MCCONNELL JAMES M 4

4 · WARREN RESOURCES INC · Filed Mar 8, 2011

Form 4

Period: 2011-03-04

Director

Transactions

Exercise/Conversion
Common Stock
2011-03-07$4.32/sh+619$2,674→ 11,857 total
Award
Stock Options (Right to buy)
2011-03-04+7,500→ 7,500 total
Exercise: $4.22From: 2012-03-04Exp: 2016-03-04→ Common Stock (7,500 underlying)
Award
Restricted Stock Units
2011-03-04+3,975→ 3,975 total
Exercise: $0.00From: 2012-03-04→ Common Stock (3,975 underlying)
Disposition to Issuer
Restricted Stock Units
2011-03-07$4.32/sh−619$2,674→ 0 total
Exercise: $0.00From: 2011-03-07→ Common Stock (619 underlying)

Footnotes (3)

[F1]The Stock Options vest and become exercisable as follows: 1/3rd after one year from grant, 1/3rd after two years and 1/3rd after three years.
[F2]On March 4, 2011, Reporting Person was issued restricted stock units (RSUs). Each RSU represented a contingent right to one (1) share of Warren Resources, Inc. common stock once vested. The RSUs granted on March 4, 2011 vest: 1/3rd on March 4, 2012, 1/3rd on March 4, 2013 and 1/3rd on March 4, 2014.
[F3]On March 7, 2008, Reporting Person was issued restricted stock units (RSUs). Each RSU represented a contingent right to one (1) share of Warren Resources, Inc. common stock once vested. The RSUs granted on March 7, 2008 vested: 1/3rd on March 7, 2009, 1/3rd on March 7, 2010 and 1/3rd on March 7, 2011.

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