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 OF SECURITIES

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
Newman James F.
  2. Issuer Name and Ticker or Trading Symbol
BASIC ENERGY SERVICES, INC. [BASX]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
See Remarks
(Last)
(First)
(Middle)
801 CHERRY STREET, SUITE 2100
3. Date of Earliest Transaction (Month/Day/Year)
05/17/2021
(Street)

FORT WORTH, TX 76102
4. If Amendment, Date Original Filed(Month/Day/Year)
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 (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)
Code V Amount (A) or (D) Price
Common Stock 05/17/2021   F(1)   3,383 D $ 0.105 169,527 D  
Common Stock 05/17/2021   M   13,889 A (2) 183,416 D  
Common Stock 05/17/2021   D   13,889 D $ 0.105 169,527 D  

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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 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
Time-Based Phantom Shares (2) 05/17/2021   M     13,889   (3)   (3) Common Stock 13,889.00 (2) 13,889 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Newman James F.
801 CHERRY STREET
SUITE 2100
FORT WORTH, TX 76102
      See Remarks  

Signatures

 /s/ Dasha K. Hodge, Attorney-in-Fact   05/19/2021
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) In connection with the vesting of restricted stock, the Issuer withheld vested shares of common stock and agreed to satisfy the Reporting Person's tax withholding obligations in lieu of cash. The number of vested shares withheld was based on the Fair Market Value (as defined in the Basic Energy Services, Inc. 2019 Long Term Incentive Plan) of the Issuer's common stock on May 14, 2021. Such shares were acquired as treasury stock by the Issuer.
(2) Represents vesting of cash-settled time-based phantom shares (the "Phantom Shares") granted under the Basic Energy Services, Inc. 2019 Long Term Incentive Plan. Each Phantom Share is the economic equivalent of one share of Issuer common stock, subject to a maximum settlement amount of $9.00 per Phantom Share. The settlement of the Phantom Shares for cash is reported on this Form 4 as a disposition of the Phantom Shares being settled in exchange for the acquisition of the underlying Issuer common stock, and a simultaneous disposition of the underlying Issuer common stock to the Issuer for cash.
(3) 5/17/2021
 
Remarks:
Executive Vice President, Operations

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