4//SEC Filing
Hammond Kyle 4
Accession 0000899243-18-025089
CIK 0001358831other
Filed
Sep 23, 8:00 PM ET
Accepted
Sep 24, 7:52 PM ET
Size
23.5 KB
Accession
0000899243-18-025089
Insider Transaction Report
Form 4
Hammond Kyle
Executive V.P. and COO
Transactions
- Exercise/Conversion
Phantom Units
2018-09-20−706,200→ 0 total→ Units (706,200 underlying) - Disposition to Issuer
Units representing limited partner interests
2018-09-20$4.84/sh−414,974$2,008,474→ 398,096 total - Exercise/Conversion
Phantom Units
2018-09-20−414,974→ 0 total→ Units (414,974 underlying) - Exercise/Conversion
Units representing limited partner interests
2018-09-20+260,866→ 398,096 total - Exercise/Conversion
Units representing limited partner interests
2018-09-20+706,200→ 1,104,296 total - Exercise/Conversion
Units representing limited partner interests
2018-09-20+414,974→ 813,070 total - Disposition to Issuer
Units representing limited partner interests
2018-09-20−398,096→ 0 total - Disposition to Issuer
Units representing limited partner interests
2018-09-20−52,300→ 0 total(indirect: By Trust) - Exercise/Conversion
Phantom Units
2018-09-20−260,866→ 0 total→ Units (260,866 underlying) - Disposition to Issuer
Units representing limited partner interests
2018-09-20$4.84/sh−706,200$3,418,008→ 398,096 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) 66,087 phantom units subject to vesting on February 18, 2019; (ii) 66,960 phantom units subject to vesting on February 18, 2020; and (iii) 127,819 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) 377,640 phantom units on February 18, 2019; (ii) 267,842 phantom units on February 18, 2020; and (iii) 766,918 phantom units on February 18, 2021.
- [F5]In connection with the Corporate Reorganization, 706,200 of these phantom units automatically vested in full and were settled in cash. Another 706,200 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) 217,143 phantom units on February 18, 2019; (ii) 133,921 phantom units on February 18, 2020; and (iii) 63,910 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 both trustee and beneficiary of SDH Trust, and thus is deemed to indirectly beneficially own the Units held by the SDH Trust.
Documents
Issuer
LEGACY RESERVES LP
CIK 0001358831
Entity typeother
Related Parties
1- filerCIK 0001635126
Filing Metadata
- Form type
- 4
- Filed
- Sep 23, 8:00 PM ET
- Accepted
- Sep 24, 7:52 PM ET
- Size
- 23.5 KB