Ron Gusek - 18 Jan 2022 Form 4 Insider Report for Liberty Oilfield Services Inc. (LBRT)

Role: President
Signature: /s/ R. Sean Elliott, attorney-in-fact for Ron Gusek
Issuer symbol: LBRT
Transactions as of: 18 Jan 2022
Net transactions value: $0
Form type: 4
Filing time: 19 Jan 2022, 17:51:36 UTC
Previous filing: 02 Dec 2021
Next filing: 05 Apr 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LBRT	Class A Common Stock	Award		+61,670	+5.1%		1,276,260	18 Jan 2022	Direct	F1
transaction	LBRT	Class A Common Stock	Award	$0	+6,238	+0.49%	$0.000000	1,282,498	19 Jan 2022	Direct	F2
transaction	LBRT	Class B Common Stock	Disposed to Issuer	$0	-6,238	-100%	$0.000000^*	0	19 Jan 2022	Direct	F3

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	LBRT	Units	Disposed to Issuer		-6,238	-100%		0	19 Jan 2022	Class A Common Stock	6,238		Direct	F4, F5

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

Explanation of Responses:

Id	Content
F1	Represents restricted stock units granted on January 18, 2022, which vest in three equal installments on April 1, 2023, 2024 and 2025, subject to continued employment. Each restricted stock unit represents a contingent right to receive one share of Liberty Oilfield Services Inc. Class A common stock following vesting.
F2	Represents securities issued in redemption of Units (as defined below).
F3	Represents securities forfeited to the Issuer for no additional consideration upon redemption.
F4	"Units" means ownership interests in Liberty Oilfield Services New HoldCo LLC ("Liberty LLC"). The Issuer is sole managing member of Liberty LLC
F5	The limited liability company agreement of Liberty LLC provides certain holders of Units with certain rights to cause Liberty LLC to acquire all or a portion of the Units (the "Redemption Right") for, at Liberty LLC's election, (a) shares of Class A Common Stock at a redemption ratio of one share of Class A Common Stock for each Unit redeemed, subject to conversion rate adjustments for stock splits, stock dividends and reclassification and other similar transactions, or (b) an equivalent amount of cash based on the 30-day volume weighted average price of Class A Common Stock ending on the trading day that is immediately prior to the date that the Redemption Right is exercised. The Units and the right to exercise the Redemption Right have no expiration date.