SWANTON NORMAN F 4

Accession 0001181431-10-021387

CIK 0000892986other

View on SEC.gov Company Profile

Filed

Apr 12, 8:00 PM ET

Accepted

Apr 13, 11:42 AM ET

Size

19.1 KB

Accession

0001181431-10-021387

Insider Transaction Report

Form 4

Period: 2010-04-12

WARREN RESOURCES INCWRES

SWANTON NORMAN F

DirectorChairman & CEO

Transactions

Other
Common Stock
2010-04-12−793,788→ 1,320,923 total
Other
Stock Options (Right-to-Buy)
2010-04-12−125,000→ 125,000 total
Exercise: $2.42From: 2011-03-05Exp: 2013-03-05→ Common Stock (125,000 underlying)
Other
Stock Options (Right-to-Buy)
2010-04-12−75,000→ 75,000 total
Exercise: $11.15From: 2009-03-07Exp: 2013-03-07→ Common Stock (75,000 underlying)
Other
Stock Options (Right-to-Buy)
2010-04-12−200,000→ 200,000 total
Exercise: $0.51From: 2010-03-04Exp: 2012-03-04→ Common Stock (200,000 underlying)
Other
Stock Options (Right-to-Buy)
2010-04-12−75,000→ 75,000 total
Exercise: $10.51From: 2008-03-08Exp: 2012-03-08→ Common Stock (75,000 underlying)
Other
Stock Options (Right-to-Buy)
2010-04-12−50,000→ 50,000 total
Exercise: $13.85From: 2007-03-23Exp: 2011-03-23→ Common Stock (50,000 underlying)
Other
Restricted Stock Units
2010-04-12−40,704→ 40,704 total
Exercise: $0.00From: 2010-06-10→ Common Stock (40,704 underlying)

Footnotes (3)

[F1]These shares were transferred to Mr. Swanton's ex-wife pursuant to their divorce settlement dated March 23, 2010 ("Settlement Agreement"), which was effective on April 12, 2010. Pursuant to the Settlement Agreement, Mr. Swanton will continue to have voting rights to the shares and a right of first refusal in the event of a proposed sale of such shares.
[F2]Pursuant to the divorce Settlement Agreement, Mr. Swanton also agreed that a 50% beneficial ownership interest in his restricted stock units ("RSUs") belongs to his ex-wife. Each RSU represents a contingent right to receive one (1) share of Warren Resources, Inc. common stock once vested. The RSUs vest 1/3rd on June 10, 2010; 1/3rd on September 10, 2010; and 1/3rd on December 10, 2010, and have no expiration date. Upon vesting of the RSUs, Mr. Swanton has agreed to pay his ex-wife a sum equal to the value of her share of the RSUs on the date that the vesting occurs, net of all costs, including federal and state taxes which he is required to pay as record owner of the RSU's and common stock issued upon their vesting.. Mr. Swanton will have voting rights to the issued shares of common stock upon vesting of the RSUs.
[F3]Pursuant to Mr. Swanton's divorce Settlement Agreement, he has agreed to transfer 50% of the share ownership/net proceeds after first payment of all applicable taxes and costs resulting from any exercise of stock options that has been granted to him as of March 23, 2010. Mr. Swanton will continue to have voting rights to and a right of first refusal in the event of a proposed sale of such shares.

Documents

1 file

4
rrd272638.xmlPrimary
FORM 4 - SWANTON

Issuer

WARREN RESOURCES INC

CIK 0000892986

→

Entity typeother

Related Parties

filerCIK 0001164034

Filing Metadata

Form type: 4
Filed: Apr 12, 8:00 PM ET
Accepted: Apr 13, 11:42 AM ET
Size: 19.1 KB

View on SEC.gov