Stratton J. Jay Jr. 4
4 · ULTRA PETROLEUM CORP · Filed May 27, 2020
Insider Transaction Report
Form 4
ULTRA PETROLEUM CORPUPLCQ
Stratton J. Jay Jr.
Chief Operating Officer
Transactions
- Exercise/Conversion
Common Stock
2020-05-25+68,176→ 366,365 total - Exercise/Conversion
Restricted Stock Units
2020-05-25−68,176→ 956,848 total→ Common Stock (68,176 underlying) - Tax Payment
Common Stock
2020-05-25$0.01/sh−19,831$190→ 346,534 total
Footnotes (4)
- [F1]Such time-based restricted stock units converted on a one-for-one basis.
- [F2]On July 16, 2018, the Reporting Person was granted 204,528 time-based restricted stock units, scheduled to vest, if at all, in three equal annual installments beginning on May 25, 2019.
- [F3]Following the transaction reported herein, 68,176 of such remaining restricted stock units are time-based and will vest, if at all, in one remaining installment on May 25, 2021. 119,904 of the restricted stock units set forth in box 9 of this Form 4 are time-based and will vest, if at all, in two equal annual installments beginning March 1, 2021. The time-based awards will terminate and the applicable restricted stock units will not vest if the Reporting Person is not employed by the Company on the date any portion of the award is scheduled to vest.
- [F4](Continued from Footnote 3) 768,768 of the restricted stock units are subject to both performance-based and time-based vesting terms. The performance-based vesting conditions are assessed based on the volume-weighted average price of the Company's common shares as measured over 60 consecutive trading days relative to pre-established price goals. Once a performance-based vesting condition is achieved, the restricted stock units that have become performance vested will time-vest over the two or three-year period following the date on which they became performance vested.