0001109189-16-000410.txt : 20161228 0001109189-16-000410.hdr.sgml : 20161228 20161228213956 ACCESSION NUMBER: 0001109189-16-000410 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20161223 FILED AS OF DATE: 20161228 DATE AS OF CHANGE: 20161228 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: BASIC ENERGY SERVICES INC CENTRAL INDEX KEY: 0001109189 STANDARD INDUSTRIAL CLASSIFICATION: OIL, GAS FIELD SERVICES, NBC [1389] IRS NUMBER: 542091194 FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 801 CHERRY STREET STREET 2: SUITE 2100 CITY: FORT WORTH STATE: TX ZIP: 76102 BUSINESS PHONE: 817-334-4100 MAIL ADDRESS: STREET 1: 801 CHERRY STREET STREET 2: SUITE 2100 CITY: FORT WORTH STATE: TX ZIP: 76102 FORMER COMPANY: FORMER CONFORMED NAME: SIERRA WELL SERVICE INC DATE OF NAME CHANGE: 20000313 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Poldrack Lanny Trampas CENTRAL INDEX KEY: 0001544000 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-32693 FILM NUMBER: 162073443 MAIL ADDRESS: STREET 1: 801 CHERRY STREET STREET 2: SUITE 2100 CITY: FORT WORTH STATE: TX ZIP: 76102 4 1 wf-form4_148297918257989.xml FORM 4 X0306 4 2016-12-23 0 0001109189 BASIC ENERGY SERVICES INC BAS 0001544000 Poldrack Lanny Trampas 801 CHERRY STREET SUITE 2100 FORT WORTH TX 76102 0 1 0 0 VP, Safety and Operations Common Stock 2016-12-23 4 J 0 48014 0 D 0 D New Common Stock 2016-12-23 4 J 0 84 0 A 84 D New Common Stock 2016-12-23 4 M 0 8095 36.5486 A 8179 D New Common Stock 2016-12-23 4 S 0 2248 36 D 5931 D New Common Stock 2016-12-23 4 S 0 24 36 D 5907 D Restricted Stock Units 2016-12-23 4 A 0 24283 0 A New Common Stock 24283.0 24283 D Restricted Stock Units 2016-12-23 4 M 0 8095 0 D New Common Stock 8095.0 16188 D Stock Option (right to buy) 36.55 2016-12-23 4 A 0 9713 0 A 2026-12-23 New Common Stock 9713.0 9713 D Warrants 55.25 2016-12-23 4 J 0 2321 0 A 2016-12-23 2023-12-23 New Common Stock 2321.0 2321 D The Issuer and certain of its subsidiaries (collectively with the Issuer, the "Debtors") filed voluntary petitions (the cases commenced thereby, the "Chapter 11 Cases") under chapter 11 of title 11 of the United States Code on October 25, 2016 in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). On December 9, 2016, the Bankruptcy Court entered an order approving the First Amended Joint Prepackaged Chapter 11 Plan of Basic Energy Services, Inc. and its Affiliated Debtors (as confirmed, the "Prepackaged Plan"), and on December 23, 2016 (the "Effective Date"), the Prepackaged Plan became effective pursuant to its terms and the Debtors emerged from the Chapter 11 Cases. On the Effective Date, all outstanding shares of the Issuer's common stock (the "Old Common Stock") were cancelled and extinguished. New shares of the Issuer's common stock, par value $0.01 per share (the "New Common Stock") were issued to all of the Issuer's stockholders (including the Reporting Person) pursuant to the Prepackaged Plan in exchange for the Old Common Stock held by such persons on the Effective Date under the Prepackaged Plan. The receipt of the New Common Stock in exchange for Old Common Stock was involuntary, without consideration and in accordance with the Prepackaged Plan approved by the Bankruptcy Court. Promptly following the vesting date (but no later than 30 days following such vesting date), the restricted stock units will be settled by the Issuer into New Common Stock on a one-for-one basis; provided, the Issuer, it in sole discretion, has the option to settle the Restricted Stock Units in cash (subject to applicable withholding taxes). Shares sold to settle tax withholding obligations through a "broker sale." The restricted stock units vest in three equal annual installments: 1/3 on the Effective Date, 1/3 on December 23, 2017 and 1/3 on December 23, 2018. The option vests in three equal annual installments: 1/3 on December 23, 2017, 1/3 on December 23, 2018 and 1/3 on December 23, 2019. The warrants were issued to the Reporting Person pursuant to the Prepackaged Plan. The receipt of the warrants was involuntary and without consideration. /s/ John Cody Bissett, Attorney-in-Fact 2016-12-29