4//SEC Filing
Vanguard Natural Resources, LLC 4
Accession 0001384072-17-000013
CIK 0001384072operating
Filed
Jan 4, 7:00 PM ET
Accepted
Jan 5, 4:05 PM ET
Size
7.2 KB
Accession
0001384072-17-000013
Insider Transaction Report
Form 4
Pence Britt
Vice President of Engineering
Transactions
- Award
Phantom Units
2017-01-01+2,350,746→ 2,880,524 totalFrom: 2018-01-01→ Common Units representing LLC units (2,350,746 underlying)
Footnotes (3)
- [F1]The phantom units were granted pursuant to the execution of an Amended and Restated Employment Agreement on January 1, 2016 and subject to a Phantom Unit Award Agreement. Each phantom unit represents the equivalent of one common unit of the Company. The phantom units are subject to vesting in three equal annual installments, with the first vesting date being January 1, 2018, and each subsequent vesting date occurring on each annual anniversary of the first vesting date. The vested phantom units are payable following each vesting date, in either the Company's common units or in a cash amount equal to the fair market value of the Company's common units on the vesting date.
- [F2]The phantom units are accompanied by dividend equivalent rights, which entitle the executives to receive the value of any dividends made by the Company on its units generally with respect to the number of phantom shares that executive received pursuant to this grant and are subject to vesting in two equal annual installments, 50% available for applicable monthly distributions at the grant date of January 1, 2017 and the remaining 50% available upon vesting. Vesting of both the underlying phantom units and the tandem dividend equivalent rights is generally subject to the grantee's continued employment through the applicable vesting date, with such other terms as set forth in the applicable award agreement.
- [F3]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.
Documents
Issuer
Vanguard Natural Resources, LLC
CIK 0001384072
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001384072
Filing Metadata
- Form type
- 4
- Filed
- Jan 4, 7:00 PM ET
- Accepted
- Jan 5, 4:05 PM ET
- Size
- 7.2 KB