4//SEC Filing
Flynt Jim D 4
Accession 0001179110-07-019191
CIK 0000318996other
Filed
Oct 1, 8:00 PM ET
Accepted
Oct 2, 5:08 PM ET
Size
12.5 KB
Accession
0001179110-07-019191
Insider Transaction Report
Form 4
Flynt Jim D
SVP - Western Region
Transactions
- Disposition to Issuer
Employee Stock Option (right to buy)
2007-10-02−25,000→ 0 totalExercise: $8.50Exp: 2010-04-18→ Common Stock (25,000 underlying) - Award
Employee Stock Option (right to buy)
2007-10-02+25,000→ 25,000 totalExercise: $8.87Exp: 2010-04-18→ Common Stock (25,000 underlying)
Footnotes (2)
- [F1]In a Form 3 filed on March 14, 2003, the reporting person reported that, on April 18, 2000, he was granted an employee stock option covering 50,000 shares of common stock, having an exercise price of $8.50 per share (the market price of the stock on April 18, 2000), and vesting (i) 12,500 shares on 4/18/2000 provided the stock price reaches $13, (ii) 12,500 on 4/18/2001 provided the stock price reaches $15, (iii) 12,500 on 4/18/2002 provided the stock price reaches $17 and (iv) 12,500 on 4/18/2003 provided the stock price reaches $20.
- [F2]It was recently determined that the actual date of grant of that option was April 27, 2000, when the market price of the Company's common stock was $8.87 per share. To avoid adverse tax consequences resulting from vesting of a "discounted option" after December 31, 2004, the reporting person and the Company agreed to amend the option to provide that, with respect to the portion of the option vesting after December 31, 2004 (representing 25,000 shares), the option will have an exercise price of $8.87 per share. The amendment is reported in this Form 4 as a cancellation of a portion of the original option and the grant of a replacement option. In connection with the amendment, the reporting person became entitled to receive, on January 4, 2008, a cash payment of $9,250, which is the amount of the increase in the aggregate exercise price of the option. The original option remains exercisable for 25,000 shares at the original exercise price of $8.50 per share.
Documents
Issuer
KEY ENERGY SERVICES INC
CIK 0000318996
Entity typeother
Related Parties
1- filerCIK 0001316473
Filing Metadata
- Form type
- 4
- Filed
- Oct 1, 8:00 PM ET
- Accepted
- Oct 2, 5:08 PM ET
- Size
- 12.5 KB