Statement of Changes in Beneficial Ownership (4)
August 02 2016 - 5:25PM
Edgar (US Regulatory)
FORM 4
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0287
Estimated average burden
hours per response...
0.5
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
JOHNSRUD MARK D
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2. Issuer Name
and
Ticker or Trading Symbol
Nuverra Environmental Solutions, Inc.
[
OTCQB:NESC
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__
X
__ Director
__
X
__ 10% Owner
__
X
__ Officer (give title below)
_____ Other (specify below)
Chairman of the Board and CEO
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(Last)
(First)
(Middle)
C/O NUVERRA ENVIRONMENTAL SOLUTIONS, INC, 14624 N. SCOTTSDALE RD., SUITE 300
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3. Date of Earliest Transaction
(MM/DD/YYYY)
7/29/2016
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(Street)
SCOTTSDALE, AZ 85254
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_
X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock
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7/29/2016
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A
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19531250
(1)
(2)
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A
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$0.256
(3)
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29165984
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D
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Common Stock
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7/29/2016
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A
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781250
(1)
(2)
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A
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$0.32
(4)
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29947234
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D
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Common Stock
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1305
(5)
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I
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401(k)
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Common Stock
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655000
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I
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By JPJ LP
(6)
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Common Stock
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98234375
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I
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By Badlands Development II, LLC
(7)
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Table II - Derivative Securities Beneficially Owned (
e.g.
, puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code
(Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
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8. Price of Derivative Security
(Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Explanation of Responses:
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(
1)
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An aggregate of 20,312,500 shares of the issuer's common stock was deposited in escrow for the benefit of the reporting person in exchange for an early release from escrow of $5.0 million securing the reporting person's backstop obligation in connection with the issuer's planned $5.0 million equity rights offering (the "Rights Offering"). Of the 20,312,500 shares of common stock, 19,521,250 shares represent shares of common stock underlying the subscription rights to be distributed to the issuer's stockholders in the Rights Offering, and 781,250 shares represent shares of common stock underlying the 5% backstop fee payable to the reporting person. All of the 20,312,500 shares of common stock were deposited into escrow by the issuer and will be disbursed to the reporting person upon consummation of the Rights Offering or other specified triggers.
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(
2)
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(Continued from Footnote 1) Upon consummation of the Rights Offering, the number of shares from escrow to be disbursed to the reporting person will be reduced by the aggregate number of shares of common stock subscribed for in the Rights Offering and the corresponding number of shares of common stock underlying the backstop fee payable to the reporting person. Any shares not disbursed to the reporting person from escrow will be returned to the issuer.
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(
3)
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This price reflects the subscription price per share of common stock for each non-transferrable subscription right to be distributed to the issuer's stockholders in the Rights Offering.
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(
4)
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This price reflects the issuance price per share for the 5% backstop fee payable to the reporting person for his $5.0 million Rights Offering backstop obligation.
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(
5)
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Represents shares of common stock acquired through the issuer's 401(k) Match Plan as of June 14, 2016, through which the issuer previously matched its employees' cash contributions with common stock.
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(
6)
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These securities are owned directly by JPJ LP, and may also be deemed to be beneficially owned by Mark D. Johnsrud, who controls the entity.
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(
7)
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These securities are owned directly by Badlands Development II, LLC, and may also be deemed to be beneficially owned by Mark D. Johnsrud, who owns 100% of the units and acts as its sole managing member.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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JOHNSRUD MARK D
C/O NUVERRA ENVIRONMENTAL SOLUTIONS, INC
14624 N. SCOTTSDALE RD., SUITE 300
SCOTTSDALE, AZ 85254
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X
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X
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Chairman of the Board and CEO
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Signatures
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/s/ Joseph M. Crabb, attorney-in-fact
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8/2/2016
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 4(b)(v).
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**
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See
18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient,
see
Instruction 6 for procedure.
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Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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