Parker Drilling (PKDC) Form 4 PARKER DRILLING / Christopher T Weber 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^*

Weber Christopher T

(Last) (First) (Middle)

5 GREENWAY PLAZA, SUITE 100

(Street)

HOUSTON TX 77046

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PARKER DRILLING CO /DE/ [ PKD ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Sr. VP and CFO

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2017

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
401K Common Stock								8,321.05(1)	I	401(k)
Common Stock	03/09/2017		M		33,334	A	$1.65	418,682	D
Common Stock	03/09/2017		A		13,350(4)	A	$1.65	432,032	D
Common Stock	03/09/2017		F		9,117	D	$1.65	422,915	D
Common Stock	03/09/2017		F		3,652	D	$1.65	419,263	D
Common Stock	03/10/2017		M		39,882	A	$1.65	459,145	D
Common Stock	03/10/2017		M		39,882(5)	A	$1.65	499,027	D
Common Stock	03/10/2017		F		10,908	D	$1.65	488,119	D
Common Stock	03/10/2017		D		39,882(5)	D	$1.65	448,237	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
Phantom Stock Units	(2)	03/09/2017		A		81,904		03/09/2018	03/09/2020	Common Stock	81,904	$0(2)	201,549	D
Restricted Stock Units	(3)	03/09/2017		A		81,904		03/09/2018	03/09/2020	Common Stock	81,904	$0(3)	357,798	D
Restricted Stock Units	(3)	03/09/2017		M			33,334	03/09/2017	03/09/2017	Common Stock	33,334	$0(3)	324,464	D
Restricted Stock Units	(3)	03/10/2017		M			39,882	03/10/2017	03/10/2017	Common Stock	39,882	$0(3)	284,582	D
Phantom Stock Units	(2)	03/10/2017		M(5)			39,882	03/10/2017	03/10/2017	Common Stock	39,882	$0(2)	161,667	D

Explanation of Responses:

1. Shares of PKD common stock in 401(k) as of March 9, 2017.

2. Each phantom stock unit presents a contingent right to receive a cash amount equivalent to one share of PKD common stock.

3. Each restricted stock unit represents a contingent right to receive one share of PKD common stock.

4. Represents Performance Share Units (PSUs) that vested on March 9, 2017 and were initially granted in March 2014. Each PSU represented the right to receive one share of PKD Common Stock, subject to increase or decrease based upon annual total shareholder return (TSR) of the Company as compared to the TSR for each performance peer of the Company and subject to the discretion of the Compensation Committee to reduce the award by up to 20%. The PSUs vested represents a payout factor of 0.575 times the initial number of PSUs granted.

5. Vesting of phantom stock units resulting in a cash payment in which each phantom stock unit is valued at the fair market value of one share of PKD common stock on the day of vesting.

	Christopher T. Weber	03/13/2017
	** Signature of Reporting Person	Date
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