Weyel Steve A 4
4 · ENERGY XXI (BERMUDA) LTD · Filed Jul 24, 2008
Insider Transaction Report
Form 4
Weyel Steve A
DirectorPresident and COO
Transactions
- Award
Common Stock
2008-07-23$4.97/sh+144,118$716,266→ 3,084,841 total - Award
Restricted Stock Units
2008-07-23+144,117→ 177,450 total→ Common Stock (144,117 underlying)
Footnotes (5)
- [F1]The physical stock certificate will be issued subsequent to the Company's June 30, 2008 earnings release.
- [F2]These shares are subject to certain restrictions. Vesting of such restricted shares will occur over a three-year period, on the first, second and third anniversary dates of the original effective grant date, July 23, 2008.
- [F3]The restricted stock units were awarded under The Energy XXI Services, LLC 2006 Long-Term Incentive Plan on July 23, 2008. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock or, at the option of the Issuer, the cash equivalent.
- [F4]The restricted stock units vest in three equal annual installments beginning on July 23, 2009.
- [F5]Includes 33,333 restricted stock units that vest in equal installments on July 1, 2009 and on July 1, 2010.