Sec Form 4 Filing - WATSON ROBERT L G @ ABRAXAS PETROLEUM CORP - 2019-04-01

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 WATSON ROBERT L G 2. Issuer Name and Ticker or Trading Symbol ABRAXAS PETROLEUM CORP [ AXAS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) President/CEO (Last) (First) (Middle) 18803 MEISNER DRIVE 3. Date of Earliest Transaction (MM/DD/YY) 04/01/2019 (Street) SAN ANTONIO, TX78258 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 Abraxas Petroleum Common Stock 04/01/2019 A 97,015 A $ 1.34 1,616,882 D Abraxas Petroleum Common Stock 244,603 I 401-K

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 Performance-based Restricted Stock Unit $ 2.37 04/02/2021 04/02/2021 Abraxas Petroleum Common Stock 52,511 0 D Employee Stock Option $ 0.97 03/15/2017 03/15/2026 Abraxas Petroleum Common Stock 415,000 415,000 D Employee Stock Option $ 3.16 03/03/2016 03/03/2025 Abraxas Petroleum Common Stock 300,000 300,000 D Employee Stock Option $ 3.15 03/11/2016 03/11/2025 Abraxas Petroleum Common Stock 46,000 46,000 D Employee Stock Option $ 2.39 05/14/2014 05/14/2023 Abraxas Petroleum Common Stock 42,000 42,000 D Employee Stock Option $ 3.74 03/08/2013 03/08/2022 Abraxas Petroleum Common Stock 20,000 20,000 D Employee Stock Option $ 4.72 03/15/2012 03/15/2021 Abraxas Petroleum Common Stock 60,000 60,000 D Employee Stock Option $ 2.09 03/16/2011 03/16/2020 Abraxas Petroleum Common Stock 90,000 90,000 D Employee Stock Option $ 1.75 10/05/2010 10/05/2019 Abraxas Petroleum Common Stock 267,750 267,750 D Employee Stock Option $ 3.6 08/28/2011 08/28/2020 Abraxas Petroleum Common Stock 41,624 41,624 D Performance-based Restricted Stock Unit $ 1.34 04/01/2019 M 97,015 ( 1 ) ( 2 ) ( 2 ) Abraxas Petroleum Common Stock 97,015 ( 1 ) $ 1.34 97,015 ( 1 ) D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other WATSON ROBERT L G 18803 MEISNER DRIVE SAN ANTONIO, TX78258 President/CEO Signatures Robert L.G. Watson 04/03/2019 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Each performance-based restricted share represents the right to receive, following vesting, up to 200% of one share of Abraxas Petroleum Corporation common stock. The resulting number of shares of common stock acquired upon vesting of the performance-based restricted shares is contingent upon achievement of pre-established performance metrics, as approved by the Company's Compensation Committee, over a three-year performance period beginning on April 1, 2019 and ending on April 1, 2022. ( 2 )Unless earlier forfeited under the terms of the performance-based restricted shares, each performance-based share vest and converts into no more than 200% of one share.

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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