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*
Silver Point Capital L.P.

(Last) (First) (Middle)
TWO GREENWICH PLAZA, FIRST FLOOR

(Street)
GREENWICH CT 06830

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BASIC ENERGY SERVICES INC [ BAS ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
05/15/2019
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X 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)
Code V Amount (A) or (D) Price
Common Stock 05/15/2019 A 20,000(1) A $0 20,000(2) I See footnote(2)
Common Stock(3) 3,280,151 D(3)
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (4) 05/15/2019 A 7,700 (4) (4) Common Stock 7,700 $0 7,700(2) I See footnote(2)
1. Name and Address of Reporting Person*
Silver Point Capital L.P.

(Last) (First) (Middle)
TWO GREENWICH PLAZA, FIRST FLOOR

(Street)
GREENWICH CT 06830

(City) (State) (Zip)
1. Name and Address of Reporting Person*
MULE EDWARD A

(Last) (First) (Middle)
TWO GREENWICH PLAZA, FIRST FLOOR

(Street)
GREENWICH CT 06830

(City) (State) (Zip)
1. Name and Address of Reporting Person*
O'Shea Robert J

(Last) (First) (Middle)
TWO GREENWICH PLAZA, FIRST FLOOR

(Street)
GREENWICH CT 06830

(City) (State) (Zip)
Explanation of Responses:
1. Represents a grant of 20,000 time based restricted shares to Anthony DiNello, a director of the issuer and employee of Silver Point Capital, L.P. ("Silver Point"), that was awarded pursuant to the Basic Energy Services, Inc. Non-Employee Director Incentive Plan (the "Plan"). These restricted shares will vest on May 15, 2020.
2. Mr. DiNello has an understanding with Silver Point pursuant to which he holds shares for the benefit of Silver Point and certain of its affiliates. Accordingly, Mr. DiNello disclaims beneficial ownership of the shares except to the extent of his pecuniary interest therein.
3. Silver Point is the investment manager of Silver Point Capital Fund, L.P. and Silver Point Capital Offshore Fund, Ltd. (the "Funds") and, by reason of such status, may be deemed to be the beneficial owner of all of the reported securities held by the Funds. Silver Point Capital Management, LLC ("Management") is the general partner of Silver Point and as a result may be deemed to be the beneficial owner of all securities held by the Funds. Messrs. Edward A. Mule and Robert J. O'Shea are each members of Management and as a result may be deemed to be the beneficial owner of all of the securities held by the Funds. Silver Point, Management and Messrs. Mule and O'Shea disclaim beneficial ownership of the reported securities held by the Funds except to the extent of their pecuniary interests.
4. Represents a grant of 7,700 restricted stock units to Mr. DiNello that was awarded pursuant to the Plan. These restricted stock units will vest on May 15, 2020, and will be settled in cash based on the fair market value of the issuer's common stock on such date (such payment not to exceed $9 per restricted stock unit), subject to Mr. DiNello's continued service with the issuer.
Remarks:
/s/ Steven Weiser, Authorized Signatory on behalf of Silver Point Capital, L.P. 05/17/2019
/s/ Steven Weiser (as attorney-in-fact on behalf of Edward A Mule, individually) 05/17/2019
/s/ Steven Weiser (as attorney-in-fact on behalf of Robert J. O'Shea, individually) 05/17/2019
** 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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