Western Refining, Inc. 4
4 · Western Refining, Inc. · Filed Jun 6, 2013
Insider Transaction Report
Form 4
Sanders William D
Director
Transactions
- Award
Restricted Share Units
2013-06-04+4,704→ 14,613 total→ Common Stock (4,704 underlying)
Footnotes (3)
- [F1]Each restricted share unit ("RSU") represents a contingent right to receive one share of WNR common stock or, at the election of the Compensation Committee of WNR's Board of Directors, the cash value thereof. The RSUs were issued as compensation for services as a director.
- [F2]The RSUs vest on June 25, 2014. Due to a deferral made by the reporting person, the vested shares underlying the RSUs, or the value thereof, will be delivered to the reporting person on or promptly following the date on which the reporting person ceases to be a director of WNR, or on an earlier date as may be provided under the terms of the deferral.
- [F3]This number of derivative securities, awarded as compensation for services as a director, includes (a) 2,048 RSUs awarded on September 27, 2011, (b) 1,361 RSUs awarded on December 27, 2011, (c) 1,426 RSUs awarded on March 27, 2012, each of which vested one year follwoing the date received. This number also includes 5,074 RSUs awarded on June 8, 2012, which vest on June 8, 2013. In each case, such RSUs are subject to a deferral election made by the reporting person.