Sumruld Michael W 4
4 · PARKER DRILLING CO /DE/ · Filed Mar 30, 2020
Insider Transaction Report
Form 4
Sumruld Michael W
Sr. VP and CFO
Transactions
- Exercise/Conversion
Phantom Stock Units
2020-03-26−6,633→ 13,266 total→ Common Stock (6,633 underlying) - Exercise/Conversion
Common Stock
2020-03-26+6,633→ 7,068 total - Exercise/Conversion
Common Stock
2020-03-26+6,633→ 13,701 total - Tax Payment
Common Stock
2020-03-26$30.00/sh−1,616$48,480→ 12,085 total - Disposition to Issuer
Common Stock
2020-03-26$30.00/sh−6,633$198,990→ 5,452 total - Exercise/Conversion
Restricted Stock Units
2020-03-26−6,633→ 13,266 total→ Common Stock (6,633 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]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.
- [F3]On February 21, 2020, the Issuer and the Reporting Person agreed to amend and restate the award agreement concerning the restricted stock units to convert one-half of the restricted stock units into phantom stock units. The restricted stock units and phantom stock units will vest in equal installments on each of March 26, 2020, March 26, 2021 and March 26, 2022. The restricted stock units and phantom stock units do not expire. The vested restricted stock units will settle in shares of Issuer common stock, and the vested phantom stock units will settle in cash at the fair market value of the equivalent number of shares of Issuer common stock, with such settlement to occur as soon as practicable following each applicable vesting date.