Basic Energy Services (BASWQ) Form 3 BASIC ENERGY SERVICES / Brandon B. McGuire ownership change

SEC Form 3

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

OMB APPROVAL

OMB Number:	3235-0104
Estimated average burden
hours per response:	0.5

1. Name and Address of Reporting Person^*

McGuire Brandon B.

(Last) (First) (Middle)

801 CHERRY ST

SUITE 2100

(Street)

FORT WORTH TX 76102-0000

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/26/2020

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)
SVP, Central Region

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	53,325(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)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Time-Based Phantom Shares	(2)	(2)	Common Stock	11,092	(2)	D
Stock Option (right to buy)	(3)	12/23/2026	Common Stock	9,713	36.55(3)	D
Stock Option (right to buy)	(4)	02/22/2027	Common Stock	9,713	41.93(4)	D

Explanation of Responses:

1. Includes 11,092 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 11,092 shares of restricted stock vesting on May 15, 2021 and 2022.

2. 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 11,092 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.

3. The Stock Options vested in three equal annual installments on December 23, 2017, 2018, and 2019 and have an exercise price of $36.55.

4. The Stock Options vested in three equal annual installments on February 8, 2018, 2019, and 2020 and have an exercise price of $41.93.

Remarks:

Power of Attorney is attached hereto as Exhibit 24.

	/s/ David S. Schorlemer, Attorney-in-Fact	06/05/2020
	** 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.