Western Refining, Inc. 4
4 · Western Refining, Inc. · Filed Jun 17, 2016
Insider Transaction Report
Form 4
Sanders William D
Director
Transactions
- Exercise/Conversion
Common Stock
2016-06-17+21,938→ 59,797 total - Exercise/Conversion
Restricted Share Units
2016-06-17−21,938→ 0 total→ Common Stock (21,938 underlying)
Footnotes (3)
- [F1]On June 17, 2016, the reporting person's term as a member of WNR's Board of Directors (the "Board") ended and the reporting person was not eligible for re-election. Pursuant to deferral elections made by the reporting person, all shares underlying restricted share units ("RSU") subject to such deferrals will be delivered to the reporting person promptly following June 17, 2016, the date on which the reporting person's term ended.
- [F2]Each RSU represents a contingent right to receive one share of WNR common stock or, at the election of the Compensation Committee of the Board, the cash value thereof. The RSUs were issued as compensation for services as a director.
- [F3]Due to deferral elections made by the reporting person, the vested shares underlying the RSUs will be delivered to the reporting person promptly following June 17, 2016, the date on which the reporting person's term ended.