- Statement of Changes in Beneficial Ownership (4)
January 03 2011 - 5:22PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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3235-0287
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February 28, 2011
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Patterson Mark C
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2. Issuer Name
and
Ticker or Trading Symbol
Allis Chalmers Energy Inc.
[
ALY
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director
_____ 10% Owner
__
X
__ Officer (give title below)
_____ Other (specify below)
Sr Vice Pres - Rental Services
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(Last)
(First)
(Middle)
5075 WESTHEIMER, SUITE 890
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3. Date of Earliest Transaction
(MM/DD/YYYY)
12/29/2010
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(Street)
HOUSTON, TX 77056
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_
X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock
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12/29/2010
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F
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12021
(1)
(4)
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D
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$6.76
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33326
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D
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Common Stock
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12/29/2010
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A
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75000
(2)
(4)
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A
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$6.76
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108326
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D
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Common Stock
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12/29/2010
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F
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20724
(3)
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D
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$6.76
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87602
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D
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Table II - Derivative Securities Beneficially Owned (
e.g.
, puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code
(Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
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8. Price of Derivative Security
(Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Explanation of Responses:
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(
1)
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Effective December 29, 2010, the Compensation Committee of the Board of Directors of the Issuer approved the acceleration of the vesting of 43,500 shares of restricted stock of which 12,021 of such shares were withheld to satisfy tax obligations in connection with the vesting of such shares. The 43,500 shares of restricted stock includes two grants: 6,000 shares of which 1,659 shares were withheld and 37,500 shares of which 10,362 shares were withheld.
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(
2)
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Effective December 29, 2010, the Compensation Committee of the Board of Directors of the Issuer approved the acceleration of the vesting of 75,000 shares of performance-based restricted stock.
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(
3)
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These shares were withheld to satisfy tax obligations in connection with the vesting of 75,000 shares of performance-based restricted stock.
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(
4)
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The decision to accelerate the vesting of such equity was done to provide certain tax benefits to the Reporting Person and the Issuer.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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Patterson Mark C
5075 WESTHEIMER, SUITE 890
HOUSTON, TX 77056
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Sr Vice Pres - Rental Services
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Signatures
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/s/ Theodore F. Pound III through POA
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1/3/2011
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 4(b)(v).
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**
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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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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient,
see
Instruction 6 for procedure.
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Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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