Varde Partners Form 4 PARKER DRILLING / George G Hicks 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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OMB Number:			3235-0287
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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^*

Hicks George G

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

55402

(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	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/06/2020

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/06/2020		P		3,516	A	$15.0453	1,287,183	I	See Footnotes⁽¹⁾⁽⁵⁾⁽⁶⁾
Common Stock	02/06/2020		P		4,499	A	$15.0453	1,631,998	I	See Footnotes⁽²⁾⁽⁵⁾⁽⁶⁾
Common Stock	02/06/2020		P		4,574	A	$15.0453	1,751,271	I	See Footnotes⁽³⁾⁽⁵⁾⁽⁶⁾
Common Stock	02/07/2020		P		218,387	A	$14.5171	1,505,570	I	See Footnotes⁽¹⁾⁽⁵⁾⁽⁶⁾
Common Stock	02/07/2020		P		279,459	A	$14.5171	1,911,457	I	See Footnotes⁽²⁾⁽⁵⁾⁽⁶⁾
Common Stock	02/07/2020		P		284,115	A	$14.5171	2,035,386	I	See Footnotes⁽³⁾⁽⁵⁾⁽⁶⁾
Common Stock								1,233,731	I	See Footnotes⁽⁴⁾⁽⁵⁾⁽⁶⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

1. Name and Address of Reporting Person^*

Hicks George G

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

55402

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

Varde Investment Partners (Offshore) Master, L.P.

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

55402

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

VARDE INVESTMENT PARTNERS LP

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

55402

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

Varde Investment Partners G.P., LLC

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

55402

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

Varde Credit Partners Master, L.P.

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

55402

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

Varde Credit Partners G.P., LLC

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

55402

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

VARDE PARTNERS LP

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

55402

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

VARDE PARTNERS INC

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

55402

(City)

(State)

(Zip)

Explanation of Responses:

1. Shares of common stock of Parker Drilling Company (the "Issuer") held directly by Varde Investment Partners (Offshore) Master, L.P. ("VIP Offshore").

2. Shares of common stock of the Issuer held directly by Varde Investment Partners, L.P. ("VIP").

3. Shares of common stock of the Issuer held directly by Varde Credit Partners Master, L.P. ("VCPM").

4. Shares of common stock of the Issuer held directly by Varde Skyway Master Fund, L.P. ("Master Skyway Fund").

5. The Varde Skyway Fund G.P., L.P. ("Skyway Fund GP") is the general partner of Master Skyway Fund. The Varde Skyway Fund UGP, LLC ("Skyway Fund UGP") is the general partner of Skyway Fund GP. Varde Investment Partners G.P., L.P. ("VIP GP") is the general partner of VIP Offshore and VIP. Varde Investment Partners UGP, LLC ("VIP UGP") is the general partner of VIP GP. Varde Credit Partners G.P., L.P. ("VCPM GP") is the general partner of VCPM. Varde Credit Partners UGP, LLC ("VCPM UGP") is the general partner of VCPM GP. Varde Partners, L.P. ("Managing Member") is the managing member of Skyway Fund UGP, VIP UGP and VCPM UGP. Varde Partners, Inc. ("General Partner") is the general partner of the Managing Member. George G. Hicks is the Chief Executive Officer of the General Partner.

6. (Continued from Footnote 5) Each of the Reporting Persons (other than to the extent it directly holds securities reported herein) disclaims beneficial ownership of the securities held by the other Reporting Persons, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended, each of the Reporting Persons (other than to the extent it directly holds securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

Remarks:

	GEORGE G. HICKS, Name: /s/ George G. Hicks	02/10/2020
	VARDE INVESTMENT PARTNERS (OFFSHORE) MASTER, L.P., By: Varde Investment Partners G.P., L.P., Its GP, By: Varde Investment Partners UGP, LLC, Its GP, By: Varde Partners, L.P., Its MM, By: Varde Partners, Inc., Its GP, Name: /s/ David A. Marple, Title: GC	02/10/2020
	VARDE INVESTMENT PARTNERS, L.P., By: Varde Investment Partners G.P., L.P., Its GP, By: Varde Investment Partners UGP, LLC, Its GP, By: Varde Partners, L.P., Its MM, By: Varde Partners, Inc., Its GP, Name: /s/ David A. Marple, Title: General Counsel	02/10/2020
	VARDE INVESTMENT PARTNERS G.P., L.P., By: Varde Investment Partners UGP, LLC, Its General Partner, By: Varde Partners, L.P., Its Managing Member, By: Varde Partners, Inc., Its General Partner, Name: /s/ David A. Marple, Title: General Counsel	02/10/2020
	VARDE CREDIT PARTNERS MASTER, L.P., By: Varde Credit Partners G.P., L.P., Its GP, By: Varde Credit Partners UGP, LLC, Its GP, By: Varde Partners, L.P., Its MM, By: Varde Partners, Inc., Its GP, Name: /s/ David A. Marple, Title: General Counsel	02/10/2020
	VARDE CREDIT PARTNERS G.P., L.P., By: Varde Credit Partners UGP, LLC, Its General Partner, By: Varde Partners, L.P., Its Managing Member, By: Varde Partners, Inc., Its General Partner, Name: /s/ David A. Marple, Title: General Counsel	02/10/2020
	VARDE PARTNERS, L.P., By: Varde Partners, Inc., Its General Partner, Name: /s/ David A. Marple, Title: General Counsel	02/10/2020
	VARDE PARTNERS, INC., Name: /s/ David A. Marple, Title: General Counsel	02/10/2020
	** 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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Varde Partners Form 4PARKER DRILLING / George G Hicks ownership change