SWANTON NORMAN F 4
4 · WARREN RESOURCES INC · Filed May 11, 2010
Insider Transaction Report
Form 4
SWANTON NORMAN F
DirectorChairman & CEO
Transactions
- Exercise/Conversion
Common Stock
2010-05-10$0.51/sh+133,334$68,000→ 1,387,590 total - Exercise/Conversion
Stock Options (Right-to-buy)
2010-05-10−133,334→ 133,333 totalExercise: $7.00From: 2010-03-04Exp: 2012-03-04→ Common Stock (133,334 underlying)
Footnotes (3)
- [F1]Pursuant to Mr. Swanton's divorce settlement with his ex-wife dated March 23, 2010 ("Settlement Agreement"), which was effective on April 12, 2010, he 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 had been granted to him as of March 23, 2010. Mr. Swanton will continue to have voting rights to and a right of first refusal to purchase the shares in the event of a proposed sale of such shares received by his ex-wife from the exercise of the stock options.
- [F2]Excludes any shares of common stock beneficially owned by Mr. Swanton's ex-wife.
- [F3]Excludes 133,333 of unvested stock options beneficially owned by Mr. Swanton's ex-wife pursuant to their divorce Settlement Agreement.