Vanguard Natural Resources, LLC 4
4 · Vanguard Natural Resources, LLC · Filed May 18, 2017
Insider Transaction Report
Form 4
Pence Britt
Vice President of Engineering
Transactions
- Conversion
Common Units representing LLC units
2017-05-18+13,000→ 213,690 total - Disposition to Issuer
Phantom Units
2017-05-18−13,000→ 2,695,264 totalExercise: $0.00From: 2017-05-18Exp: 2017-05-18→ Common Units representing LLC units (13,000 underlying) - Tax Payment
Common Units representing LLC units
2017-05-18$0.05/sh−3,556$178→ 210,134 total
Footnotes (2)
- [F1]The phantom units were granted pursuant to the execution of a Second Amended and Restated Employment Agreement on February 8, 2010 and subject to a Phantom Unit Award Agreement. Each phantomunit represents the equivalent of one common unit of the Company. The phantom units are subject to vesting in five equal annual installments, with the first vesting date being May 18, 2013, and each subsequentvesting 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 tothe fair market value of the Company's common units on the vesting date.
- [F2]The phantom units, once vested, shall be settled through the delivery of a number of Common Units equal to the number of such Vested Units, or an amount of cash equal to the Fair Market Value of a Common Unit on the Vesting Date to be paid in a single lump sum payment, as determined by the Comp Committee in its discretion.