UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
(Mark One)
x ANNUAL REPORT PURSUANT TO SECTION 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2004
or
o TRANSITION REPORT PURSUANT TO SECTION 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the Transition Period from _______ to ________
Commission file number 33-53542
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
Unit Corporation Employees' Thrift Plan
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
Unit Corporation
7130 South Lewis, Suite 1000
Tulsa, Oklahoma 74136
Unit Corporation
Employees' Thrift Plan
Index
December 31, 2004 and 2003
|
Page(s) |
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Report of Independent Registered Public Accounting Firm |
1 |
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|
Financial Statements |
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|
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Statements of Net Assets Available for Benefits |
2 |
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|
Statements of Changes in Net Assets Available for Benefits |
3 |
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Notes to Financial Statements |
4 |
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Supplemental Schedules * |
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Schedule H, Line 4i - Schedule of Assets (Held at End of Year) |
12 |
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Schedule H, Line 4j - Schedule of Reportable Transactions |
13 |
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* Other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for the Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 (ERISA) have been omitted because they are not applicable.
Report of Independent Registered Public Accounting Firm
To the Participants and Administrator of
Unit Corporation Employees Thrift Plan:
In our opinion, the accompanying statements of net assets available for benefits and the related statements of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of Unit Corporation Employees Thrift Plan (the Plan) at December 31, 2004 and 2003, and the changes in net assets available for benefits for the years ended December 31, 2004 and 2003 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Plans management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of assets (held at year end) and reportable transactions are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedules are the responsibility of the Plan's management. The supplemental schedules have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole.
Tulsa, Oklahoma
June 28, 2005
1
Unit Corporation
Employees' Thrift Plan
Statements of Net Assets Available for Benefits
December 31, 2004 and 2003
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2004 |
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2003 |
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Assets |
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| ||||
Investments, at fair value (Notes 2, 4 and 5) |
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| ||||||
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Registered mutual funds |
$ |
20,673,904 |
|
$ |
15,624,196 | |||||
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Common stock of Unit Corporation |
|
15,901,779 |
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|
9,553,370 | |||||
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Participant loans |
|
4,263 |
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|
11,681 | |||||
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|
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Total investments |
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36,579,946 |
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|
25,189,247 | |
Receivables |
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| ||||||
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Employer's contribution |
|
1,889,626 |
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|
1,409,836 | |||||
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Employees' contribution |
|
--- |
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|
62,451 | |||||
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Accrued interest and dividends |
|
16,621 |
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|
6,722 | |||||
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Due from brokers |
|
--- |
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|
30,862 | |||||
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Total receivables |
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1,906,247 |
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1,509,871 | |
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Total assets |
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38,486,193 |
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26,699,118 | |
Liabilities |
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| |||||
Payable to broker |
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--- |
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89,303 | ||||||
Payable to trustee |
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--- |
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31,374 | ||||||
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Total liabilities |
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--- |
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|
120,677 | |
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Net assets available for benefits |
$ |
38,486,193 |
|
$ |
26,578,441 |
The accompanying notes are an integral part of these financial statements.
2
Unit Corporation
Employees' Thrift Plan
Statements of Changes in Net Assets Available for Benefits
Years Ended December 31, 2004 and 2003
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2004 |
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2003 |
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Additions |
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Investment income |
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| ||||||
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Interest and dividend income |
$ |
202,057 |
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$ |
156,802 |
| |||||
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Net appreciation in fair value |
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| |||||
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of investments |
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7,505,779 |
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4,138,721 |
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7,707,836 |
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4,295,523 |
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Contributions |
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|
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|
|
| ||||||
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Employer |
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1,884,713 |
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1,407,464 |
| |||||
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Employee |
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2,643,677 |
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1,996,588 |
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Rollovers |
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99,233 |
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220,939 |
| ||||
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Transfers in (Note 1) |
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1,876,153 |
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|
360 |
| |||||
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Total additions |
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14,211,612 |
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|
7,920,874 |
| |
Deductions |
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| ||||||
Distributions |
|
(2,303,860 |
) |
|
(777,122 |
) | ||||||
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Net increase |
|
11,907,752 |
|
|
7,143,752 |
| |
Net assets available for benefits |
|
|
|
|
|
| ||||||
Beginning of the year |
|
26,578,441 |
|
|
19,434,689 |
| ||||||
End of the year |
$ |
38,486,193 |
|
$ |
26,578,441 |
|
The accompanying notes are an integral part of these financial statements.
