Seventy Seven Energy Form 4 Seventy Seven Energy / Cary D Baetz 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^*

Baetz Cary D

(Last) (First) (Middle)

777 N.W. 63RD STREET

(Street)

OKLAHOMA CITY OK 73116

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Seventy Seven Energy Inc. [ SSEIQ ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
CFO and Treasurer

3. Date of Earliest Transaction (Month/Day/Year)
07/28/2016

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	07/28/2016		F		177,691(1)	D	$0.105	386,337	D
Common Stock	08/01/2016		J(2)		386,337(2)	D	$0.00(2)	0	D
Common Stock	08/01/2016		J(2)		3,650(2)	D	$0.00(2)	0	I	401(k) Plan
Common Stock	08/01/2016		J(2)		430(2)	D	$0.00(2)	0	I	By immediate family member

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
Class B Warrants to purchase Common Stock	$69.08	08/01/2016		A(3)		19,332(3)		08/01/2016	08/01/2021	Common Stock	19,332	$0.00(3)	19,332	D
Class B Warrants to purchase Common Stock	$69.08	08/01/2016		A(3)		183(3)		08/01/2016	08/01/2021	Common Stock	183	$0.00(3)	183	I	401(k) Plan
Class B Warrants to purchase Common Stock	$69.08	08/01/2016		A(3)		22(3)		08/01/2016	08/01/2021	Common Stock	22	$0.00(3)	22	I	By immediate family member
Class C Warrants to purchase Common Stock	$86.93	08/01/2016		A(3)		21,480(3)		08/01/2016	08/01/2023	Common Stock	21,480	$0.00(3)	21,480	D
Class C Warrants to purchase Common Stock	$86.93	08/01/2016		A(3)		203(3)		08/01/2016	08/01/2023	Common Stock	203	$0.00(3)	203	I	401(k) Plan
Class C Warrants to purchase Common Stock	$86.93	08/01/2016		A(3)		24(3)		08/01/2016	08/01/2023	Common Stock	24	$0.00(3)	24	I	By immediate family member

Explanation of Responses:

1. Reflects shares that were withheld for payment of required withholding taxes upon the vesting of a portion of a previously reported restricted stock award. Pursuant to the Confirmation Order (the "Confirmation Order") issued by the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") on July 14, 2016, all restricted stock and restricted stock units were deemed vested upon the effective date of the Issuer's emergence from Chapter 11, which occurred on August 1, 2016.

2. Pursuant to the Confirmation Order and Plan of Reorganization approved by the Bankruptcy Court, the Issuer's common stock (SSEIQ) was automatically cancelled on August 1, 2016 without any action on the part of the Reporting Person.

3. Received on August 1, 2016 after shares of the Issuer's Common Stock were cancelled (as described above), pursuant to the Confirmation Order and Plan of Reorganization approved by the Bankruptcy Court.

Remarks:

	/s/ David Treadwell by Power of Attorney	08/01/2016
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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