Midstates Petroleum Company, Inc. 4
4 · Midstates Petroleum Company, Inc. · Filed Oct 25, 2016
Insider Transaction Report
Form 4
Elkins Mitchell G.
VP - Drilling and Completions
Transactions
- Other
Common Stock
2016-10-21−44,567→ 0 total - Award
Common Stock
2016-10-21+101,553→ 101,553 total - Award
Option (Employee Right to Buy)
2016-10-21+101,553→ 101,553 totalExercise: $19.66Exp: 2026-10-21→ Common Stock (101,553 underlying)
Footnotes (3)
- [F1]Pursuant to the Issuer's First Amended Joint Chapter 11 Plan of Reorganization (the "Plan"), which was confirmed by the United States Bankruptcy Court for the Southern District of Texas and became effective on October 21, 2016 (the "Effective Date"), the Issuer's common stock (MPOY) was cancelled on the Effective Date.
- [F2]In accordance with the Plan, the Reporting Person received an award of restricted stock, 1/6 of which will vest on the six-month anniversary of the Effective Date, an additional 1/6 of which will vest on the twelve-month anniversary of the Effective Date, an additional 1/3 of which will vest on the twenty four-month anniversary of the Effective Date and the final 1/3 of which will vest on the thirty six-month anniversary of the Effective Date.
- [F3]In accordance with the Plan, the Reporting Person received an award of stock options ("Options") granted on the Effective Date, 1/6 of which will vest on the six-month anniversary of the Effective Date, an additional 1/6 of which will vest on the twelve-month anniversary of the Effective Date, an additional 1/3 of which will vest on the twenty four-month anniversary of the Effective Date and the final 1/3 of which will vest on the thirty six-month anniversary of the Effective Date. The exercise price per share of the Options is equal to the per share value based on an Issuer equity value of $600.0 million.