Petroquest Energy (PQ) Form 4 PETROQUEST ENERGY / Edward E. Jr. Abels 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^*

Abels Edward E. Jr.

(Last) (First) (Middle)

400 E. KALISTE SALOOM RD.

SUITE 6000

(Street)

LAFAYETTE LA 70508

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PETROQUEST ENERGY INC [ PQ ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Exec VP - Gen. Counsel & Sec.

3. Date of Earliest Transaction (Month/Day/Year)
11/12/2017

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
Common Stock	11/12/2017		M		6,826	A	$0	34,086	D
Common Stock	11/12/2017		F		2,277	D	$1.85	31,809	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)	11/12/2017		A		23,667		(2)	(2)	Common Stock	23,667	$0	23,667	D
Incentive stock option (right to buy)	$1.85	11/12/2017		A		10,519		(3)	11/11/2027	Common Stock	10,519	$0	10,519	D
Restricted Stock Units	(1)	11/12/2017		M		6,826		11/12/2017(4)	(4)	Common Stock	6,826	$0	0	D

Explanation of Responses:

1. Each Restricted Stock Unit represents a contingent right to receive one share of PetroQuest common stock.

2. One third of the Restricted Stock Units vest on each of the first, second and third anniversaries of the grant date. The applicable number of shares of PetroQuest common stock will be delivered to the reporting person on each such vesting date.

3. Vests with respect to 1/3 of the shares annually beginning on November 12, 2018.

4. On November 12, 2014 the reporting person was granted 20,478 Restricted Stock Units. One third of the Restricted Stock Units vested on each of the first, second and third anniversaries of the grant date. The applicable number of shares of PetroQuest Common stock were delivered to the reporting person on each such vesting date.

Remarks:

	/s/ Edward E. Abels, Jr.	11/13/2017
	** 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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