3
Unit Corporation
Employees' Thrift Plan
Notes to Financial Statements
December 31, 2004 and 2003
1. |
Description of Plan |
The following description of the Unit Corporation Employees' Thrift Plan (the "Plan") provides only general information. Participants should refer to the Plan for a more complete description of the Plan's provisions.
General
The Plan is a defined contribution plan covering all eligible employees of Unit Corporation (the Company), the Plan sponsor. Bank of Oklahoma, N.A., serves as trustee for the Plan under a trust agreement dated August 1, 1985. The Plan is subject to the provisions of the Employment Retirement Income Security Act of 1974, as amended (ERISA).
The Plan allows participation on the first day of any service month immediately following the attainment of age 21 and completion of three months of service.
Contributions
The Plan allows participants to contribute up to 100% of their total monthly compensation (including overtime pay, bonuses and other extraordinary compensation), subject to Internal Revenue Service (IRS) maximum contribution limitations. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans.
The Company may contribute to the Plan a specified percentage of participant contributions determined by the Company's Board of Directors, limited to 6% of participant compensation. The Company may also contribute an additional amount from its net profits and accumulated net profits as determined by the Board of Directors from time to time. The Company contribution for 2004 was $1,884,713, which was 100% of participating employees first 6% of contributions. The Company contribution for 2003 was $1,407,464, which was 100% of participating employees first 6% of contributions.
Transfers In
Effective June 25, 2004, the Serdrilco, Inc. 401(k) Savings Plan was merged into the Plan, which resulted in $1,555,248 in assets transferred into the Plan during 2004.
Participants Accounts
Each participant's account is credited with the participant's contribution, the Company's contribution, if any, and Plan earnings. Plan earnings are allocated based on account balances as of the preceding valuation date, plus the proportionate allocation of contributions received since the previous valuation date. The benefit to which a participant is entitled is that which can be derived from the participants vested account.
4
Unit Corporation
Employees' Thrift Plan
Notes to Financial Statements
December 31, 2004 and 2003
Vesting, Payment of Benefits and Forfeitures
Participants are immediately vested in their own contributions plus actual earnings thereon. Vesting of the Company's contribution and related earnings is based on years of employee service or the attainment of normal retirement age for Company contributions made before 1999 and are as follows:
|
Nonforfeitable |
Vesting Service |
Percentage |
Less than 2 years |
0% |
2 years but less than 3 years |
20% |
3 years but less than 4 years |
40% |
4 years but less than 5 years |
60% |
5 years but less than 6 years |
80% |
6 years or more |
100% |
In 1999, the Company began matching under the IRS Safe Harbor rules which require these contributions to be immediately 100 percent vested.
Normal retirement age is 65. Participants may generally elect the form of payment from several options, including a lump sum payment or by transferring to another plan which is qualified under Section 401(c) of the Internal Revenue Code.
The participant's account balance is retained in the Plan until the participant requests a payment due to termination, death, disability, or retirement. Participants forfeit the nonvested portion of their account upon distribution of vested benefits. Forfeited nonvested amounts, which were not significant in 2004 or 2003, reduce the amount of employer matching contributions for the Plan year in which participants receive a distribution of their entire vested account.
Withdrawals
Participants may withdraw their salary reduction contributions only upon termination, attainment of age 591/2 or normal retirement age or in the event of hardship as defined under the IRS Code. The vested portion of Company contributions may be withdrawn only upon termination of employment or attainment of age 59-1/2 if 100% vested.
