Patterson Thomas Monroe 4
4 · BASIC ENERGY SERVICES, INC. · Filed Nov 26, 2019
Insider Transaction Report
Form 4
Patterson Thomas Monroe
SVP - Rig and Truck Operations
Transactions
- Disposition to Issuer
Restricted Stock Units
2019-09-20−29,743→ 0 total→ Common Stock (29,743 underlying) - Disposition to Issuer
Stock Option (right to buy)
2019-09-20−33,523→ 66,845 totalExercise: $41.93Exp: 2027-02-22→ Common Stock (33,523 underlying) - Disposition to Issuer
Common Stock
2019-09-20−115,905→ 350,977 total - Disposition to Issuer
Time-Based Phantom Shares
2019-09-20−115,905→ 0 total→ Common Stock (115,905 underlying)
Footnotes (4)
- [F1]Represents the forfeiture of 115,905 shares of time vesting restricted stock granted under the Basic Energy Services, Inc. 2019 Long Term Incentive Plan, (the "LTIP"), which were set to vest in one-third increments on May 15, 2020, 2021 and 2022. The shares were forfeited in connection with the Reporting Person's Separation and Release Agreement with the Company, dated as of September 13, 2019 (as amended on October 25, 2019, the "Separation Agreement").
- [F2]Represents the forfeiture of restricted stock units of the Company, which convert into common stock on a one-for-one basis and were set to vest in two equal annual installments, on March 15, 2020 and 2021. The restricted stock units were forfeited in connection with the Separation Agreement.
- [F3]Represents the forfeiture of cash-settled time-based phantom shares granted under the LTIP, which were set to vest in one-third increments on May 15, 2020, 2021 and 2022. Each cash-settled time-based phantom share is the economic equivalent of one share of Company common stock, subject to a maximum settlement amount of $9.00 per phantom share. The cash-settled time-based phantom shares were forfeited in connection with the Separation Agreement.
- [F4]Represents the forfeiture of stock options, which were set to vest on February 8, 2020. The stock options were forfeited in connection with the Separation Agreement.