Western Refining, Inc. 4
4 · Western Refining, Inc. · Filed Jun 27, 2016
Insider Transaction Report
Form 4
Barfield Lowry
Sr. VP Legal Gen Counsel & Sec
Transactions
- Award
Common Stock
2016-06-23+2,593→ 23,683 total - Award
Common Stock
2016-06-23+1,254→ 24,937 total
Holdings
- 19,937(indirect: By TGMD Family LLLP)
Common Stock
Footnotes (2)
- [F1]The transaction reported occurred in connection with the merger of Northern Tier Energy LP ("NTI") with a wholly owned subsidiary of Western Refining, Inc. ("WNR"), effective June 23, 2016. On June 23, 2016, the last trading day for NTI common units, the closing price of NTI common units was $21.15 per unit and the closing price of WNR's common stock was $20.25. Each NTI common unit held by the reporting person (except for the vested NTI phantom units discussed in Note 2, which received the Mixed Consideration) was converted into the right to receive, at his election but subject to proration, (i) $15.00 in cash without interest and 0.2986 of a share of WNR common stock ("Mixed Consideration"), (ii) $26.06 in cash without interest or (iii) 0.7036 of a share of WNR common stock.
- [F2]The reporting person received $15.00 in cash without interest and 0.2986 of a share of WNR common stock for each time-based NTI phantom unit held that vested immediately prior to the effective time of the Merger. The reporting person held 4,202 time-based NTI phantom units immediately prior to the effective time of the merger.