SEC FORM 4

SEC Form 4

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^*

Krog George William Jr

(Last)

(First)

(Middle)

18803 MEISNER DRIVE

(Street)

SAN ANTONIO

78258

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ABRAXAS PETROLEUM CORP [ AXAS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/29/2016

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Abraxas Petroleum Common Stock								109,244	D
Abraxas Petroleum Common Stock	01/29/2016⁽¹⁾		A		8,138⁽¹⁾	A	$1.14	22,492	I	401-K

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option	$0.97	03/15/2016		A		123,000		03/15/2017	03/15/2026⁽²⁾	Abraxas Petroleum Common Stock	123,000	$0.97	123,000	D
Employee Stock Option	$3.16							03/03/2016	03/03/2025	Abraxas Petroleum Common Stock	100,000		100,000	D
Employee Stock Option	$3.15							03/11/2014	03/11/2024	Abraxas Petroleum Common Stock	21,000		21,000	D
Employee Stock Option	$2.39							03/11/2015	03/11/2024	Abraxas Petroleum Common Stock	20,000		20,000	D
Employee Stock Option	$6.05							03/24/2010	03/24/2016	Abraxas Petroleum Common Stock	5,000		5,000	D
Employee Stock Option	$3.6							08/28/2011	08/28/2017	Abraxas Petroleum Common Stock	8,829		8,829	D
Employee Stock Option	$0.99							03/17/2010	03/17/2019	Abraxas Petroleum Common Stock	10,000		10,000	D
Employee Stock Option	$1.75							10/05/2010	10/05/2019	Abraxas Petroleum Common Stock	26,775		26,775	D
Employee Stock Option	$4.72							03/12/2012	03/15/2021	Abraxas Petroleum Common Stock	10,000		10,000	D
Employee Stock Option	$2.09							03/16/2011	03/16/2020	Abraxas Petroleum Common Stock	12,700		12,700	D
Employee Stock Option	$3.74							03/08/2013	03/08/2022	Abraxas Petroleum Common Stock	9,500		9,500	D

Explanation of Responses:

1. 401-K shares acquired as a result of Abraxas Petroleum Corporations safe harbor match for calendar year 2015.

2. Options vest at 25% per year beginning one year from date of grant.

	G. William Krog, Jr.	03/28/2016
	** 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).
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