Sec Form 4 Filing - Wilks Brothers, LLC @ CARBO CERAMICS INC - 2017-05-19

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Wilks Brothers, LLC
2. Issuer Name and Ticker or Trading Symbol
CARBO CERAMICS INC [ CRR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) X __ Other (specify below)
See Remarks
(Last) (First) (Middle)
17010 IH 20
3. Date of Earliest Transaction (MM/DD/YY)
05/19/2017
(Street)
CISCO, TX76437
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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
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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 of Derivative Security: 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
Warrant $ 14.91 05/19/2017 J 251,608 ( 1 ) 12/31/2022 Common Stock 251,608 ( 1 ) 523,022 D
Put Option (obligation to buy) $ 14 12/06/2016 J 6,275 ( 2 ) 06/16/2017 Common Stock 627,500 ( 2 ) 6,275 ( 2 ) D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Wilks Brothers, LLC
17010 IH 20
CISCO, TX76437
X See Remarks
Wilks Dan H.
17010 IH 20
CISCO, TX76437
X
Wilks Staci
17010 IH 20
CISCO, TX76437
X
Wilks Farris
17010 IH 20
CISCO, TX76437
X
Signatures
Dan H. Wilks, By: /s/ Morgan D Neff, Morgan D Neff, as Attorney-in-Fact 05/22/2017
Signature of Reporting Person Date
Staci Wilks, By: /s/ Morgan D Neff, Morgan D Neff, as Attorney-in-Fact 05/22/2017
Signature of Reporting Person Date
Farris Wilks, By: /s/ Morgan D Neff, Morgan D Neff, as Attorney-in-Fact 05/22/2017
Signature of Reporting Person Date
WILKS BROTHERS, LLC, By: /s/ Morgan D Neff, Name: Morgan D Neff, Title: Attorney-in-Fact 05/22/2017
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The Warrant is owned directly by Wilks Brothers, LLC. On March 2, 2017, in connection with entry into a credit agreement, the Issuer issued a Warrant (the "Warrant") to Wilks Brothers, LLC. Subject to the terms of the Warrant, the Warrant entitles the holder thereof to purchase up to 523,022 shares of the Common Stock, at an exercise price of $14.91 per share, payable in cash. Until receipt of stockholder approval, the holder of the Warrant shall not be entitled to exercise the Warrant to the extent that the number of shares of Common Stock to be purchased upon such exercise, plus the number of shares of Common Stock purchased on any prior exercise of the Warrant, exceeds 271,414 shares of Common Stock. On May 19, 2017, the Issuer announced it obtained the stockholder approval at a meeting of its stockholders held on May 16, 2017.
( 2 )On December 6, 2016, Wilks Brothers sold short 6,325 over the counter market American-style put options referencing 632,500 shares of Common Stock, which have a strike price of $14.00 and expire on June 16, 2017. On April 27, 2017, 4,600 shares were put to Wilks Brothers, LLC. On May 1, 2017 an additional 400 shares were put to Wilks Brothers, LLC.

Remarks:
This Form 4 is also being filed by (i) Dan H. Wilks, in his capacity as a managing member of Wilks Brothers, LLC (ii) Farris Wilks, in his capacity as a managing member of Wilks Brothers, LLC and (iii) Staci Wilks. Dan H. Wilks and Staci Wilks are husband and wife and Dan H. Wilks and Farris Wilks are brothers. Each Reporting Person disclaims beneficial ownership of all equity securities reported herein except to the extent of its respective pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that any such Reporting Person is the beneficial owner of any equity securities covered by this Form 4.

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).
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