Stephen T Wendel Form 4 ABRAXAS PETROLEUM / STEPHEN T WENDEL ownership change

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^*

WENDEL STEPHEN T

(Last) (First) (Middle)

18803 MEISNER DRIVE

(Street)

SAN ANTONIO TX 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)
VP - Contracts and Marketing

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2019

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)
			Code	V	Amount	(A) or (D)	Price
Abraxas Petroleum Common Stock	04/01/2019		A		51,306	A	$1.34	436,267	D
Abraxas Petroleum Common Stock								131,423	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance-based Restricted Stock Unit	$2.37							04/02/2021	04/02/2021	Abraxas Petroleum Common Stock	28,539		28,539	D
Employee Stock Option	$0.97							03/15/2017	03/15/2026	Abraxas Petroleum Common Stock	177,000		177,000	D
Employee Stock Option	$3.16							03/03/2016	03/03/2025	Abraxas Petroleum Common Stock	150,000		150,000	D
Employee Stock Option	$3.15							03/11/2015	03/11/2024	Abraxas Petroleum Common Stock	24,000		24,000	D
Employee Stock Option	$2.39							05/14/2014	05/14/2023	Abraxas Petroleum Common Stock	22,300		22,300	D
Employee Stock Option	$3.74							03/08/2013	03/08/2022	Abraxas Petroleum Common Stock	10,400		10,400	D
Employee Stock Option	$4.72							03/15/2012	03/15/2021	Abraxas Petroleum Common Stock	30,000		30,000	D
Employee Stock Option	$2.09							03/16/2014	03/16/2020	Abraxas Petroleum Common Stock	60,000		60,000	D
Employee Stock Option	$1.75							10/05/2010	10/05/2019	Abraxas Petroleum Common Stock	66,937		66,937	D
Employee Stock Option	$3.6							08/28/2011	08/28/2017	Abraxas Petroleum Common Stock	15,330		15,330	D
Performance-based Restricted Stock Unit	$1.34	04/01/2019		M		51,306(1)		(2)	(2)	Abraxas Petroleum Common Stock	51,306(1)	$1.34	51,306	D

Explanation of Responses:

1. Each performance-based restricted share represents the right to receive, following vesting, up to 200% of one share of Abraxas Petroleum Corporation common stock. The resulting number of shares of common stock acquired upon vesting of the performance-based restricted shares is contingent upon achievement of pre-established performance metrics, as approved by the Company's Compensation Committee, over a three-year performance period beginning on April 1, 2019 and ending on April 1, 2022.

2. Unless earlier forfeited under the terms of the performance-based restricted shares, each performance-based share vest and converts into no more than 200% of one share.

	Stephen T. Wendel	04/03/2019
	** Signature of Reporting Person	Date
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