4//SEC Filing
PLAINS EXPLORATION & PRODUCTION CO 4
Accession 0000891456-13-000042
CIK 0000891456operating
Filed
Jun 3, 8:00 PM ET
Accepted
Jun 4, 4:11 PM ET
Size
21.5 KB
Accession
0000891456-13-000042
Insider Transaction Report
Form 4
FLORES JAMES C
DirectorChairman of the Board
Transactions
- Disposition to Issuer
Common Stock
2013-05-31$46.01/sh−69,450$3,195,395→ 4,582,260 total - Disposition to Issuer
Common Stock
2013-05-31−199→ 0 total(indirect: By 401(k)) - Disposition to Issuer
Common Stock
2013-05-31−200,000→ 0 total(indirect: Sable Management, L.P.) - Award
Common Stock
2013-05-31+1,400,000→ 4,582,260 total - Disposition to Issuer
Common Stock
2013-05-31−3,038,079→ 0 total - Disposition to Issuer
Performance Rights
2013-05-31−90,000→ 0 total→ Common Stock (90,000 underlying) - Exercise/Conversion
Performance Rights
2013-05-31−69,450→ 0 total→ Common Stock (69,450 underlying) - Exercise/Conversion
Common Stock
2013-05-31+69,450→ 4,651,710 total - Disposition to Issuer
Common Stock
2013-05-31−280,000→ 0 total(indirect: By Partnership) - Tax Payment
Common Stock
2013-05-31−1,544,181→ 3,038,079 total
Footnotes (8)
- [F1]Represents restricted stock units to which the executive was contractually entitled that vested upon the merger with FCX.
- [F2]Represents cash-settled restricted stock units, all of which vested upon the merger with FCX, the value of which is equivalent to $46.01, which is the Per Share Amount in the merger agreement between PXP and FCX.
- [F3]Shares were traded for taxes based on the value of the merger consideration that each share was entitled to receive as of the close of business on May 30, 2013.
- [F4]Disposed of pursuant to merger agreement between PXP and FCX in exchange for shares of FCX common stock at an exchange ratio of ~ 1.43 per share. Of these 3,038,079 shares, 90,000 are restricted stock units that will vest over five years, with 22.5% vesting on each of March 31, 2014, March 31, 2015 and March 31, 2016 and 16.25% vesting on each of March 31, 2017 and March 31, 2018, which were assumed by FCX in the merger and replaced with 128,718 FCX restricted stock units with the same vesting terms.
- [F5]The information in this report is based on a plan statement dated as of May 31, 2013.
- [F6]By Flores, L.P., a limited partnership, controlled by reporting person as general partner.
- [F7]Reporting person is a limited partner and the managing member of a limited liability company that is general partner of Sable Management, L.P.
- [F8]These performance rights, which represent cash-settled restricted stock units that will vest over three years, with 33.3% vesting on each of March 31, 2014, March 31, 2015 and March 31, 2016, each based on achievement of performance goals, were assumed by FCX in the merger and replaced with 128,718 cash-settled restricted stock units with the same vesting terms.
Documents
Issuer
PLAINS EXPLORATION & PRODUCTION CO
CIK 0000891456
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0000891456
Filing Metadata
- Form type
- 4
- Filed
- Jun 3, 8:00 PM ET
- Accepted
- Jun 4, 4:11 PM ET
- Size
- 21.5 KB