Western Refining, Inc. 4
4 · Western Refining, Inc. · Filed Jun 29, 2016
Insider Transaction Report
Form 4
CORNELIUS SIGMUND L
Director
Transactions
- Exercise/Conversion
Common Stock
2016-06-27+3,424→ 25,256 total - Award
Restricted Share Units
2016-06-27+8,183→ 8,183 total→ Common Stock (8,183 underlying) - Exercise/Conversion
Restricted Share Units
2016-06-27−3,424→ 0 total→ Common Stock (3,424 underlying)
Footnotes (4)
- [F1]These shares were issued pursuant to a restricted share unit ("RSU") award granted to the reporting person on June 25, 2015 (the "2015 RSU Award"), as compensation for services as a director settled, at the election of the Compensation Committee of WNR's Board of Directors, in WNR common stock.
- [F2]Each 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.
- [F3]The 2015 RSU Award vested on June 27, 2016, and at the election of the Compensation Committee of WNR's Board of Directors, was settled in WNR common stock.
- [F4]The RSUs are scheduled to vest on June 27, 2017. The vested shares underlying the RSUs, or the value thereof, will be delivered to the reporting person on or promptly following the vesting date applicable thereto, but not later than December 31 of the year in which such vesting date occurs.