5
Unit Corporation
Employees' Thrift Plan
Notes to Financial Statements
December 31, 2004 and 2003
Investment Options
The Plan provides for the participant contributions to be invested at the election of the participant into any combination of the following options:
American Performance Cash Management Fund
The American Performance Cash Management Fund seeks current income with liquidity and stability of principal by investing in U.S. dollar denominated, high-quality short-term debt and other short-term obligations of high quality.
PIMCO Total Return Fund
The PIMCO Total Return Fund is a high quality, well-diversified, intermediate maturity portfolio that seeks to maintain the value of original investments and to prudently maximize investments earnings.
Dodge & Cox Balanced Fund
The Dodge & Cox Balanced Fund seeks conservation of principal and long-term growth of principal of income by investing in a diversified portfolio of common stocks, preferred stocks, and fixed income securities.
PIMCO Capital Appreciation Fund
The PIMCO Capital Appreciation Fund seeks capital growth by primarily investing in common stocks of companies with capitalization of at least $100 million.
Neuberger & Berman Partners Trust Fund
The Neuberger & Berman Partners Trust Fund seeks capital growth by investing in preferred stocks, convertible securities, and debt securities.
Neuberger & Berman Genesis Trust Fund
The Neuberger & Berman Genesis Trust Fund seeks capital appreciation by primarily investing in common stocks of companies with market capitalization of less than $1.5 billion.
American Performance Equity Fund
American Performance Equity Fund seeks growth of capital and, secondarily, income. The fund normally invests at least 70% of assets in a diversified portfolio of common stocks and convertible securities.
American Performance Balanced Fund
American Performance Balanced Fund seeks current income; long-term capital growth is secondary. The fund invests in both equities and debt securities, but it maintains at least 25% of assets in fixed-income securities.
Fidelity Advisors Mid Cap Fund
Fidelity Advisor Mid Cap Fund seeks long-term growth capital. The fund normally invests at least 65% of assets in companies with medium market capitalizations.
6
Unit Corporation
Employees' Thrift Plan
Notes to Financial Statements
December 31, 2004 and 2003
Janus Fund
Janus Fund seeks long-term capital growth consistent with preservation of capital. The fund invests primarily in common stocks of larger, more-established companies, though it may invest in a large number of issuers of any size.
T. Rowe Price New Horizons Fund
T. Rowe Price New Horizons Fund seeks capital appreciation; current income is not a factor. The fund invests primarily in common stocks of small, rapidly growing companies.
Vanguard 500 Index Fund
Vanguard 500 Index Fund seeks investment results that correspond with the price and yield performance of the S&P 500 Index.
Vanguard Fixed Income Security Fund
Vanguard Long-Term Corporate Bond Fund seeks current income consistent with maintenance of principal and liquidity.
American Growth Fund
The American Growth Fund of America seeks capital growth by investing primarily in common stocks of companies that appear to offer superior opportunities for growth capital. The fund is investors with a long-term investment horizon.
American Washington Mutual Investor Fund R3
The American Washington Mutual Fund Investor Fund seeks to produce current income and to provide an opportunity for growth of principal. The Fund invests primarily in common stocks or larger, more established companies that have a strong record of earnings and dividends.
Hotchkis & Wiley Mid-Cap Value Fund
The Hotchkis Wiley Mid-Cap Fund seeks current income and long-term growth of income, accompanied by growth of capital. The fund normally invests at least 65% of assets in stocks issued by domestic companies with market capitalizations between $750 million and $5 billion.
American AAdvantage Small-Cap Value Fund
The American AAdvantage Small-Cap Value fund seeks long-term capital appreciation and current income. At least 80% of the total assets of the Fund are invested in equity securities of U.S. companies with market capitalizations of $2 billion or less at the time of investment.
Common Stock of Unit Corporation
The Unit Corporation common stock fund includes contributions from the Company and participants. Participant contributions are directed solely by the participants. Contributions from the Company are directed by the Company. Once the common stock has been contributed to the Plan, the participants may sell the common stock and allocate the proceeds to other funds in the Plan. All other funds are participant directed.
