FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
PARKER DRILLING CO /DE/ [ PKD ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 03/09/2017 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
401K Common Stock | 11,105.09(1) | I | 401(k) | |||||||
Common Stock | 03/09/2017 | A | 43,752(4) | A | $1.62 | 803,655 | D | |||
Common Stock | 03/09/2017 | F | 15,904 | D | $1.65 | 787,751 | D | |||
Common Stock | 03/10/2017 | M | 87,140 | A | $1.65 | 874,891 | D | |||
Common Stock | 03/10/2017 | M | 87,140(5) | A | $1.65 | 962,031 | D | |||
Common Stock | 03/10/2017 | F | 36,556 | D | $1.65 | 925,475 | D | |||
Common Stock | 03/10/2017 | D | 87,140(5) | D | $1.65 | 838,335 | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Restricted Stock Units | (2) | 03/09/2017 | A | 178,955 | 03/09/2018 | 03/09/2020 | Common Stock | 178,955 | $0(2) | 636,107 | D | ||||
Phantom Stock Units | (3) | 03/09/2017 | A | 178,955 | 03/09/2018 | 03/09/2020 | Common Stock | 178,955 | $0(3) | 440,373 | D | ||||
Restricted Stock Units | (2) | 03/10/2017 | M | 87,140 | 03/10/2017 | 03/10/2017 | Common Stock | 87,140 | $0(2) | 548,967 | D | ||||
Phantom Stock Units | (3) | 03/10/2017 | M(5) | 87,140 | 03/10/2017 | 03/10/2017 | Common Stock | 261,418 | $0(3) | 353,233 | D |
Explanation of Responses: |
1. Shares of PKD common stock in 401(k) as of March 9, 2017. |
2. Each restricted stock unit represents a contingent right to receive one share of PKD common stock. |
3. Each phantom stock unit presents a contingent right to receive a cash amount equivalent to one share of PKD common stock. |
4. Represents Performance Share Units (PSUs) that vested on March 9, 2017 and were initially granted in March 2014. Each PSU represented the right to receive one share of PKD Common Stock, subject to increase or decrease based upon annual total shareholder return (TSR) of the Company as compared to the TSR for each performance peer of the Company and subject to the discretion of the Compensation Committee to reduce the award by up to 20%. The PSUs vested represents a payout factor of 0.575 times the initial number of PSUs granted. |
5. Vesting of phantom stock units resulting in a cash payment in which each phantom stock unit is valued at the fair market value of one share of PKD common stock on the day of vesting. |
Gary G. Rich | 03/13/2017 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |