Newman James F. 4
4 · BASIC ENERGY SERVICES, INC. · Filed Mar 11, 2020
Insider Transaction Report
Form 4
Newman James F.
See Remarks
Transactions
- Exercise/Conversion
Common Stock
[F1][F2]2020-03-09+10,640→ 175,402 total - Tax Payment
Common Stock
[F3]2020-03-09$0.13/sh−2,492$324→ 172,910 total - Exercise/Conversion
Restricted Stock Units
[F2][F1]2020-03-09−10,640→ 0 total→ Common Stock (10,640 underlying)
Footnotes (3)
- [F1]The Compensation Committee of the Board of Directors of the Issuer approved accelerated vesting of the Reporting Person's restricted stock units that were otherwise scheduled to vest as follows: (i) 5,320 on March 15, 2020 and (ii) 5,320 on March 15, 2021.
- [F2]Restricted stock units convert into common stock on a one-for-one basis.
- [F3]In connection with the vesting of restricted stock units, the Issuer withheld vested shares of common stock and agreed to satisfy the Reporting Person's tax withholding obligations in lieu of cash. The number of vested shares withheld was based on the closing price of the Issuer's common stock on March 9, 2020. Such shares were acquired as treasury stock by the Issuer.
Signature
/s/ David S. Schorlemer, Attorney-in-Fact|2020-03-11