7
Unit Corporation
Employees' Thrift Plan
Notes to Financial Statements
December 31, 2004 and 2003
2. |
Summary of Significant Accounting Policies |
Basis of Presentation
The accompanying financial statements of the Plan are presented on the accrual basis of accounting.
Investment Valuation and Income Recognition
Investments in Unit Corporation Common Stock are stated at current market value as established by quoted market prices in an active market. All other investments, which are registered open-ended mutual funds, are valued at the net asset value of shares held by the Plan at year-end.
The Plan presents in the statements of changes in net assets the net appreciation (depreciation) in the fair value of its investments which consists of the realized gains or losses and the unrealized appreciation (depreciation) on those investments.
Purchases and sales of securities are recorded on a trade-date basis. Interest and dividend income are recorded on an accrual basis.
Administrative Expenses |
The costs of administering the Plan are borne by the Company and are not reflected in the accompanying financial statements. Such costs totalled approximately $45,300 and $27,000 for the years ended December 31, 2004 and 2003, respectively.
Payment of Benefits
Distributions are recorded when paid to participants. |
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the plan administrator to make significant estimates and assumptions that affect the reported amounts of net assets available for benefits and, when applicable, disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of changes in net assets available for benefits during the reporting period. Actual results could differ from those estimates.
3. |
Plan Termination |
Although it has expressed no intention to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of the Employee Retirement Income Security Act of 1974. In the event of Plan termination, participants will become fully vested in their accounts.
8
Unit Corporation
Employees' Thrift Plan
Notes to Financial Statements
December 31, 2004 and 2003
4. |
Investments |
All investments were held on behalf of the Plan by the trustee under a trust agreement dated August 1, 1985. Investments held by the Plan representing 5% or more of the Plans net assets are as follows:
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Fair |
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Shares |
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Value |
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|
December 31, 2004 |
|
|
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| ||
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|
Registered mutual funds |
|
|
|
|
| ||
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|
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American Performance Cash |
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|
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| |
|
|
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|
Management Fund |
4,554,000 |
|
$ |
4,554,000 |
| |
|
|
|
|
|
Dodge & Cox Balanced Fund |
52,575 |
|
|
4,171,798 |
| |
|
|
|
|
|
PIMCO Cap Appreciation Fund |
134,939 |
|
|
2,396,518 |
| |
|
|
|
|
|
Neuberger & Berman Genesis Trust Fund |
82,490 |
|
|
3,519,839 |
| |
|
|
|
|
Common stock of Unit Corporation |
416,168 |
|
|
15,901,779 |
| ||
|
|
|
|
December 31, 2003 |
|
|
|
|
| ||
|
|
|
|
Registered mutual funds |
|
|
|
|
| ||
|
|
|
|
|
American Performance Cash |
|
|
|
|
| |
|
|
|
|
|
Management Fund |
3,943,679 |
|
$ |
3,943,679 |
| |
|
|
|
|
|
PIMCO Total Return Fund |
147,349 |
|
|
1,578,111 |
| |
|
|
|
|
|
Dodge & Cox Balanced Fund |
42,178 |
|
|
3,080,646 |
| |
|
|
|
|
|
PIMCO Cap Appreciation Fund |
158,940 |
|
|
2,525,557 |
| |
|
|
|
|
|
Neuberger & Berman Genesis Trust Fund |
69,585 |
|
|
2,576,739 |
| |
|
|
|
|
Common stock of Unit Corporation |
405,663 |
|
|
9,553,370 |
|
During 2004 and 2003, the Plans investments (including gains or losses on investments bought and sold as well as held during the year) appreciated (depreciated) in value as follows:
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|
|
|
2004 |
|
|
2003 |
|
|
|
|
|
|
|
|
|
|
|
|
Mutual funds |
$ |
1,667,131 |
|
$ |
(1,068,985 |
) | ||
|
Common stock |
|
5,838,648 |
|
|
5,207,706 |
| ||
|
|
|
Net Appreciation in fair value of investments |
$ |
7,505,779 |
|
$ |
4,138,721 |
|
9
Unit Corporation
Employees' Thrift Plan
Notes to Financial Statements
December 31, 2004 and 2003
5. |
Nonparticipant-Directed Investments |
The following tables set forth information related to the Unit Corporation common stock funds assets available for benefits as of December 31, 2004 and 2003 and the changes in such assets for the years then ended.
