Vanguard Natural Resources, LLC 4
4 · Vanguard Natural Resources, LLC · Filed Jan 5, 2017
Insider Transaction Report
Form 4
McCullough Bruce W.
Director
Transactions
- Award
Phantom Units
2017-01-04+160,256→ 202,202 totalFrom: 2018-01-04→ Common Units representing LLC units (160,256 underlying)
Footnotes (2)
- [F1]Each phantom unit gives the holder the right to receive a common unit equal to the number of phantom units or the cash value of the vested phantom units as determined by the Compensation Committee at its discretion.
- [F2]The phantom units were granted pursuant to a Written Consent of the Compensation Committee of the Board of Directors dated December 30, 2016. Each phantom unit is equivalent in value to a common unit but is subject to a one year vesting period, ending on January 4, 2018. The phantom units are accompanied by dividend equivalent rights ("DERs"), which entitle the director to receive the value of any dividends made by the Company on its units generally with respect to the number of phantom units that director received pursuant to this grant.