UNITED STATES
 
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT PURSUANT
 
TO SECTION 13 OR 15(D) OF THE
 
SECURITIES EXCHANGE ACT OF 1934

 
Date of report (Date of earliest event reported): August 31, 2015
 
PARKER DRILLING COMPANY
(Exact name of registrant as specified in its charter)
 
 
Delaware
(State or other jurisdiction of
incorporation or organization)
 
73-0618660
(I.R.S. Employer Identification No.)
 
5 Greenway Plaza, Suite 100, Houston, Texas 77046
 
(Address of principal executive offices) (Zip code)
 
(281) 406-2000
 
(Registrant’s telephone number, including area code)
 
Not Applicable
 
(Former Address if Changed Since Last Report)
 
     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
 
o
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
 
o
 
Soliciting material pursuant to Rule 14A-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
 
o
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
 
o
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 




 
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 31, 2015, the Board of Directors of Parker Drilling Company (the “Company”) elected Peter Fontana as a Class II member of the Company’s Board of Directors (the “Board”), with a term expiring at the annual meeting of stockholders to be held in 2016. In addition, the Board appointed Mr. Fontana as a member of the Audit Committee of the Board. There is no arrangement or understanding between Mr. Fontana and any other persons pursuant to which he was elected as a director.
 
Mr. Fontana, age 68, retired in 2013 from Weatherford International, plc ("Weatherford"). From 2013 to 2014, he served as a consultant to Weatherford. From 2010 until 2013 Mr. Fontana served Weatherford's Chief Operating Officer. Mr Fontana joined Weatherford as Director, Project Management in December 2004 and was appointed Vice President, Latin America in November 2005, a position he held until July 2009 when he was appointed as Senior Vice President, Western Hemisphere. Prior to joining Weatherford, Mr. Fontana held progressive management positions at Baker Hughes Incorporated, Forasol/Foramer, The Western Company of North America and Geofrac. Mr. Fontana holds a Master's of Business Administration from Southern Methodist University.

As a former senior executive with over 30 years' experience in the drilling and oilfield services industries, the Board believes Mr. Fontana brings significant operational and business experience to the Company.
 
Upon his appointment, Mr. Fontana was granted 8,902 restricted stock units pursuant to the Company’s 2010 Long Term Incentive Plan as Amended and Restated, all of which will vest on the one-year anniversary date of the award. Mr. Fontana will be entitled to the same annual compensation as the registrant’s other non-employee directors who also serve on the Audit Committee. See the information under “Director Compensation” on page 18 of the registrant’s proxy statement dated March 27, 2015, for additional information.
 
A copy of the Company’s press release announcing the appointment of Mr. Fontana to the Board of Directors is attached as Exhibit 99 to this Form 8-K and is incorporated herein by reference.

Item 9.01
 
Financial Statements and Exhibits
 
(d)
 
Exhibits.
The following exhibit is furnished herewith:
 
99
 
Press release dated September 1, 2015, issued by the Registrant
 
 
 



 


SIGNATURES
 
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
 
 
Parker Drilling Company
 
 
Date: September 1, 2015
By:
/s/ Christopher T. Weber
 
 
 
Christopher T. Weber
 
 
 
Senior Vice President and Chief Financial Officer
 
 
 
 
 

 
  
 





EXHIBIT 99

PARKER DRILLING ELECTS PETER T. FONTANA TO BOARD OF DIRECTORS
Houston, TX, September 1, 2015 - Parker Drilling Company (NYSE: PKD) announced the election of Mr. Peter T. Fontana to the Company’s board of directors. An oil and gas industry veteran with over 30 years of experience, Mr. Fontana brings extensive international oilfield services and technical operations expertise to the Company. With the addition of Mr. Fontana, the board’s total membership is now 10. He will also serve on the board’s audit committee.
Mr. Fontana is the former chief operating officer of Weatherford International, a global provider of equipment and services used in drilling, evaluation, completion, production and intervention of oil and natural gas wells. He retired from Weatherford in 2013, having served as chief operating officer since 2010. Mr. Fontana joined Weatherford in January 2005. Prior to joining Weatherford, Mr. Fontana held leadership positions with Baker Hughes, Forasol/Foramer and The Western Company of North America.
“We continue to build a strong board of directors with varying and relevant expertise to help move Parker Drilling forward,” said Gary G. Rich, the Company’s chairman, president and chief executive officer. “Pete’s significant technical and global operations experience adds yet another unique perspective on the industry. We look forward to his insights and contributions as we strengthen our ability to consistently deliver innovative, reliable and efficient performance to our stakeholders.”
Mr. Fontana holds a master's of business administration from Southern Methodist University and is the inventor and co-inventor on several U.S. patents. He has authored numerous technical papers focused on improved drilling operations.
Company Description:
Parker Drilling provides drilling services and rental tools to the energy industry. The Company's Drilling Services business serves operators in the inland waters of the U.S. Gulf of Mexico utilizing Parker Drilling's barge rig fleet and in select international markets and harsh-environment regions utilizing Parker Drilling-owned and customer-owned equipment. The Company's Rental Tools Services business supplies premium equipment and well services to operators on land and offshore in the U.S. and international markets. More information about Parker Drilling can be found on the Company's website at www.parkerdrilling.com.
Company Contacts:
Investor Relations
Media Relations
Jason Geach
Stephanie J. Dixon
Vice President, Investor Relations &
Corporate Development
Manager, Marketing &
Corporate Communications
281-406-2310
281-406-2212