SEC Info - Buhigas Pedro R. - ‘3’ for 6/8/20 re: Basic Energy Services, Inc.

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Buhigas Pedro R.

(Last)

(First)

(Middle)

801 CHERRY ST

SUITE 2100

(Street)

FORT WORTH

76102-0000

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
6/8/20

3. Issuer Name and Ticker or Trading Symbol
BASIC ENERGY SERVICES, INC. [ BASX ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
See Remarks

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	11,119 ⁽¹⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Time-Based Phantom Shares (MIP)	⁽²⁾	⁽²⁾	Common Stock	6,000	⁽²⁾	D
Time-Based Phantom Shares	⁽³⁾	⁽³⁾	Common Stock	8,176	⁽³⁾	D

Explanation of Responses:

(1) Includes 8,176 shares of restricted stock granted under the Basic Energy Services, Inc. 2019 Long Term Incentive Plan (the "LTIP"), vesting in one-third increments. The first one-third increment vested on May 15, 2020, with the remaining 8,176 shares of restricted stock vesting on May 15, 2021 and 2022.

(2) Cash-settled time-based phantom shares granted under the Management Incentive Plan, vesting in three equal annual increments. The first two increments vested on March 15, 2019 and March 15, 2020, with the remaining 6,000 cash-settled time-based phantom shares vesting on March 15, 2021. Each cash-settled time-based phantom share is the economic equivalent of one share of Company common stock.

(3) Cash-settled time-based phantom shares granted under the LTIP, vesting in one-third increments. The first one-third increment vested on May 15, 2020, with the remaining 8,176 cash-settled time-based phantom shares vesting on May 15, 2021 and 2022. Each cash-settled time-based phantom share is the economic equivalent of one share of Company common stock, subject to a maximum settlement amount of $9.00 per phantom share.

Remarks:

Chief Information & Technology Officer Power of Attorney is attached hereto as Exhibit 24.

	/s/ David S. Schorlemer, Attorney-in-Fact	6/18/20
	** 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 5 (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.

Buhigas Pedro R. – ‘3’ for 6/8/20 re: Basic Energy Services, Inc.

On: Thursday, 6/18/20, at 6:27pm ET · For: 6/8/20 · Accession #: 1109189-20-109 · File #: 1-32693

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34
Filing Table of Contents

‘3’ — Initial Statement of Beneficial Ownership of Securities by an Insider — wf-form3_159251922212966.xml/2.6

This ‘3’ Document is an XML Data File that may be rendered in various formats:

Buhigas Pedro R. – ‘3’ for 6/8/20 re: Basic Energy Services, Inc.

On: Thursday, 6/18/20, at 6:27pm ET · For: 6/8/20 · Accession #: 1109189-20-109 · File #: 1-32693

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34Filing Table of Contents

‘3’ — Initial Statement of Beneficial Ownership of Securities by an Insider — wf-form3_159251922212966.xml/2.6

This ‘3’ Document is an XML Data File that may be rendered in various formats:

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34
Filing Table of Contents