4//SEC Filing
Nelson Steve 4
Accession 0001140361-12-033685
CIK 0001343719other
Filed
Jul 22, 8:00 PM ET
Accepted
Jul 23, 5:53 PM ET
Size
23.5 KB
Accession
0001140361-12-033685
Insider Transaction Report
Form 4
Nelson Steve
VP, Drilling and Production
Transactions
- Other
Common Stock
2012-07-21+19,234→ 89,709 total - Other
Common Stock
2012-07-21−389→ 84,803 total - Other
Common Stock
2012-07-21−9,896→ 79,813 total - Other
Common Stock
2012-07-21+9,523→ 89,336 total - Other
Common Stock
2012-07-21−4,900→ 84,436 total - Other
Common Stock
2012-07-21+756→ 85,192 total - Other
Performance Units
2012-07-21−32,533→ 0 total→ Common Stock (32,533 underlying) - Other
Performance Units
2012-07-21−34,000→ 34,000 total→ Common Stock (34,000 underlying) - Award
Performance Units
2012-07-21+126,000→ 126,000 total→ Common Stock (126,000 underlying) - Other
Performance Units
2012-07-21−40,163→ 80,325 total→ Common Stock (40,163 underlying)
Holdings
- 5,568.627(indirect: By 401(k))
Common Stock
Footnotes (6)
- [F1]Represents vesting of the last one-third of Mr. Nelson's performance units granted on July 21, 2009. Mr. Nelson elected to pay a tax liability arising upon vesting of the performance units by having the Issuer withhold shares that would have otherwise been issued to Mr. Nelson. The 9,896 shares withheld had a value equal to the tax liability.
- [F2]Represents vesting of the second one-third of Mr. Nelson's performance units granted on July 21, 2010. Mr. Nelson elected to pay a tax liability arising upon vesting of the performance units by having the Issuer withhold shares that would have otherwise been issued to Mr. Nelson. The 4,900 shares withheld had a value equal to the tax liability.
- [F3]Represents vesting of the first one-third of Mr. Nelson's performance units granted on July 21, 2011. Mr. Nelson elected to pay a tax liability arising upon vesting of the performance units by having the Issuer withhold shares that would have otherwise been issued to Mr. Nelson. The 389 shares withheld had a value equal to the tax liability.
- [F4]The performance units were awarded under The Energy XXI Services, LLC 2006 Long-Term Incentive Plan.
- [F5]Time-Based Performance Units (25%) vest in equal annual installments on July 21, 2013, 2014 and 2015. The amount due the employee is equal to the grant date unit value of $5.00 plus the change in stock price over the performance period, multiplied by the number of units that vest. The initial stock price used in determining the change in stock price is $33.20 per share. Performance-Based Performance Units (75%) vest in equal annual installments on July 21, 2013, 2014 and 2015. The amount due the employee is equal to the grant date unit value of $5.00 plus the change in stock price over the performance period, multiplied by the number of units that vest. The number of units that vest is determined by the Company's Total Shareholder Return (TSR) performance measured against a TSR Unit Number Modifier, which may range from 0% to 200%. The initial stock price used in determining the change in stock price is $33.20 per share.
- [F6]Between February 9, 2012 and July 21, 2012, the reporting person acquired 568.627 shares of Energy XXI common stock under the Energy XXI 401 (k) Plan
Documents
Issuer
ENERGY XXI (BERMUDA) LTD
CIK 0001343719
Entity typeother
Related Parties
1- filerCIK 0001392263
Filing Metadata
- Form type
- 4
- Filed
- Jul 22, 8:00 PM ET
- Accepted
- Jul 23, 5:53 PM ET
- Size
- 23.5 KB