh anniversary of the Grant Date, provided that the Awards have not been earlier forfeited under the terms of the Agreement.