X0306 4/A 2016-12-15 2016-12-20 0 0000318996 KEY ENERGY SERVICES INC KEG 0001539993 Hargis Katherine 1301 MCKINNEY ST STE 1800 HOUSTON TX 77010 0 1 0 0 VP, CLO and Secretary Common Stock ($0.10 par value) 2016-12-15 4 J 0 163874 D 0 D Common Stock ($0.01 par value) 2016-12-15 4 J 0 822 A 822 D Common Stock ($0.01 par value) 2016-12-19 4 F 0 208 D 614 D Warrant (right to buy) 43.52 2016-12-15 4 P 0 909 0.00 A 2020-12-15 Common Stock ($0.01 par value) 909 909 D Warrant (right to buy) 54.40 2016-12-15 4 P 0 909 0.00 A 2021-12-15 Common Stock ($0.01 par value) 909 909 D In connection with the Issuer's reorganization pursuant to bankruptcy, all unvested restricted stock awards received 100% accelerated vesting. Pursuant to a reclassification exempt under Rule 16b-7, each then-vested share of Common Stock ($0.10 par value) was cancelled, and new vested securities (Common Stock at $0.01 par value) were issued to the insider, along with warrants described below. The number of shares of Common Stock ($0.01 par value) beneficially owned following the Issuer's reorganization was misstated in the Form 4 and Form 4/A filed on December 20, 2016 and December 22, 2016, respectively, and in the Form 4 filed on December 22, 2016. The withholding of shares of Common Stock for taxes relates to the accelerated vesting of equity compensation awards that occurred immediately prior to the Issuer's emergence from bankruptcy. For administrative reasons the shares were withheld from the newly issued Common Stock (par value $0.01). The number of warrants beneficially owned following the Issuer's reorganization was misstated in the Form 4 and Form 4/A filed on December 20, 2016 and December 22, 2016, respectively. Each warrant will be exercisable for one share of Common Stock ($0.01 par value) until the earlier to occur of the expiration date or the date of completion of a merger, sale or other reorganization transaction that results in the Common Stock being exchanged solely for cash. Katherine I. Hargis 2017-02-07