4//SEC Filing
BASIC ENERGY SERVICES INC 4
Accession 0001109189-16-000420
CIK 0001109189operating
Filed
Dec 27, 7:00 PM ET
Accepted
Dec 28, 9:49 PM ET
Size
20.8 KB
Accession
0001109189-16-000420
Insider Transaction Report
Form 4
Bissett John Cody
VP, Controller and CAO
Transactions
- Other
New Common Stock
2016-12-23+76→ 76 total - Exercise/Conversion
New Common Stock
2016-12-23$36.55/sh+8,095$295,861→ 8,171 total - Other
Warrants
2016-12-23+2,099→ 2,099 totalExercise: $55.25From: 2016-12-23Exp: 2023-12-23→ New Common Stock (2,099 underlying) - Sale
New Common Stock
2016-12-23$36.00/sh−22$792→ 5,901 total - Sale
New Common Stock
2016-12-23$36.00/sh−2,248$80,928→ 5,923 total - Exercise/Conversion
Restricted Stock Units
2016-12-23−8,095→ 16,188 total→ New Common Stock (8,095 underlying) - Other
Common Stock
2016-12-23−43,428→ 0 total - Award
Restricted Stock Units
2016-12-23+24,283→ 24,283 total→ New Common Stock (24,283 underlying) - Award
Stock options (right to buy)
2016-12-23+9,713→ 9,713 totalExercise: $36.55Exp: 2026-12-23→ New Common Stock (9,713 underlying)
Footnotes (7)
- [F1]The Issuer and certain of its subsidiaries (collectively with the Issuer, the "Debtors") filed voluntary petitions (the cases commenced thereby, the "Chapter 11 Cases") under chapter 11 of title 11 of the United States Code on October 25, 2016 in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). On December 9, 2016, the Bankruptcy Court entered an order approving the First Amended Joint Prepackaged Chapter 11 Plan of Basic Energy Services, Inc. and its Affiliated Debtors (as confirmed, the "Prepackaged Plan"), and on December 23, 2016 (the "Effective Date"), the Prepackaged Plan became effective pursuant to its terms and the Debtors emerged from the Chapter 11 Cases. On the Effective Date, all outstanding shares of the Issuer's common stock (the "Old Common Stock") were cancelled and extinguished.
- [F2]New shares of the Issuer's common stock, par value $0.01 per share (the "New Common Stock") were issued to all of the Issuer's stockholders (including the Reporting Person) pursuant to the Prepackaged Plan in exchange for the Old Common Stock held by such persons on the Effective Date under the Prepackaged Plan. The receipt of the New Common Stock in exchange for Old Common Stock was involuntary, without consideration and in accordance with the Prepackaged Plan approved by the Bankruptcy Court.
- [F3]Promptly following the vesting date (but no later than 30 days following such vesting date), the restricted stock units will be settled by the Issuer into New Common Stock on a one-for-one basis; provided, the Issuer, it in sole discretion, has the option to settle the Restricted Stock Units in cash (subject to applicable withholding taxes).
- [F4]Shares sold to settle tax withholding obligations through a "broker sale."
- [F5]The restricted stock units vest in three equal annual installments: 1/3 on the Effective Date, 1/3 on December 23, 2017 and 1/3 on December 23, 2018.
- [F6]The option vests in three equal annual installments: 1/3 on December 23, 2017, 1/3 on December 23, 2018 and 1/3 on December 23, 2019.
- [F7]The warrants were issued to the Reporting Person pursuant to the Prepackaged Plan. The receipt of the warrants was involuntary and without consideration.
Documents
Issuer
BASIC ENERGY SERVICES INC
CIK 0001109189
Entity typeoperating
Related Parties
1- filerCIK 0001109189
Filing Metadata
- Form type
- 4
- Filed
- Dec 27, 7:00 PM ET
- Accepted
- Dec 28, 9:49 PM ET
- Size
- 20.8 KB