4//SEC Filing
ENERGY XXI (BERMUDA) LTD 4
Accession 0001140361-13-028650
CIK 0001343719operating
Filed
Jul 22, 8:00 PM ET
Accepted
Jul 23, 3:23 PM ET
Size
25.6 KB
Accession
0001140361-13-028650
Insider Transaction Report
Form 4
Marchive Ben
Senior Vice-President, Oper.
Transactions
- Other
Common Stock
2013-07-21−780→ 124,926 total - Other
Common Stock
2013-07-21+14,004→ 129,610 total - Other
Common Stock
2013-07-21+2,396→ 127,322 total - Award
Performance Units
2013-07-21+435,000→ 435,000 total→ Common Stock (435,000 underlying) - Other
Common Stock
2013-07-21−5,790→ 123,820 total - Other
Common Stock
2013-07-21+1,886→ 125,706 total - Other
Common Stock
2013-07-21−991→ 126,331 total - Other
Performance Units
2013-07-21−50,000→ 0 total→ Common Stock (50,000 underlying) - Other
Performance Units
2013-07-21−84,000→ 84,000 total→ Common Stock (84,000 underlying) - Other
Performance Units
2013-07-21−106,667→ 213,333 total→ Common Stock (106,667 underlying)
Holdings
- 123,000(indirect: By Trust)
Common Stock
- 6,895.364(indirect: By 401(k))
Common Stock
- 42,460(indirect: By Energy XXI Deferred Compensation Plan)
Common Stock
- 27,740(indirect: By IRA)
Common Stock
Footnotes (6)
- [F1]Represents vesting of the last one-third of Mr. Marchive's performance units granted on July 21, 2010. Mr. Marchive 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. Marchive. The 5,790 shares withheld had a value equal to the tax liability.
- [F2]Represents vesting of the second one-third of Mr. Marchive's performance units granted on July 21, 2011. Mr. Marchive 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. Marchive. The 780 shares withheld had a value equal to the tax liability.
- [F3]Represents vesting of the first one-third of Mr. Marchive's performance units granted on July 21, 2012. Mr. Marchive 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. Marchive. The 991 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, 2014, 2015 and 2016. 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 $24.50 per share. Performance-Based Performance Units (75%) vest in equal annual installments on July 21, 2014, 2015 and 2016. 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 $24.50 per share.
- [F6]Between July 1, 2013 and July 22, 2013, the reporting person acquired 264.919 shares of Energy XXI common stock under the Energy XXI 401 (k) Plan
Documents
Issuer
ENERGY XXI (BERMUDA) LTD
CIK 0001343719
Entity typeoperating
IncorporatedBermuda
Related Parties
1- filerCIK 0001343719
Filing Metadata
- Form type
- 4
- Filed
- Jul 22, 8:00 PM ET
- Accepted
- Jul 23, 3:23 PM ET
- Size
- 25.6 KB