Sec Form 4 Filing - Powers Michael Kelly @ Williams Industrial Services Group Inc. - 2020-03-31

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
Powers Michael Kelly
2. Issuer Name and Ticker or Trading Symbol
Williams Industrial Services Group Inc. [ WLMS]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
President, Power
(Last) (First) (Middle)
C/O WILLIAMS INDUSTRIAL SRVS GRP INC., 100 CRESCENT CENTRE PKWY STE 1240
3. Date of Earliest Transaction (MM/DD/YY)
03/31/2020
(Street)
TUCKER, GA30084
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ 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
Common Stock, $0.01 par value per share 03/31/2020 M( 1 ) 9,206 A 44,230 D
Common Stock, $0.01 par value per share 03/31/2020 A( 2 ) 27,243 A 71,473 D
Common Stock, $0.01 par value per share 03/31/2020 F( 3 ) 13,609 D $ 1.19 57,864 D
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
Restricted Stock Units ( 4 ) ( 1 ) 03/31/2020 M 9,206 ( 1 ) ( 1 ) Common Stock 9,206 $ 0 18,412 D
Restricted Stock Units ( 5 ) 03/31/2020 A 45,573 ( 5 ) ( 5 ) Common Stock 45,573 $ 0 45,573 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Powers Michael Kelly
C/O WILLIAMS INDUSTRIAL SRVS GRP INC.
100 CRESCENT CENTRE PKWY STE 1240
TUCKER, GA30084
President, Power
Signatures
/s/ Charles E. Wheelock for Michael Kelly Powers by Power of Attorney 04/02/2020
Signature of Reporting Person Date
Explanation of Responses:
( 1 )On April 3, 2019, the reporting person was granted 27,618 time-based restricted stock units ("RSUs"), which vest in three equal installments on March 31 of each of 2020, 2021 and 2022 and are subject to continued employment through the vesting date. Each RSU represents a contingent right to receive one share of the issuer's common stock. The RSUs may be settled in shares of the issuer's common stock or cash (at the election of the issuer). The issuer's Compensation Committee elected to settle the RSUs that vested on March 31, 2020 in shares of the issuer's common stock.
( 2 )On April 3, 2019, the reporting person was granted cash-based performance awards ("Performance Awards"), which vest in three equal installments on March 31 of each of 2020, 2021 and 2022 and are subject to continued employment through the vesting date. The Performance Awards may be settled in cash or shares of the issuer's common stock (at the election of the issuer). The Compensation Committee determined that a portion of the first installment of the Performance Awards vested, based on the issuer's achievement of the relevant performance conditions, and elected to settle such Performance Awards in shares of the issuer's common stock. The number of shares received was based on the closing price of the issuer's common stock on March 31, 2020.
( 3 )Reflects withholding of shares by the issuer to offset the tax liability resulting from the vesting on March 31, 2020 with respect to (i) 9,206 time-based RSUs granted on April 3, 2019; (ii) 8,767 time-based RSUs granted on June 20, 2018; and (iii) 27,243 Performance Awards.
( 4 )Previously reported as "phantom stock units." The correct title of these securities is "restricted stock units."
( 5 )On March 31, 2020, the reporting person was granted 45,573 time-based RSUs, which vest in three equal installments on June 30, 2021 and March 31 of each of 2022 and 2023 and are subject to continued employment through the vesting date. Each RSU represents a contingent right to receive one share of the issuer's common stock. The RSUs may be settled in shares of the issuer's common stock or cash (at the election of the issuer).

Remarks:
Power of attorney is attached hereto as Exhibit 24.

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