X0306 4 2019-03-07 0 0000076321 PARKER DRILLING CO /DE/ PKDSQ 0001694095 Collins Bryan Ray 5 GREENWAY PLAZA, SUITE 100 HOUSTON TX 77046 0 1 0 0 President, Drilling Operations 401K Common Stock 842.87 I 401(k) Common Stock 7816 D Phantom Stock Units 2019-03-07 4 D 0 13996 D Common Stock 13996 0 D Restricted Stock Units 2019-03-07 4 D 0 13996 D Common Stock 13996 0 D Shares of Parker Drilling Company (the "Company") common stock in 401(k). On July 27, 2018, the Company effected a 1-for-15 stock split of its common stock (the "Reverse Stock Split"). The amount of securities reported on this Form 4 have been adjusted to reflect the Reverse Stock Split and rounded down to the nearest whole share. Each phantom stock unit ("PSU") represents a contingent right to receive a cash amount equivalent to one share of Company common stock. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Company common stock. In connection with the Company's corporate reorganization and in accordance with the terms and conditions of the Company's 2010 Long-Term Incentive Plan (as amended and restated as of May 8, 2013), the Company's Compensation Committee determined on March 7, 2019 to cancel all outstanding incentive awards, including RSUs and PSUs. In exchange, the Committee exercised its discretion to determine a reasonable approximation of the value thereof and approved a payment to holders of such RSUs and PSUs of $0.33 per unit. /s/ Bryan Collins 2019-03-11