Roberts Stephen Phillip 4
4 · Gastar Exploration Inc. · Filed Feb 1, 2018
Insider Transaction Report
Form 4
Roberts Stephen Phillip
Senior VP & COO
Transactions
- Award
Common Stock
2018-01-30+191,406→ 1,691,406 total - Award
2018 Perforamance Based Units
2018-01-30+191,406→ 191,406 totalExercise: $0.00Exp: 2021-01-30→ Common Stock (191,406 underlying)
Footnotes (4)
- [F1]The reported shares were acquired pursuant to a restricted share grant and will vest in three equal annual installments beginning on January 30, 2019.
- [F2]Includes 1,500,000 shares acquired on various dates pursuant to previously reported restricted share grants that will vest subject to previously disclosed vesting schedules.
- [F3]These PBUs vest in their entirety at the end of the three-year performance period with settlement in common stock between 0% and 200% (**subject to limitations discussed in Footnote 4 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 PBUs have no voting rights but provide for dividend equivalents to be paid upon vesting.
- [F4]The number of PBUs reported (191,406) represents the target award. As such, the number of shares that may be issued upon vesting ranges from 0 shares to 382,812 shares. **As discussed in Footnote 3 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.