X0303 4 2010-12-29 0 0000003982 Allis Chalmers Energy Inc. ALY 0001304242 Pound Ted C/O ALLIS-CHALMERS 5075 WESTHEIMER, #890 HOUSTON TX 77056 0 1 0 0 General Counsel & Secretary Common Stock 2010-12-29 4 F 0 16867 6.76 D 79788 D Common Stock 2010-12-29 4 A 0 100000 6.76 A 179788 D Common Stock 2010-12-29 4 F 0 33738 6.76 D 146050 D Effective December 29, 2010, the Compensation Committee of the Board of Directors of the Issuer approved the acceleration of the vesting of 50,000 shares of restricted stock of which 16,867 of such shares were withheld to satisfy tax obligations in connection with the vesting of such shares. The 50,000 shares of restricted stock includes three grants: 9,000 shares of which 3,036 shares were withheld, 9,000 shares of which 3,036 shares were withheld, and 32,000 shares of which 10,795 shares were withheld. Effective December 29, 2010, the Compensation Committee of the Board of Directors of the Issuer approved the acceleration of the vesting of 100,000 shares of performance-based restricted stock. These shares were withheld to satisfy tax obligations in connection with the vesting of 100,000 shares of performance-based restricted stock. The decision to accelerate the vesting of such equity was done to provide certain tax benefits to the Reporting Person and the Issuer. /s/ Theodore F. Pound III 2011-01-03