Forbes Energy Services Ltd. 4
4 · Forbes Energy Services Ltd. · Filed Jan 5, 2016
Insider Transaction Report
Form 4
Burris Travis H.
Director
Transactions
- Disposition to Issuer
Common Stock
2016-01-01$0.29/sh−10,584$3,069→ 100,366 total - Exercise/Conversion
Common Stock
2016-01-01+10,584→ 110,950 total - Exercise/Conversion
Restricted Stock Units
2016-01-01−10,584→ 10,584 total→ Common Stock (10,584 underlying)
Holdings
- 450(indirect: By son)
Common Stock
Footnotes (4)
- [F1]On January 1, 2016, the reporting person had an award of restricted stock units that vested in accordance with the provisions in a grant made on June 15, 2015. Each restricted stock unit converts into common stock on a one-for-one basis. The restricted stock units were settled in cash valued at $0.29 per share, based on the market closing price on December 31, 2015. No shares were actually, issued, converted, or sold in connection with this transaction.
- [F2]The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for the purposes of Section 16 or for any other purpose.
- [F3]On June 15, 2015, the reporting person was granted 42,336 resticted stock units, vesting quarterly in four equal installments beginning on July 1, 2015
- [F4]This amount reflects a correction made to the total amount of derivate securities beneficially owned by the reporting person in the reporting person's Form 4 filed on October 5, 2015. The total amount of derivate securities beneficially owned by the reporting person disclosed in the Form 4 filed on October 5, 2015 was inadvertently incorrect because a transposition error. The number of derivative securities disposed of in the reporting person's Form 4 filed on October 5, 2015 should have been 10,584 and not 10,854.