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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
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. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction 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 (Month/Day/Year) |
7. Title and Amount of Underlying Securities (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) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Restricted Stock Units | (1) | 11/04/2019 | A | 7,953 | (2) | (2) | Common Stock | 7,953.00 | $ 0 | 7,953 | D | ||||
Phantom Stock Units | (3) | 11/04/2019 | A | 7,954 | (2) | (2) | Common Stock | 7,954.00 | $ 0 | 7,954 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
McMahan Barry L 5 GREENWAY PLAZA, SUITE 100 HOUSTON, TX 77046 |
X |
/s/ Barry L. McMahan | 11/05/2019 | |
**Signature of Reporting Person | Date |
* | 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). |
(1) | Each restricted stock unit represents a contingent right to receive one share of common stock of Parker Drilling Company (the "Issuer"). |
(2) | Pursuant to the terms of an Incentive Award Agreement for Outside Directors ("Agreement") by and between the Issuer and Barry McMahan, effective November 4, 2019, Mr. McMahan was awarded 7,953 Restricted Stock Units and 7,954 Phantom Stock Units ("Awards") which will vest ratably on March 26 in the years 2020, 2021, and 2022, subject to the terms of the Agreement. The Awards will settle upon the earlier of (i) a Change in Control, (ii) the date of Mr. McMahan's termination of service as a member of the Board of Directors of the Issuer other than for cause, (iii) the date of Grantee's death, or (iv) the date that is the seventh anniversary of the Grant Date, provided that the Awards have not been earlier forfeited under the terms of the Agreement. |
(3) | Each phantom stock unit represents a contingent right to receive a cash amount equivalent to the fair market value of one share of the Issuer's common stock on the settlement date. |