Dockray Nathaniel C 4
4 · PARKER DRILLING CO /DE/ · Filed Mar 11, 2019
Insider Transaction Report
Form 4
Dockray Nathaniel C
Chief Accounting Officer
Transactions
- Disposition to Issuer
Restricted Stock Units
2019-03-07−5,876→ 0 total→ Common Stock (5,876 underlying) - Disposition to Issuer
Phantom Stock Units
2019-03-07−3,990→ 0 total→ Common Stock (3,990 underlying)
Holdings
- 617.95(indirect: By 401(k))
401K Common Stock
- 3,727
Common Stock
Footnotes (4)
- [F1]Shares of Parker Drilling Company (the "Company") common stock in 401(k).
- [F2]Each phantom stock unit ("PSU") represents a contingent right to receive a cash amount equivalent to one share of Company common stock.
- [F3]Each restricted stock unit ("RSU") represents a contingent right to receive one share of Company common stock.
- [F4]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.