Kevin McDonald - Sep 1, 2023 Form 4 Insider Report for NEXTIER OILFIELD SOLUTIONS INC. (NEX)

Role
EVP, Chief Admin. Officer & GC
Signature
/s/ Kevin McDonald
Stock symbol
NEX
Transactions as of
Sep 1, 2023
Transactions value $
$0
Form type
4
Date filed
9/1/2023, 04:26 PM
Previous filing
Aug 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NEX Common Stock Disposed to Issuer $0 -322K -100% $0.00* 0 Sep 1, 2023 Direct F1

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 NEX Stock Option (Right to Buy) Disposed to Issuer $0 -11.9K -100% $0.00* 0 Sep 1, 2023 Common Stock 11.9K $14.17 Direct F2
transaction NEX Stock Option (Right to Buy) Disposed to Issuer $0 -48.8K -100% $0.00* 0 Sep 1, 2023 Common Stock 48.8K $15.63 Direct F2
transaction NEX Restricted Stock Units Disposed to Issuer $0 -238K -100% $0.00* 0 Sep 1, 2023 Common Stock 238K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Kevin McDonald is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Pursuant to the Agreement and Plan of Merger, dated as of June 14, 2023 and amended as of July 27, 2023 (the "Merger Agreement"), by and among Patterson-UTI Energy, Inc. ("Patterson-UTI"), Pecos Merger Sub Inc., Pecos Second Merger Sub LLC and NexTier Oilfield Solutions, Inc., each share was cancelled and converted into the right to receive 0.7520 shares of Patterson-UTI common stock at the effective date of the mergers contemplated thereby (the "Effective Date").
F2 Pursuant to the Merger Agreement, each reported Stock Option was converted, on the same terms and conditions as were applicable prior to execution of the Merger Agreement, into 0.7520 options with respect to Patterson-UTI common stock (rounded down to the nearest whole share in the aggregate) at the Effective Date at an exercise price adjusted based on the exchange ratio.
F3 Pursuant to the Merger Agreement, each reported Restricted Stock Unit was converted, on the same terms and conditions as were applicable prior to execution of the Merger Agreement, into 0.7520 Restricted Stock Units with respect to Patterson-UTI common stock (rounded down to the nearest whole share in the aggregate) at the Effective Date.