Eric Lannen - 17 May 2021 Form 4 Insider Report for BASIC ENERGY SERVICES, INC.

Role: Chief Human Resources Officer
Signature: /s/ Dasha K. Hodge, Attorney-in-Fact
Issuer symbol: N/A
Transactions as of: 17 May 2021
Net transactions value: -$1,100
Form type: 4
Filing time: 19 May 2021, 19:12:29 UTC
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BASX	Common Stock	Tax liability	$215	-2,051	-3%	$0.1050^*	66,061	17 May 2021	Direct	F1
transaction	BASX	Common Stock	Options Exercise		+8,421	+13%		74,482	17 May 2021	Direct	F2
transaction	BASX	Common Stock	Disposed to Issuer	$884	-8,421	-11%	$0.1050^*	66,061	17 May 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BASX	Time-Based Phantom Shares	Options Exercise		-8,421	-50%		8,421	17 May 2021	Common Stock	8,421		Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	In connection with the vesting of restricted stock, 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 Fair Market Value (as defined in the Basic Energy Services, Inc. 2019 Long Term Incentive Plan) of the Issuer's common stock on May 14, 2021. Such shares were acquired as treasury stock by the Issuer.
F2	Represents vesting of cash-settled time-based phantom shares (the "Phantom Shares") granted under the Basic Energy Services, Inc. 2019 Long Term Incentive Plan. Each Phantom Share is the economic equivalent of one share of Issuer common stock, subject to a maximum settlement amount of $9.00 per Phantom Share. The settlement of the Phantom Shares for cash is reported on this Form 4 as a disposition of the Phantom Shares being settled in exchange for the acquisition of the underlying Issuer common stock, and a simultaneous disposition of the underlying Issuer common stock to the Issuer for cash.
F3	5/17/2021