PDC ENERGY, INC. 4
4 · PDC ENERGY, INC. · Filed Jun 9, 2016
Insider Transaction Report
Form 4
PDC ENERGY, INC.PDCE
Crisafio Anthony J
Director
Transactions
- Disposition to Issuer
Common Stock
2016-06-07−455→ 18,182 total - Award
Phantom Stock
2016-06-07+455→ 2,504 total→ Common Stock (455 underlying)
Footnotes (3)
- [F1]The reporting person previously elected to defer 455 shares of restricted stock vesting on June 7, 2016 (the shares of restricted stock were originally granted on June 7, 2013), and accordingly received 455 shares of phantom stock on June 7, 2016 pursuant to the PDC Energy, Inc. Amended and Restated Non-Employee Director Deferred Compensation Plan (the "Plan"). As a result, the reporting person is reporting the disposition of 455 shares of common stock in exchange for an equal number of shares of phantom stock.
- [F2]Each share of phantom stock represents a right to receive one share of common stock or, at the reporting person's election, the cash value thereof.
- [F3]The phantom stock becomes payable upon the first to occur of (1) the reporting person's "separation of service" as defined under Section 409A of the Internal Revenue Code of 1986, as amended, or (2) a "Change in Control" of PDC Energy, Inc. as such item is defined in the Plan.