X0306 4 2019-03-07 0 0000076321 PARKER DRILLING CO /DE/ PKDSQ 0001694261 Sumruld Michael W 5 GREENWAY PLAZA, SUITE 100 HOUSTON TX 77046 0 1 0 0 Sr. VP and CFO Common Stock 2674 D Phantom Stock Units 2019-03-07 4 D 0 11562 D Common Stock 11562 0 D Restricted Stock Units 2019-03-07 4 D 0 18632 D Common Stock 18632 0 D Each phantom stock unit ("PSU") represents a contingent right to receive a cash amount equivalent to one share of Parker Drilling Company (the "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/ Michael W. Sumruld 2019-03-11