4//SEC Filing
Horne Paul T 4
Accession 0000899243-18-025087
CIK 0001358831other
Filed
Sep 23, 8:00 PM ET
Accepted
Sep 24, 7:49 PM ET
Size
23.5 KB
Accession
0000899243-18-025087
Insider Transaction Report
Form 4
Horne Paul T
EVP of Operations
Transactions
- Exercise/Conversion
Phantom Units
2018-09-20−1,510,958→ 0 total→ Units (1,510,958 underlying) - Exercise/Conversion
Units representing limited partner interests
2018-09-20+563,551→ 633,867 total - Disposition to Issuer
Units representing limited partner interests
2018-09-20$4.84/sh−1,510,958$7,313,037→ 633,867 total - Exercise/Conversion
Units representing limited partner interests
2018-09-20+951,005→ 1,584,872 total - Disposition to Issuer
Units representing limited partner interests
2018-09-20$4.84/sh−951,005$4,602,864→ 633,867 total - Disposition to Issuer
Units representing limited partner interests
2018-09-20−121,684→ 0 total(indirect: By H2K Holdings, Ltd) - Exercise/Conversion
Phantom Units
2018-09-20−563,551→ 0 total→ Units (563,551 underlying) - Exercise/Conversion
Phantom Units
2018-09-20−951,005→ 0 total→ Units (951,005 underlying) - Exercise/Conversion
Units representing limited partner interests
2018-09-20+1,510,958→ 2,144,825 total - Disposition to Issuer
Units representing limited partner interests
2018-09-20−633,867→ 0 total
Footnotes (7)
- [F1]In connection with the corporate reorganization of the Issuer from a master limited partnership to a corporation (the "Corporate Reorganization"), each outstanding unit representing a limited partner interest in the Issuer ("Unit") was converted into the right to receive one share of common stock, $0.01 par value per share, of Legacy Reserves Inc. ("New Legacy Common Stock").
- [F2]Each phantom unit represents the economic equivalent of a Unit.
- [F3]These phantom units were granted pursuant to an award agreement that provided for settlement in Units and were scheduled to vest as follows: (i) 155,435 phantom units subject to vesting on February 18, 2019; (ii) 157,489 phantom units subject to vesting on February 18, 2020; and (iii) 250,627 phantom units subject to vesting on February 18, 2021. In connection with the Corporate Reorganization, these phantom units automatically vested in full and were settled in Units.
- [F4]These phantom units were granted pursuant to an award agreement that provided for settlement in cash and provided for cliff vesting in the third year after grant, subject to the achievement of certain performance-based criteria during the three fiscal years prior to the vesting date. The vesting schedule was as follows: (i) 888,200 phantom units on February 18, 2019; (ii) 629,956 phantom units on February 18, 2020; and (iii) 1,503,760 phantom units on February 18, 2021.
- [F5]In connection with the Corporate Reorganization, 1,510,958 of these phantom units automatically vested in full and were settled in cash. Another 1,510,958 phantom units were forfeited.
- [F6]These phantom units were granted pursuant to an award agreement that provided for settlement in cash and were scheduled to vest as follows: (i) 510,714 phantom units on February 18, 2019; (ii) 314,978 phantom units on February 18, 2020; and (iii) 125,313 phantom units on February 18, 2021. In connection with the Corporate Reorganization, these phantom units automatically vested in full and were settled in cash.
- [F7]The Reporting Person is the president of H2K Holdings, Ltd. and thus is deemed to indirectly beneficially own the Units held by H2K Holdings, Ltd.
Documents
Issuer
LEGACY RESERVES LP
CIK 0001358831
Entity typeother
Related Parties
1- filerCIK 0001385058
Filing Metadata
- Form type
- 4
- Filed
- Sep 23, 8:00 PM ET
- Accepted
- Sep 24, 7:49 PM ET
- Size
- 23.5 KB