FORM 4
[ ] 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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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

DiNello Anthony Joseph
2. Issuer Name and Ticker or Trading Symbol

BASIC ENERGY SERVICES INC [ BAS ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

TWO GREENWICH PLAZA, FIRST FLOOR
3. Date of Earliest Transaction (MM/DD/YYYY)

5/15/2019
(Street)

GREENWICH, CT 06830
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   (1) 5/15/2019     A    20000   (1) A $0   20000   (2) D  
 

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
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     (3) 5/15/2019     A      7700         (3)   (3) Common Stock   7700   $0   7700   (2) D  
 

Explanation of Responses:
(1)  Represents a grant of 20,000 time based restricted shares to the reporting person, a director of the issuer and employee of Silver Point Capital, L.P. ("Silver Point"), that was awarded pursuant to the Basic Energy Services, Inc. Non-Employee Director Incentive Plan (the "Plan"). These restricted shares will vest on May 15, 2020.
(2)  The reporting person has an understanding with Silver Point pursuant to which he holds shares for the benefit of Silver Point and certain of its affiliates. Accordingly, the reporting person disclaims beneficial ownership of the shares except to the extent of his pecuniary interest therein.
(3)  Represents a grant of 7,700 restricted stock units to the reporting person that was awarded pursuant to the Plan. These restricted stock units will vest on May 15, 2020, and will be settled in cash based on the fair market value of the issuer's common stock on such date (such payment not to exceed $9 per restricted stock unit), subject to the reporting person's continued service with the issuer.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
DiNello Anthony Joseph
TWO GREENWICH PLAZA, FIRST FLOOR
GREENWICH, CT 06830
X



Signatures
/s/ Anthony DiNello 5/17/2019
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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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