Pruett Steven H 4

4 · LEGACY RESERVES LP · Filed Feb 21, 2012

Form 4

Period: 2012-02-18

President, CFO and Secretary

Transactions

Exercise/Conversion
Units representing limited partner interests
2012-02-18+9,580→ 14,311 total
Disposition to Issuer
Units representing limited partner interests
2012-02-18$29.67/sh−9,580$284,239→ 4,731 total
Exercise/Conversion
Phantom Units
2012-02-18−9,580→ 45,139 total
→ Units (9,580 underlying)

Holdings

Footnotes (6)

[F1]Each phantom unit represents the economic equivalent of a unit representing a limited partner interest in Legacy Reserves LP.
[F2]Reflects the closing price of the units on February 17, 2012.
[F3]SHP Capital LP owns 246,935 units. Mr. Pruett is deemed to beneficially own the units held by SHP Capital LP.
[F4]Phantom units vest annually in one-third increments on February 18th of each applicable year and are payable in cash or, at the discretion of the compensation committee of the board of directors of the general partner of the Issuer, in units.
[F5]Pursuant to the achievement of certain objective, performance-based criteria, 1,882 phantom units and 1,394 phantom units, or 32.27% each of the phantom units eligible to vest for the year ended December 31, 2011, granted on February 18, 2010 and February 18, 2011, respectively, vested. Accordingly, the remaining aggregate 6,876 phantom units eligible to vest during 2012 with respect to the February 18, 2010 and February 18, 2011 phantom unit grants did not vest and were forfeited. Additionally, 3,654 phantom units (the second tranche of the 2010 subjective phantom unit grant) and 2,650 phantom units (the first tranche of the 2011 subjective phantom unit grant), vested.
[F6]Includes the remaining 9,487 phantom units, 13,937 phantom units and 21,715 phantom units from the phantom units granted on February 18, 2010, February 18, 2011 and February 2, 2012, respectively.

Documents

1 file