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SEC Filings

10-K
KEY ENERGY SERVICES INC filed this Form 10-K on 02/28/2018
Entire Document
 

(1)
The columns represent the potential annual value of the payout for each NEO under the cash bonus incentive compensation component if the target or maximum goals were satisfied. For a detailed description of the cash bonus incentive plan, see the “Cash Bonus Incentive Plan” section under “Compensation Discussion and Analysis” above. Amounts actually paid for the 2017 year are reflected in the “Non-equity Incentive Plan Compensation” column of the “Summary Compensation Table” above.

(2)
These amounts represent the grant date fair value calculated in accordance with FASB ASC Topic 718.

(3)
The Replacement Awards, which were granted on December 31, 2017, were approved by the compensation committee on November 29, 2017 for grant in December subject to the executive’s election to accept the Replacement Awards.

(4)
Includes 8,886 time-based RSUs, 8,886 performance-based RSUs, 8,886 time-based options and 8,886 performance-based options, which were forfeited in exchange for the December 31, 2017 grant of Replacement Awards. These forfeited awards had an aggregate grant date fair value of $308,522.

2017 Outstanding Equity Awards at Fiscal Year-End

The following table provides information with respect to outstanding stock options, time-based RSUs and performance-based RSUs held by the NEOs as of December 31, 2017:

 
 
 
 
 
OPTION AWARDS
 
STOCK AWARDS
Name
 
Number of Securities Underlying Unexercised Options (#) Exercisable
 
Number of Securities Underlying Unexercised Options (#) Unexercisable
 
Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#)
 
Option Exercise Price
($)
 
Option Expiration Date
 
Number of Shares or Units of Stock That Have Not Vested
(#)(2)
 
Market Value of Shares or Units of Stock That Have Not Vested
($)(1)
 
Equity Incentive Plan Awards: Number of Unearned Performance Units That Have Not Vested
($)(2)
 
Equity Incentive Plan Awards: Market Value of Unearned Units That Have Not Vested
($)(1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Robert Drummond
 
25,106

 

 

 
$
19.35

 
12/15/26
 
150,637

 
$
1,776,010

 
150,637

 
$
1,776,010

 
25,106

 

 

 
$
47.99

 
12/20/26
 

 

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
J. Marshall Dodson
 
12,754

 

 

 
$
19.35

 
12/15/26
 
76,518

 
$
902,147

 
76,518

 
$
902,147

 
12,754

 

 

 
$
47.99

 
12/20/26
 

 

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
David Brunnert
 
7,900

 

 

 
$
19.35

 
12/15/26
 
60,000

 
$
707,400

 
60,000

 
$
707,400

 
7,900

 

 

 
$
47.99

 
12/20/26
 

 

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Scott P. Miller
 
5,924

 

 

 
$
19.35

 
12/15/26
 
35,544

 
$
419,064

 
35,544

 
$
419,064

 
5,924

 

 

 
$
47.99

 
12/20/26
 

 

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Katherine I. Hargis
 
4,938

 

 

 
$
19.35

 
12/15/26
 
32,500

 
$
383,175

 
32,500

 
$
383,175

 
4,938

 

 

 
$
47.99

 
12/20/26
 

 

 

 

_________________________
(1)
The market price of stock awards is determined by multiplying the number of shares by the closing price of the stock on the last trading day of the year. The closing price quoted on the NYSE on December 29, 2017 was $11.79.

(2)
Represents RSUs which vest in annual increments beginning on the one-year anniversary of the date of grant. Performance-based RSUs are shown assuming target performance. With respect to each NEO, the vesting applicable to each outstanding award as of December 31, 2017 (including performance-based RSUs, assuming target performance) is as follows:

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