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: 2019-09-13

Reporting Person: Schmitz John (Director, Executive Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-09-13	Class B Common Stock	C	7385705	—	Disposed	0	Indirect
2019-09-13	Class A Common Stock	C	6986021	—	Acquired	6986021	Indirect
2019-09-13	Class A Common Stock	C	399684	—	Acquired	399684	Indirect

Derivative Transactions

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

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	165672	Direct

Footnotes

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

F2: Represents 7,385,705 limited liability company units of SES Holdings, LLC (each, an "SES Holdings LLC Unit") and 7,385,705 shares of Class B common stock held directly by SES Legacy Holdings, LLC for which John Schmitz may have been deemed to be the beneficial owner. John Schmitz generally had the right to acquire beneficial ownership of such 7,385,705 SES Holdings LLC Units and 7,385,705 shares of Class B common stock held by SES Legacy Holdings, LLC at his election pursuant to the SES Legacy Holdings, LLC limited liability company agreement.

F3: Reflects the distribution from SES Legacy Holdings, LLC, to Sunray Capital, LP, of 6,986,021 SES Holdings LLC Units and 6,986,021 shares of Class B common stock of the Issuer and the exchange of such SES Holdings LLC Units and Class B common stock for an equal number of shares of Class A common stock of the Issuer.

F4: Reflects the distribution from SES Legacy Holdings, LLC, to B-29 Investments, LP, of 399,684 SES Holdings LLC Units and 399,684 shares of Class B common stock of the Issuer and the exchange of such SES Holdings LLC Units and Class B common stock for an equal number of shares of Class A common stock of the Issuer.

F5: 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.