UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 21, 2012
PARKER DRILLING COMPANY
(Exact name of Registrant as specified in its charter)
| Delaware | 1-7573 | 73-0618660 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
| 5 Greenway Plaza, Suite 100, Houston, Texas | 77046 | |||
| (Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (281) 406-2000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On May 21, 2012, Parker Drilling Company (the “Company”) entered into an agreement with each of Messrs W. Kirk Brassfield, senior vice president and chief financial officer; David R. Famer, vice president – operations; Jon-Al Duplantier, senior vice president and general counsel; Philip Agnew, vice president – technical services and Don C. Hare, vice president – administration (each, an “executive”) providing that in the event of such executive’s termination of employment for good reason or the involuntary termination of such executive’s employment without cause, the executive will receive a cash payment equal to the fair market value on the date of termination of certain restricted stock unit awards that would otherwise be forfeited by reason of such termination.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PARKER DRILLING COMPANY | ||||||
| Dated: May 24, 2012 | By: | /s/ W. Kirk Brassfield | ||||
| W. Kirk Brassfield | ||||||
| Senior Vice President and Chief Financial Officer | ||||||