PARALLEL PETROLEUM CORP 4
4 · PARALLEL PETROLEUM CORP · Filed May 19, 2008
Insider Transaction Report
Form 4
OLDHAM LARRY
DirectorCEO and President
Transactions
- Sale
Common Stock, $.01 par value
2008-05-15$21.52/sh−85,000$1,829,497→ 233,590 total
Holdings
- 37,500
Employee Stock Option (right to buy)
Exercise: $4.97From: 2002-01-05Exp: 2011-06-20→ Common Stock (37,500 underlying) - 400,000(indirect: By Spouse)
Common Stock, $.01 par value
Footnotes (2)
- [F1]Such shares are held by Oldham Properties, Ltd., a limited partnership. The general partner of Oldham Properties, Ltd. is Oldham, LLC, a limited liability company solely owned by the reporting person's spouse. The reporting person's spouse and two children are the sole limited partners. The reporting person disclaims beneficial ownership of the issuer's common stock held by his spouse through Oldham Properties, Ltd., except to the extent of his pecuniary interest therein.
- [F2]In a private transaction pursuant to an agreement dated May 15, 2008, the reporting person assigned such shares to a third party in payment and extinguishment of personal indebtedness owed by the reporting person to such third party.