X0303 4 2010-12-22 0 0000318996 KEY ENERGY SERVICES INC KEG 0001446813 DOUGLAS DENNIS C 1301 MCKINNEY STREET SUITE 1800 HOUSTON TX 77010 0 1 0 0 SVP, Fluid Managment Svcs Common Stock 2010-12-22 4 M 0 1875 A 76283 D Common Stock 2010-12-22 4 D 0 1875 13.11 D 74408 D Phantom Stock 2010-12-22 4 M 0 1875 D 2010-12-22 Common Stock 1875 0 D Each share of phantom stock was the economic equivalent of one share of Key Energy Services, Inc.'s common stock, which, pursuant to the plan under which it was granted, was required to be settled in cash based on the closing price on the date each share vested. Includes 71,430 unvested shares of restricted stock granted under the Key Energy Services, Inc. 2007 Equity and Cash Incentive Plan and the Key Energy Services, Inc. 2009 Equity and Cash Incentive Plan. The phantom share award granted on December 22, 2006 vests in four equal annual installments on the anniversary of the grant date. The vested phantom shares are payable solely in cash within 20 business days after the vesting date. The original grant was for 7,500 phantom shares, of which 1,875 shares vested on December 22, 2007, 1,875 shares vested on December 22, 2008, 1,875 shares vested on December 22, 2009 and 1,875 shares vested on December 22, 2010. By Joshua K. Hancock, Attorney-in-fact for Dennis C. Douglas 2010-12-27