4//SEC Filing
McGraw Kyle A 4
Accession 0000899243-18-025091
CIK 0001358831other
Filed
Sep 23, 8:00 PM ET
Accepted
Sep 24, 7:53 PM ET
Size
23.6 KB
Accession
0000899243-18-025091
Insider Transaction Report
Form 4
McGraw Kyle A
DirectorEVP of Bus Dev and Land
Transactions
- Disposition to Issuer
Units representing limited partner interests
2018-09-20$4.84/sh−324,346$1,569,835→ 229,501 total - Exercise/Conversion
Units representing limited partner interests
2018-09-20+467,535→ 697,036 total - Disposition to Issuer
Units representing limited partner interests
2018-09-20$4.84/sh−467,535$2,262,869→ 229,501 total - Exercise/Conversion
Phantom Units
2018-09-20−467,535→ 0 total→ Units (467,535 underlying) - Disposition to Issuer
Units representing limited partner interests
2018-09-20−1,020,060→ 0 total(indirect: By Kyle A. McGraw Family Holdings, Ltd.) - Exercise/Conversion
Units representing limited partner interests
2018-09-20+176,957→ 229,501 total - Exercise/Conversion
Units representing limited partner interests
2018-09-20+324,346→ 553,847 total - Disposition to Issuer
Units representing limited partner interests
2018-09-20−229,501→ 0 total - Exercise/Conversion
Phantom Units
2018-09-20−324,346→ 0 total→ Units (324,346 underlying) - Exercise/Conversion
Phantom Units
2018-09-20−176,957→ 0 total→ Units (176,957 underlying)
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) 54,783 phantom units subject to vesting on February 18, 2019; (ii) 55,507 phantom units subject to vesting on February 18, 2020; and (iii) 66,667 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) 313,044 phantom units on February 18, 2019; (ii) 222,026 phantom units on February 18, 2020; and (iii) 400,000 phantom units on February 18, 2021.
- [F5]In connection with the Corporate Reorganization, 467,535 of these phantom units automatically vested in full and were settled in cash. Another 467,535 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) 180,000 phantom units on February 18, 2019; (ii) 111,013 phantom units on February 18, 2020; and (iii) 33,333 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 partial owner of the Kyle A. McGraw Family Holdings, Ltd. and thus is deemed to indirectly beneficially own the Units held by Kyle A. McGraw Family Holdings, Ltd.
Documents
Issuer
LEGACY RESERVES LP
CIK 0001358831
Entity typeother
Related Parties
1- filerCIK 0001385052
Filing Metadata
- Form type
- 4
- Filed
- Sep 23, 8:00 PM ET
- Accepted
- Sep 24, 7:53 PM ET
- Size
- 23.6 KB