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2004 |
|
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2003 |
|
|
|
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|
|
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|
|
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|
|
Net assets |
|
|
|
|
|
| ||
|
Unit Corporation common stock |
$ |
15,901,779 |
|
$ |
9,553,370 |
| ||
|
Employer's contribution receivable |
|
1,889,626 |
|
|
1,409,836 |
| ||
|
Employees' contribution receivable |
|
--- |
|
|
13,350 |
| ||
|
|
|
|
$ |
17,791,405 |
|
$ |
10,976,556 |
|
|
|
|
|
|
|
|
|
|
|
|
Changes in net assets |
|
|
|
|
|
| ||
|
Contributions |
$ |
2,448,229 |
|
$ |
1,841,384 |
| ||
|
Net appreciation |
|
6,069,058 |
|
|
2,229,910 |
| ||
|
Distributions |
|
(906,708 |
) |
|
(378,033 |
) | ||
|
Transfers |
|
(795,730 |
) |
|
(447,711 |
) | ||
|
|
|
|
$ |
6,814,849 |
|
$ |
3,245,550 |
|
6. |
Income Tax Status |
A favorable determination of the qualification of the Plan under Section 401 of the Internal Revenue Code and the tax exempt status of the Trust under Section 501 was received from the IRS in August 2001 covering amendments to the Plan subsequent to its previous determination letter obtained in June 1998. There have been amendments since the August 2001 determination letter. However, the plan administrator and the Plans tax counsel believe that the Plan is currently designed and being operated in compliance with the applicable requirements of the Internal Revenue Code. Therefore, no provision for income taxes has been included in the Plans financial statements.
7. |
Risks and Uncertainties |
The Plan provides for various investment options in any combination of stocks, bonds, fixed income securities, mutual funds, and other investment securities. Investment securities are exposed to various risks, such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants' account balances and the amounts reported in the statement of net assets available for benefits and the statement of changes in net assets available for benefits.
10
Unit Corporation
Employees' Thrift Plan
Notes to Financial Statements
December 31, 2004 and 2003
8. |
Benefits Due to Participants |
At December 31, 2004 and 2003, there were no benefits payable to participants who had elected to withdraw from the Plan but had not yet been paid.
9. |
Party-In-Interest |
Certain Plan investments are shares of Unit Corporation common stock. These transactions represent investments in the Company and, therefore, qualify as party-in-interest. The fair value of this investment totaled $15,901,779 and $9,553,370 at December 31, 2004 and 2003, respectively.
10. |
Subsequent Event |
Effective February 25, 2005, Sauer Drilling Company 401 (k) was merged into the Unit Corporation Employees Thrift Plan, which resulted in approximately $1.5 million in assets being transferred into the Plan.
