X0306 4 2020-05-29 1 0000320575 PIONEER ENERGY SERVICES CORP * 0001780203 Morytko Tamara 1250 N E LOOP 410 #1000 SAN ANTONIO TX 78209 1 0 0 0 Common Stock 2020-05-29 4 A 0 55 A 55 D On March 1, 2020, Pioneer Energy Services Corp. (the "Issuer") and its subsidiaries, (collectively, with the Issuer, the "Debtors"), filed voluntary petitions in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court") seeking relief under the provisions of Chapter 11 of Title 11 of the United States Bankruptcy Code. Debtors also filed a prepackaged Chapter 11 plan of reorganization (the "Plan") with the Bankruptcy Court. On May 11, 2020, the Bankruptcy Court entered an order, Docket No. 331 (the "Confirmation Order") confirming the Plan. On May 29, 2020 (the "Effective Date"), the Debtors emerged from bankruptcy and the Plan became effective pursuant to its terms. On the Effective Date, and pursuant to the Plan, all outstanding shares of the Issuer's common stock, par value $0.10 (the "Old Shares") were exchanged for new shares of the Issuer's common stock, $0.001 par value per share (the "New Shares") at the conversion rate of 0.0006849838 New Shares for each Old Share. The receipt of New Shares was involuntary, without additional consideration and in accordance with the Plan approved by the Bankruptcy Court. In connection with the Plan becoming effective, all unvested equity awards for Old Shares granted under the Pioneer Energy Services Corp. Amended and Restated 2007 Incentive Plan (the "2007 Incentive Plan") that were held by any director or employee of the Issuer on the Effective Date vested and became New Shares at the conversion rate of 0.0006849838 New Shares for each Old Share. On the Effective Date, the Reporting Person held 81,012 Old Shares pursuant to unvested equity award grants under the 2007 Incentive Plan, all of which had their vesting accelerate and convert into New Shares. The 81,012 Old Shares represented a restricted stock award to the Reporting Person on July 1, 2019 which would have fully vested on July 1, 2020. * The Company is not currently listed on any exchange or on the OTC market and therefore does not have a symbol. Bryce Seki, Attorney-in-fact for Tamara Morytko 2020-06-02