Pedro R. Buhigas - 17 May 2021 Form 4 Insider Report for BASIC ENERGY SERVICES, INC.

Role
Chief Information & Technology Officer
Signature
/s/ Dasha K. Hodge, Attorney-in-Fact
Issuer symbol
N/A
Transactions as of
17 May 2021
Net transactions value
-$530
Form type
4
Filing time
19 May 2021, 19:13:28 UTC
Next filing
07 Jan 2026
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 $101 -959 -8.6% $0.1050* 10,160 17 May 2021 Direct F1
transaction BASX Common Stock Options Exercise +4,088 +40% 14,248 17 May 2021 Direct F2
transaction BASX Common Stock Disposed to Issuer $429 -4,088 -29% $0.1050* 10,160 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 -4,088 -50% 4,088 17 May 2021 Common Stock 4,088 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

Remarks:

Chief Information & Technology Officer