Select Water Solutions, Inc. — Director's Dealing 2019

Sep 20, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Select Energy Services, Inc. (WTTR)
CIK: 0001693256
Period of Report: 2019-08-26

Reporting Person: SES Legacy Holdings, LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-08-26	Class B Common Stock	J	179163	—	Disposed	25847680	Direct
2019-09-13	Class B Common Stock	J	7385705	—	Disposed	18461975	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-08-26	SES Holdings LLC Unit	$	J	179163	Disposed		Class A Common Stock (179163)	Direct
2019-09-13	SES Holdings LLC Unit	$	J	7385705	Disposed		Class A Common Stock (7385705)	Direct

Footnotes

F1: Each share of Class B common stock of the Issuer has no economic rights but entitles its holder to one vote on all matters to be voted on by stockholders generally.

F2: Reflects the distribution of 179,163 limited liability company units of SES Holdings, LLC (each, an "SES Holdings LLC Unit") and 179,163 shares of Class B common stock of the Issuer by SES Legacy Holdings, LLC to unitholders of SES Legacy Holdings, LLC.

F3: Subject to the terms of the limited liability company agreement of SES Holdings, LLC, by and among SES Legacy Holdings, LLC and the other members thereof, the SES Holdings LLC Units (together with a corresponding number of shares of Class B common stock of the Issuer) are exchangeable from time to time for shares of Class A common stock of the Issuer. The Issuer has the option to deliver cash in lieu of shares of Class A common stock of the Issuer upon the exercise by SES Legacy Holdings, LLC (or any transferee) of its exchange right.

F4: Reflects the distribution of 7,385,705 SES Holdings LLC Units and 7,385,705 shares of Class B common stock of the Issuer by SES Legacy Holdings, LLC to unitholders of SES Legacy Holdings, LLC.