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^*

Weinman Barry Lee

(Last)

(First)

(Middle)

C/O GLOBAL GEOPHYSICAL SERVICES, INC.

13927 S. GESSNER RD.

(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)
	President - Weinman Division

3. Date of Earliest Transaction (Month/Day/Year)
01/12/2011

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)
Common Stock								295,809	I	Weinman GeoScience, Inc.
Common Stock								1,000	I	by son⁽⁴⁾
Common Stock								1,000	I	by daughter⁽⁴⁾
Common Stock	01/12/2011		J⁽¹⁾		67,500⁽²⁾	A	$10.8⁽³⁾	67,500	D
Common Stock	01/12/2011		J⁽¹⁾		67,500⁽²⁾	A	$10.8⁽³⁾	67,500	I	by spouse⁽⁴⁾

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)

Explanation of Responses:

1. These shares were issued to Mr. Weinman ("Shareholder") to that Agreement Regarding Payment of Earnout ("Agreement"), effective as of 01/12/2011, entered into to satisfy GGS' obligations, including its Earnout Payment obligation, under that Asset Purchase Agreement, dated 06/05/2008, as amended ("Purchase Agreement"), which provided, among other things, for an Earnout Payment to Weinman GeoScience, Inc. ("Seller") if certain performance targets were met, where payment was to be made by GGS by delivery of GGS' Common Stock. Seller has assigned its rights to receive a portion of the Earnout Payment to its Shareholders, Barry and Jane Weinman.

2. These shares are subject to GGS' standard vesting requirements over 12 quarters, more specifically they will vest 12.5% on each of the following dates: June 30, 2012, September 30, 2012, December 31, 2012, March 31, 2013, June 30, 2013, September 30, 2013, December 31, 2013, and March 31, 2014.

3. The price reported in Column 4 is the price agreed by the parties to the Agreement (as defined above) being the closing price of the Common Stock on the New York Stock Exchange on the day preceding the effective date of the Agreement.

4. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for Section 16 purposes or for any other purpose.

	/s/ Barry L. Weinman	01/14/2011
	** 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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