SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Verghese P Mathew

(Last)

(First)

(Middle)

C/O GLOBAL GEOPHYSICAL SERVICES, INC.

13927 SOUTH GESSNER ROAD

(Street)

MISSOURI CITY

77489

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Global Geophysical Services Inc [ GGS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Sr. V.P. & CFO

3. Date of Earliest Transaction (Month/Day/Year)
04/27/2010

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B Common Stock	04/27/2010		J⁽¹⁾		45,000	D	⁽¹⁾	0	D
Common Stock	04/27/2010		J⁽¹⁾		45,000	A	⁽¹⁾	45,000	D
Common Stock	04/27/2010		S		2,218	D	$12	42,782	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option	$15	04/27/2010		J⁽⁴⁾		15,000⁽⁴⁾		03/31/2010⁽²⁾	03/30/2019	Common Stock	15,000	$0	15,000	D
Stock Option	$20	04/27/2010		J⁽⁴⁾		15,000⁽⁴⁾		03/31/2010⁽²⁾	03/30/2019	Common Stock	15,000	$0	15,000	D
Stock Option	$25	04/27/2010		J⁽⁴⁾		20,000⁽⁴⁾		03/31/2010⁽²⁾	03/30/2019	Common Stock	20,000	$0	20,000	D
Stock Option	$30	04/27/2010		J⁽⁴⁾		20,000⁽⁴⁾		03/31/2010⁽²⁾	03/30/2019	Common Stock	20,000	$0	20,000	D
Stock Option	$15	04/27/2010		J⁽⁴⁾		10,000⁽⁴⁾		06/30/2010⁽³⁾	06/29/2019	Common Stock	10,000	$0	10,000	D

Explanation of Responses:

1. Pursuant to a reclassification exempt under Rule 16b-7, each share of Class A and B Common Stock and Preferred Stock are converting, immediately and automatically, into shares of Common Stock, as part of a recapitalization of the issuer's capital stock structure.

2. As of the filing date, 25% of these shares have vested. The remainder of these shares will vest 25% on each of the following dates; March 31, 2011, March 31, 2012 and March 31, 2013.

3. As of the filing date none of these shares have vested. These shares will vest 25% on each of the following dates; June 30, 2010, June 30, 2011, June 30, 2012 and June 30, 2013.

4. Pursuant to the reclassification discussed in footnote 1, these options now convert to Common Stock instead of Class B Common Stock, only if and when exercised.

	/s/ P. Mathew Verghese	04/29/2010
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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