Lannen Eric 4
4 · BASIC ENERGY SERVICES, INC. · Filed May 19, 2021
Insider Transaction Report
Form 4
Lannen Eric
Vice President -Human Resource
Transactions
- Exercise/Conversion
Common Stock
2021-05-17+8,421→ 74,482 total - Disposition to Issuer
Common Stock
2021-05-17$0.10/sh−8,421$884→ 66,061 total - Exercise/Conversion
Time-Based Phantom Shares
2021-05-17−8,421→ 8,421 total→ Common Stock (8,421 underlying) - Tax Payment
Common Stock
2021-05-17$0.10/sh−2,051$215→ 66,061 total
Footnotes (3)
- [F1]In connection with the vesting of restricted stock, 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 Fair Market Value (as defined in the Basic Energy Services, Inc. 2019 Long Term Incentive Plan) of the Issuer's common stock on May 14, 2021. Such shares were acquired as treasury stock by the Issuer.
- [F2]Represents vesting of cash-settled time-based phantom shares (the "Phantom Shares") granted under the Basic Energy Services, Inc. 2019 Long Term Incentive Plan. Each Phantom Share is the economic equivalent of one share of Issuer common stock, subject to a maximum settlement amount of $9.00 per Phantom Share. The settlement of the Phantom Shares for cash is reported on this Form 4 as a disposition of the Phantom Shares being settled in exchange for the acquisition of the underlying Issuer common stock, and a simultaneous disposition of the underlying Issuer common stock to the Issuer for cash.
- [F3]5/17/2021