Sumruld Michael W 4
4 · PARKER DRILLING CO /DE/ · Filed Mar 11, 2019
Insider Transaction Report
Form 4
Sumruld Michael W
Sr. VP and CFO
Transactions
- Disposition to Issuer
Restricted Stock Units
2019-03-07−18,632→ 0 total→ Common Stock (18,632 underlying) - Disposition to Issuer
Phantom Stock Units
2019-03-07−11,562→ 0 total→ Common Stock (11,562 underlying)
Holdings
- 2,674
Common Stock
Footnotes (3)
- [F1]Each phantom stock unit ("PSU") represents a contingent right to receive a cash amount equivalent to one share of Parker Drilling Company (the "Company") common stock
- [F2]Each restricted stock unit ("RSU") represents a contingent right to receive one share of Company common stock.
- [F3]In connection with the Company's corporate reorganization and in accordance with the terms and conditions of the Company's 2010 Long-Term Incentive Plan (as amended and restated as of May 8, 2013), the Company's Compensation Committee determined on March 7, 2019 to cancel all outstanding incentive awards, including RSUs and PSUs. In exchange, the Committee exercised its discretion to determine a reasonable approximation of the value thereof and approved a payment to holders of such RSUs and PSUs of $0.33 per unit.