4//SEC Filing
MAGELLAN PETROLEUM CORP /DE/ 4
Accession 0001181431-13-054314
CIK 0000061398operating
Filed
Oct 16, 8:00 PM ET
Accepted
Oct 17, 6:45 PM ET
Size
9.3 KB
Accession
0001181431-13-054314
Insider Transaction Report
Form 4
Brannum C Mark
VP General Counsel & Secretary
Transactions
- Award
Employee Stock Option (right to buy)
2013-10-15+412,500→ 412,500 totalExercise: $1.03Exp: 2023-10-15→ Common Stock (412,500 underlying) - Award
Employee Stock Option (right to buy)
2013-10-15+412,500→ 412,500 totalExercise: $1.03Exp: 2023-10-15→ Common Stock (412,500 underlying)
Footnotes (3)
- [F1]The target stock price options become exercisable, subject to ongoing employment, if, at the end of any period of 90 trading days (a "Window"), (A) the closing price of one share of the Company's common stock as reported by NASDAQ (the "Closing Price") on each of the first ten (10) trading days of a Window equals or exceeds $2.35 per share, and (B) the median of the Closing Price for the Company's common stock during such Window is equal to or exceeds $2.35 per share.
- [F2]The operational performance goal options awarded on October 15, 2013 cover 412,500 shares of common stock and become exercisable upon the Company achieving certain operational performance goals as follows: (A) 10% (41,250 shares) shall vest and become exercisable upon completion of the drilling of the Company's CO2-EOR pilot program; (B) 40% (165,000 shares) shall vest and become exercisable upon a determination by the Board of Directors of the Company (the "Board") that the CO2-EOR pilot program proves the economically-attractive scalability to the Company of a phased, full-field CO2-EOR project at Poplar; (C) 20% (82,500 shares) shall vest and become exercisable upon the sale of substantially all Amadeus Basin assets at Board approved prices and terms, or commencement of sales under the Dingo GSPA; (continued in footnote 3)
- [F3](D) 20% (82,500 shares) shall vest and become exercisable upon the ability to participate in the drilling of at least one well in the Weald Basin along with Celtique Energie with internally developed funding (i.e., proceeds of a sale of assets) or an approved farm-out; and (E) 10% (41,250 shares) shall vest and become exercisable upon approval and execution of a farm-out agreement for the drilling of at least one well in NT/P82. The foregoing performance goals relate to planned or possible drilling, development, production, and other potential strategic monetization transactions that are subject to future Board determinations.
Documents
Issuer
MAGELLAN PETROLEUM CORP /DE/
CIK 0000061398
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0000061398
Filing Metadata
- Form type
- 4
- Filed
- Oct 16, 8:00 PM ET
- Accepted
- Oct 17, 6:45 PM ET
- Size
- 9.3 KB