0000076321-19-000028.txt : 20190328 0000076321-19-000028.hdr.sgml : 20190328 20190328172032 ACCESSION NUMBER: 0000076321-19-000028 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20190326 FILED AS OF DATE: 20190328 DATE AS OF CHANGE: 20190328 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Simons Jennifer Fremont CENTRAL INDEX KEY: 0001736375 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-07573 FILM NUMBER: 19712978 MAIL ADDRESS: STREET 1: 5 GREENWAY PLAZA DR. SUITE 100 CITY: HOUSTON STATE: TX ZIP: 77046 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: PARKER DRILLING CO /DE/ CENTRAL INDEX KEY: 0000076321 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 730618660 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 5 GREENWAY PLAZA STREET 2: SUITE 100 CITY: HOUSTON STATE: TX ZIP: 77046 BUSINESS PHONE: 281-406-2000 MAIL ADDRESS: STREET 1: 5 GREENWAY PLAZA STREET 2: SUITE 100 CITY: HOUSTON STATE: TX ZIP: 77046 4 1 wf-form4_155380801502282.xml FORM 4 X0306 4 2019-03-26 0 0000076321 PARKER DRILLING CO /DE/ NONE 0001736375 Simons Jennifer Fremont 5 GREENWAY PLAZA, SUITE 100 HOUSTON TX 77046 0 1 0 0 See Remarks 401K Common Stock 2019-03-26 4 D 0 517.52 D 0 I By 401(k) Plan 401K Common Stock 2019-03-26 4 A 0 7 A 7 I By 401(k) Plan Common Stock 2019-03-26 4 D 0 1225 D 0 D Common Stock 2019-03-26 4 A 0 17 A 17 D Restricted Stock Units 2019-03-26 4 A 0 30996 A Common Stock 30996.0 30996 D Option (Employee Right to Buy) 23.0 2019-03-26 4 A 0 46494 A Common Stock 46494.0 46494 D Warrants (right to buy) 48.85 2019-03-26 4 A 0 287 A Common Stock 287.0 287 D On December 12, 2018, Parker Drilling Company (the "Issuer") and certain of its U.S. subsidiaries, (collectively, with the Issuer, the "Debtors"), filed voluntary petitions in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the "Bankruptcy Court") seeking relief under the provisions of Chapter 11 of Title 11 of the United States Bankruptcy Code. On March 7, 2019, the Bankruptcy Court entered an order confirming the Debtors' Amended Joint Chapter 11 Plan of Reorganization, dated as of January 21, 2019 (as amended, modified or supplemented from time to time, the "Plan"), and on March 26, 2019 (the "Effective Date"), the Plan became effective pursuant to its terms and the Debtors emerged from bankruptcy. On the Effective Date, all outstanding shares of the Issuer's common stock ("Old Common Stock") were cancelled and extinguished. Shares of Issuer common stock in the Reporting Person's 401(k) plan. New shares of the Issuer's common stock, $0.01 par value per share (the "New Shares") were issued to the Reporting Person pursuant to the Plan in exchange for Old Common Stock held by the Reporting Person on the Effective Date under the Plan. The receipt of New Shares was involuntary, without additional consideration and in accordance with the Plan approved by the Bankruptcy Court. Each restricted stock unit ("Restricted Stock Unit") represents a contingent right to receive one New Share. In accordance with the Plan, the Reporting Person received an award of Restricted Stock Units. The Restricted Stock Units will vest as follows: (i) one-third (1/3) on the first anniversary of the Effective Date; (ii) one-third (1/3) on the second anniversary of the Effective Date; and (iii) one-third on the third anniversary of the Effective Date. The Restricted Stock Units do not expire. The vested Restricted Stock Units will settle as soon as practicable following each applicable vesting date. In accordance with the Plan, the Reporting Person received an award of stock options. The stock options will vest and become exercisable as follows: (i) one-third (1/3) on the first anniversary of the Effective Date; (ii) one-third (1/3) on the second anniversary of the Effective Date; and (iii) one-third on the third anniversary of the Effective Date. The stock options expire on the tenth anniversary of the Effective Date. In accordance with the Plan, the Reporting Person also received Warrants to purchase New Shares in exchange for Old Common Stock held by the Reporting Person on the Effective Date. On the Effective Date, the Issuer and Equiniti Trust Company, a limited trust company organized under the laws of the State of New York, entered into the Warrant Agreement, dated as of the Effective Date (the "Warrant Agreement") pursuant to which each warrant became exercisable for one New Share. The warrants were exercisable from the date of issuance and expire at 5:00 p.m., New York City time, on the fifth and a half anniversary of the Effective Date. VP, General Counsel & Secretary Jennifer F. Simons 2019-03-27