4//SEC Filing
Energy XXI Ltd 4
Accession 0001144204-16-114319
CIK 0001343719operating
Filed
Jul 24, 8:00 PM ET
Accepted
Jul 25, 5:12 PM ET
Size
17.5 KB
Accession
0001144204-16-114319
Insider Transaction Report
Form 4
Energy XXI LtdEXXIQ
SCHILLER JOHN D JR
DirectorChairman and CEO
Transactions
- Exercise/Conversion
Common Stock
2016-07-21+680,269→ 1,102,205 total - Exercise/Conversion
Common Stock
2016-07-21$0.04/sh−232,769$9,311→ 1,102,205 total - Award
Restricted Stock Units
2016-07-21−122,436→ 244,873 total→ Common Stock (122,436 underlying) - Award
Performance Units
2016-07-21−110,333→ 110,334 total→ Common Stock (110,333 underlying) - Award
Performance Units
2016-07-21−447,500→ 0 total→ Common Stock (447,500 underlying) - Exercise/Conversion
Common Stock
2016-07-21$5.00/sh−447,500$2,237,500→ 1,102,205 total
Holdings
- 57,618.869(indirect: By 401(k))
Common Stock
- 96,000(indirect: By Energy XXI Deferred Compensation Plan)
Common Stock
Footnotes (8)
- [F1]Awards granted in 2014 and 2015 represent the economic equivalent of one share of the company's common stock payable in cash.
- [F2]Between December 1, 2015 and May 4, 2016, Mr. Schiller acquired 5,804.508 shares of Energy XXI common stock under the Energy XXI 401(K) Plan.
- [F3]Represents the cash value of the 232,769 performance and restricted stock units vesting on July 21, 2016. Due to the company's commencement of proceedings under chapter 11 of the U.S. Bankruptcy Code, this amount cannot be paid without approval of the U.S. Bankruptcy Court, which approval is not currently being sought. However, Mr. Schiller will have an unsecured claim against the company for the $9,310.76 payment.
- [F4]Represents the right to a $2,237,500 cash payment for the 447,500 performance units vesting on July 21, 2016. Due to the company's commencement of proceedings under chapter 11 of the U.S. Bankruptcy Code, this amount cannot be paid without approval of the U.S. Bankruptcy Court, which approval is not currently being sought. However, Mr. Schiller will have an unsecured claim against the company for the amount of such payment.
- [F5]The performance units and restricted stock units were awarded under the Energy XXI Services, LLC 2006 Long-Term Incentive Plan to Mr. Schiller.
- [F6]Represents vesting of the last one-third of Mr. Schiller's performance units granted on July 21, 2013 at a cash value of $5.00 per unit.
- [F7]Represents vesting of the second one-third of Mr. Schiller's performance units granted on July 21, 2014.
- [F8]Represents vesting of the first one-third of Mr. Schiller's restricted stock units granted on December 1, 2015.
Documents
Issuer
Energy XXI Ltd
CIK 0001343719
Entity typeoperating
IncorporatedBermuda
Related Parties
1- filerCIK 0001343719
Filing Metadata
- Form type
- 4
- Filed
- Jul 24, 8:00 PM ET
- Accepted
- Jul 25, 5:12 PM ET
- Size
- 17.5 KB