4//SEC Filing
Wells Louis Spencer 4
Accession 0000076321-19-000105
CIK 0000076321other
Filed
Nov 5, 7:00 PM ET
Accepted
Nov 6, 4:24 PM ET
Size
8.2 KB
Accession
0000076321-19-000105
Insider Transaction Report
Form 4
Wells Louis Spencer
Director
Transactions
- Award
Restricted Stock Units
2019-11-04+7,953→ 7,953 total→ Common Stock (7,953 underlying) - Award
Phantom Stock Units
2019-11-04+7,954→ 7,954 total→ Common Stock (7,954 underlying)
Footnotes (3)
- [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 L. Spencer Wells, effective November 4, 2019, Mr. Wells was awarded 7,953 Restricted Stock Units and 7,954 Phantom Stock Units ("Awards") which will vest ratably on March 26 in the years 2020, 2021, and 2022, subject to the terms of the Agreement. The Awards will settle upon the earlier of (i) a Change in Control, (ii) the date of Mr. Wells' 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.
- [F3]Each phantom stock unit represents a contingent right to receive a cash amount equivalent to the fair market value of one share of the Issuer's common stock on the settlement date.
Documents
Issuer
PARKER DRILLING CO /DE/
CIK 0000076321
Entity typeother
Related Parties
1- filerCIK 0001615237
Filing Metadata
- Form type
- 4
- Filed
- Nov 5, 7:00 PM ET
- Accepted
- Nov 6, 4:24 PM ET
- Size
- 8.2 KB