11
Unit Corporation
Employees' Thrift Plan
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2004
|
|
|
Description of |
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|
|
|
|
|
Current |
| ||||
|
Identity of Issue |
|
Investment |
|
Shares |
|
|
Cost |
|
|
Value |
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hotchkis & Wiley Mid-Cap Value Fund |
|
Mutual Fund |
|
7,844 |
|
$ |
195,919 |
|
$ |
213,279 |
| ||||
|
American Performance Cash Management Fund |
|
Mutual Fund |
|
4,554,000 |
|
|
4,554,000 |
|
|
4,554,000 |
| ||||
|
PIMCO Total Return Fund |
|
Mutual Fund |
|
162,523 |
|
|
1,733,143 |
|
|
1,734,118 |
| ||||
|
Dodge & Cox Balanced Fund |
|
Mutual Fund |
|
52,575 |
|
|
3,587,659 |
|
|
4,171,798 |
| ||||
|
PIMCO Capital Appreciation Fund |
|
Mutual Fund |
|
134,939 |
|
|
2,484,294 |
|
|
2,396,518 |
| ||||
|
Neuberger & Berman Partners Trust Fund |
|
Mutual Fund |
|
46,577 |
|
|
744,518 |
|
|
899,869 |
| ||||
|
Neuberger & Berman Genesis Trust Fund |
|
Mutual Fund |
|
82,490 |
|
|
2,626,532 |
|
|
3,519,839 |
| ||||
|
American Washington Mutual Investors Fund R3 |
Mutual Fund |
|
22,118 |
|
|
636,620 |
|
|
678,125 |
| |||||
|
American AAdvantage Small-Cap Value Fund |
|
Mutual Fund |
|
5,202 |
|
|
94,118 |
|
|
103,574 |
| ||||
|
Fidelity Advisors Mid Cap Fund |
|
Mutual Fund |
|
20,221 |
|
|
413,189 |
|
|
509,982 |
| ||||
|
American Growth Fund |
|
Mutual Fund |
|
22,595 |
|
|
564,408 |
|
|
612,327 |
| ||||
|
T Rowe Price New Horizons Fund |
|
Mutual Fund |
|
11,603 |
|
|
276,763 |
|
|
339,280 |
| ||||
|
Vanguard 500 Index Fund |
|
Mutual Fund |
|
5,215 |
|
|
517,404 |
|
|
582,190 |
| ||||
|
Vanguard Fixed Income Security Fund |
|
Mutual Fund |
|
37,592 |
|
|
347,445 |
|
|
359,005 |
| ||||
* |
Unit Corporation |
|
Common Stock, $0.20 par value |
|
416,168 |
|
|
7,063,837 |
|
|
15,901,779 |
| ||||
* |
Participant loans |
|
Interest rate of 5.28% to 9% |
|
|
|
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
maturity April 30, 2007 through |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
November 30, 2007 |
|
|
|
|
--- |
|
|
4,263 |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
25,839,849 |
|
$ |
36,579,946 |
|
* Represents investments which qualify as party-in-interest.
12
Unit Corporation
Employees' Thrift Plan
Schedule H, Line 4j - Schedule of Reportable Transactions
December 31, 2004
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
|
|
|
|
|
|
|
|
Identity of |
|
|
|
|
|
|
|
|
|
|
|
Value of |
|
|
|
|
|
|
|
|
|
Party Involved/ |
|
|
|
|
|
|
|
|
|
|
|
Asset |
|
|
Net |
|
Number of |
|
Description of |
|
|
Purchase |
|
|
Selling |
|
|
Cost of |
|
|
on Date of |
|
|
Gain or |
| |||
Transactions |
|
Assets |
|
|
Price |
|
|
Price |
|
|
Asset |
|
|
Transaction |
|
|
(Loss) |
| |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
321 |
|
|
|
BOSC Inc./ |
|
|
|
|
$ |
2,834,417 |
|
$ |
1,440,483 |
|
$ |
2,834,417 |
|
$ |
1,393,934 |
| |
|
|
|
|
|
Unit Corporation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
348 |
|
|
|
BOSC Inc./ |
|
$ |
2,199,208 |
|
|
|
|
$ |
2,199,208 |
|
$ |
2,199,208 |
|
|
|
| |
|
|
|
|
|
Unit Corporation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
UNIT CORPORATION EMPLOYEES' THRIFT PLAN
Unit Corporation as Administrator of the Plan
By: /s/ Mark E. Schell |
Date: June 28, 2005 |
Mark E. Schell
Senior Vice President, General Counsel and Secretary
14
EXHIBIT INDEX
Exhibit Number
23.1 |
Consent of Independent Registered Public Accounting Firm |
15