Kelly Daniel E 4
4 · SRC Energy Inc. · Filed Jan 14, 2020
Insider Transaction Report
Form 4
SRC Energy Inc.SRCI
Kelly Daniel E
Director
Transactions
- Disposition to Issuer
Common Stock
2020-01-14−8,316→ 0 total - Disposition to Issuer
Common Stock
2020-01-14−111,563→ 0 total - Award
Common Stock
2020-01-01+8,316→ 111,563 total
Footnotes (3)
- [F1]Represents shares issued quarterly by SRC Energy Inc. (the "Company") as consideration for annual director compensation. Valuation pursuant to director compensation arrangements.
- [F2]On January 14, 2020, pursuant to the Agreement and Plan of Merger, dated as of August 25, 2019 (the "Merger Agreement"), by and between PDC Energy, Inc. ("PDC") and the Company, the Company merged with and into PDC (the "Merger"), with PDC surviving the Merger. Pursuant to the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each share of Company common stock issued and outstanding immediately prior to the Effective Time owned by the reporting person converted into the right to receive 0.158 of a validly issued, fully-paid and nonassessable share of PDC common stock, with cash in lieu of any fractional shares (the "Merger Consideration"). The closing price per share of PDC common stock on January 13, 2020, the day prior to the Effective Time, was $25.78.
- [F3]On January 14, 2020, immediately prior to the Effective Time, each then outstanding restricted stock unit award in respect of shares of SRC common stock, whether vested or unvested, became fully vested and was cancelled and converted into the right to receive the Merger Consideration in respect of each share of SRC common stock subject to the award (less required tax withholdings), pursuant to the Merger Agreement.