Gates Capital Management, Inc. - Sep 21, 2021 Form 4 Insider Report for ION GEOPHYSICAL CORP (IO)

Role: 10%+ Owner
Signature: Gates Capital Management, L.P., By: Gates Capital Management GP, LLC, its general partner, By: Gates Capital Management, Inc., its managing member, By: /s/ Jeffrey L. Gates, President
Stock symbol: IO
Transactions as of: Sep 21, 2021
Transactions value $: -$450,284
Form type: 4
Date filed: 9/23/2021, 05:23 PM
Previous filing: Sep 20, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IO	Common Stock, par value $0.01 per share ("Common Stock")	Sale	-$138K	-112K	-3.4%	$1.23	3.19M	Sep 21, 2021	See footnote	F2
transaction	IO	Common Stock	Sale	-$178K	-135K	-4.24%	$1.32	3.05M	Sep 22, 2021	See footnote	F1, F2
transaction	IO	Common Stock	Sale	-$134K	-100K	-3.27%	$1.34	2.95M	Sep 23, 2021	See footnote	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Gates Capital Management, Inc. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.30 to $1.32, inclusive. The Reporting Persons undertake to provide to ION Geophysical Corporation (the "Issuer"), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
F2	Gates Capital Management, L.P. ("Gates Capital"), acts as the investment manager to certain funds (the "Gates Capital Funds") directly holding the securities reported herein. Gates Capital Management GP, LLC (the "General Partner") is the general partner of Gates Capital. Gates Capital Management, Inc. (the "Corporation"), is the managing member of the General Partner. Jeffrey L. Gates serves as President of the Corporation Each of Gates Capital, the General Partner, the Corporation and Jeffrey L. Gates, may be deemed to share beneficial ownership of the securities reported herein. Each of Gates Capital, the General Partner, the Corporation and Jeffrey L. Gates, disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interests therein, if any.

Content

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.30 to $1.32, inclusive. The Reporting Persons undertake to provide to ION Geophysical Corporation (the "Issuer"), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

Gates Capital Management, L.P. ("Gates Capital"), acts as the investment manager to certain funds (the "Gates Capital Funds") directly holding the securities reported herein. Gates Capital Management GP, LLC (the "General Partner") is the general partner of Gates Capital. Gates Capital Management, Inc. (the "Corporation"), is the managing member of the General Partner. Jeffrey L. Gates serves as President of the Corporation Each of Gates Capital, the General Partner, the Corporation and Jeffrey L. Gates, may be deemed to share beneficial ownership of the securities reported herein. Each of Gates Capital, the General Partner, the Corporation and Jeffrey L. Gates, disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interests therein, if any.