Energy XXI Ltd 4

4 · Energy XXI Ltd · Filed Jul 25, 2016

Form 4

Period: 2016-07-21

Vice Pres, Chief Acct Officer

Transactions

Award
Performance Units
2016-07-21−117,000→ 0 total
→ Common Stock (117,000 underlying)
Award
Performance Units
2016-07-21−31,000→ 31,000 total
→ Common Stock (31,000 underlying)
Exercise/Conversion
Common Stock
2016-07-21$0.04/sh−69,121$2,765→ 13,215.526 total
Exercise/Conversion
Common Stock
2016-07-21$5.00/sh−117,000$585,000→ 13,215.526 total
Award
Restricted Stock Units
2016-07-21−38,121→ 76,243 total
→ Common Stock (38,121 underlying)
Exercise/Conversion
Common Stock
2016-07-21+186,121→ 13,215.526 total

Holdings

Footnotes (7)

[F1]Awards granted in 2014 and 2015 represent the economic equivalent of one share of the company's common stock payable in cash.
[F2]Represents the cash value of the 69,121 performance and restricted stock units vesting on July 21, 2016. Due to the company's commencement of proceedings under chapter 11 of the U.S. Bankruptcy Code, this amount cannot be paid without approval of the U.S. Bankruptcy Court, which approval is not currently being sought. However, Mr. Menown will have an unsecured claim against the company for the $2,764.84 payment.
[F3]Represents the right to a $585,000 cash payment for the 117,000 performance units vesting on July 21, 2016. Due to the company's commencement of proceedings under chapter 11 of the U.S. Bankruptcy Code, this amount cannot be paid without approval of the U.S. Bankruptcy Court, which approval is not currently being sought. However, Mr. Menown will have an unsecured claim against the company for the amount of such payment.
[F4]The performance units and restricted stock units were awarded under the Energy XXI Services, LLC 2006 Long-Term Incentive Plan to Mr. Menown.
[F5]Represents vesting of the last one-third of Mr. Menown's performance units granted on July 21, 2013 at a cash value of $5.00 per unit.
[F6]Represents vesting of the second one-third of Mr. Menown's performance units granted on July 21, 2014.
[F7]Represents vesting of the first one-third of Mr. Menown's restricted stock units granted on December 1, 2015.

Documents

1 file