PLAINS EXPLORATION & PRODUCTION CO 4
4 · PLAINS EXPLORATION & PRODUCTION CO · Filed Jun 4, 2013
Insider Transaction Report
Form 4
Williams Nancy I
VP-Acctg,Controller & CAO
Transactions
- Disposition to Issuer
Common Stock
2013-05-31$46.01/sh−19,374$891,398→ 84,032 total - Disposition to Issuer
Common Stock
2013-05-31−68,963→ 0 total - Exercise/Conversion
Restricted Stock Units
2013-05-31−19,374→ 0 total→ Common Stock (19,374 underlying) - Exercise/Conversion
Common Stock
2013-05-31+19,374→ 103,406 total - Tax Payment
Common Stock
2013-05-31−15,069→ 68,963 total - Disposition to Issuer
Restricted Stock Units
2013-05-31−25,000→ 0 total→ Common Stock (25,000 underlying)
Footnotes (4)
- [F1]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.
- [F2]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.
- [F3]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 and/or cash equal to $46.01 per share. Of these shares, 15,000 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 21,453 FCX restricted stock units with the same vesting terms.
- [F4]These cash-settled 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, were assumed by FCX in the merger and replaced with 35,755 cash-settled restricted stock units with the same vesting terms.