Forbes Energy Services (FLSS) Form 4 Forbes Energy Services / John E. Crisp 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^*

Crisp John E.

(Last) (First) (Middle)

3000 SOUTH BUSINESS HIGHWAY 281

(Street)

ALICE TX 78332

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Forbes Energy Services Ltd. [ FES ]

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

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/26/2016

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/26/2016		M		58,098(1)	A	$0(1)	1,489,328	D
Common Stock	03/26/2016		D		58,098	D	$0.48(1)	1,431,230	D
Common Stock	03/26/2016		M		64,705(1)	A	$0(1)	1,495,935	D
Common Stock	03/26/2016		D		64,705	D	$0.48(1)	1,431,230	D

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
Restricted Stock Units	(1)	03/26/2016		M			58,098	(2)	(2)	Common Stock	58,098	$0	117,958	D
Restricted Stock Units	(1)	03/26/2016		M			64,705	(3)	(3)	Common Stock	64,705	$0	131,373	D

Explanation of Responses:

1. On March 26, 2016, the reporting person had an award of restricted stock units that vested in accordance with the provisions in a grant made on June 3, 2015. Each restricted stock unit converts into common stock on a one-for-one basis. The restricted stock units were settled in cash valued at $0.48 per share, based on the market closing price on March 24, 2016. No shares were actually, issued, converted, or sold inconnection with this transaction.

2. On June 3, 2015, the reporting person was granted 176,056 restricted stock units, of which 33%, 33% and 34% vests on the first, second and third anniversary of March 26, 2015, respectively.

3. On June 3, 2015, the reporting person was granted 196,078 restricted stock units, of which 33%, 33% and 34% vests on the first, second and third anniversary of March 26, 2015, respectively.

Remarks:

	/s/ L. Melvin Cooper, Power of Attorney for John E. Crisp	03/29/2016
	** 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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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