Statement of Changes in Beneficial Ownership (4)
March 11 2020 - 7:10PM
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).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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3235-0287
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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
*
Lannen Eric |
2. Issuer Name and Ticker or Trading Symbol
BASIC ENERGY SERVICES, INC.
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BASX
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Vice President -Human Resource |
(Last)
(First)
(Middle)
801 CHERRY STREET, SUITE 2100 |
3. Date of Earliest Transaction
(MM/DD/YYYY)
3/9/2020 |
(Street)
FORT WORTH, TX 76102
(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 | 3/9/2020 | | M | | 6450 | A | (1)(2) | 69567 | D | |
Common Stock | 3/9/2020 | | F(3) | | 1455 | D | $0.13 | 68112 | D | |
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) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Restricted Stock Units | (2) | 3/9/2020 | | M | | | 6450 | (1) | (1) | Common Stock | 6450.0 | $0 | 0 | D | |
Explanation of Responses: |
(1) | 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) 3,225 on March 15, 2020 and (ii) 3,225 on March 15, 2021. |
(2) | Restricted stock units convert into common stock on a one-for-one basis. |
(3) | 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. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Lannen Eric 801 CHERRY STREET SUITE 2100 FORT WORTH, TX 76102 |
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| Vice President -Human Resource |
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Signatures
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/s/ David S. Schorlemer, Attorney-in-Fact | | 3/11/2020 |
**Signature of Reporting Person | Date |