4//SEC Filing
Gastar Exploration Inc. 4
Accession 0001209191-17-006876
CIK 0001431372operating
Filed
Jan 31, 7:00 PM ET
Accepted
Feb 1, 7:23 PM ET
Size
16.5 KB
Accession
0001209191-17-006876
Insider Transaction Report
Form 4
Gerlich Michael A
Secretary and Treasurer
Transactions
- Award
Restricted Stock Units
2017-01-30+171,310→ 171,310 totalExercise: $0.00Exp: 2020-01-30→ Common Stock (171,310 underlying) - Tax Payment
Common Stock
2017-01-30$1.66/sh−53,975$89,599→ 1,134,733 total - Other
2014 Performance Based Units
2017-01-30−17,528→ 0 totalExercise: $0.00Exp: 2017-01-30→ Common Stock (17,528 underlying) - Award
Performance Based Rights Units
2017-01-30+171,310→ 171,310 totalExercise: $0.00Exp: 2020-01-30→ Common Stock (171,310 underlying)
Holdings
- 135,417
2015 Performance Based Units
Exercise: $0.00Exp: 2018-01-30→ Common Stock (135,417 underlying) - 191,176
2016 Performance Based Units
Exercise: $0.00Exp: 2019-01-30→ Common Stock (191,176 underlying)
Footnotes (8)
- [F1]Shares forfeited to meet tax obligation of restricted share vesting.
- [F2]Includes 172,592 shares acquired on various dates pursuant to previously reported restricted share grants that will vest subject to previously disclosed vesting schedules.
- [F3]These PBUs vested and forfeited as a result of the 2014 PBU award settling at 0% of the target award based on Gastar's share price depreciation over the performance period.
- [F4]These performance based units ("PBUs") vest ratably over a three-year performance period as previously reported.
- [F5]These PBUs vest in their entirety at the end of a three-year performance period as previously reported.
- [F6]These restricted stock units were granted in place of restricted common stock. At an undetermined date in the future, these restricted stock units, at the approval of the shareholders of additional shares to the Long-Term Incentive Plan, will be converted to restricted common stock that will vest in three equal annual installments beginning on January 30, 2018.
- [F7]These performance based rights units were granted in place of performance based units. At an undetermined date in the future, these performance based rights units, at the approval of the shareholders of additional shares to the Long-Term Incentive Plan, will be converted to performance based units that will vest in their entirety at the end of a three-year performance period with settlement in common stock between 0% and 200% (subject to limitations discussed below) of the target award based on Gastar's share price appreciation over a three-year performance period relative to a peer index. Share price appreciation is measured generally as the change in market value of common stock during the performance period. The performance based rights units have no voting rights.Should shareholder approval not occur, the Company will be obligated to settle the performance based rights units in cash at an amount equal to the fair value of a common share at vesting.
- [F8]The number of performance based rights units reported (171,310) represents the target award for performance based units. As such, the number of shares that may be issued upon vesting ranges from 0 shares to 342,620 shares. **As discussed above, at the end of the performance period, the participant may earn up to 200% of the target award, subject to a maximum award limitation of one million (1,000,000) shares that may be issued to any individual in a calendar year under the Gastar Exploration Inc. Long-Term Incentive Plan.
Documents
Issuer
Gastar Exploration Inc.
CIK 0001431372
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001431372
Filing Metadata
- Form type
- 4
- Filed
- Jan 31, 7:00 PM ET
- Accepted
- Feb 1, 7:23 PM ET
- Size
- 16.5 KB