4//SEC Filing
Hutchinson Michael G 4
Accession 0001562180-20-005814
CIK 0001255474other
Filed
Sep 2, 8:00 PM ET
Accepted
Sep 3, 12:27 PM ET
Size
17.3 KB
Accession
0001562180-20-005814
Insider Transaction Report
Form 4
Hutchinson Michael G
Director
Transactions
- Disposition to Issuer
Common Stock
2020-09-01−10,765→ 0 total - Award
Warrants (Right to Buy)
2020-09-01+282→ 282 totalExercise: $83.45Exp: 2025-09-01→ Common Stock (282 underlying) - Award
Common Stock
2020-09-01+144→ 144 total - Award
Warrants (Right to buy)
2020-09-01+563→ 563 totalExercise: $73.44Exp: 2024-09-01→ Common Stock (563 underlying)
Footnotes (5)
- [F1]On April 1, 2020, Whiting Petroleum Corporation (the "Issuer") and certain of its subsidiaries (together with the Issuer, the "Company") commenced voluntary cases under chapter 11 of the United States Bankruptcy Code in the United State Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"). On August 14, 2020, the Bankruptcy Court entered an order confirming the Joint Chapter 11 Plan of Reorganization of Whiting Petroleum Corporation and its Debtor Affiliates (as amended, modified or supplemented from time to time, the "Plan"). On September 1, 2020 (the "Effective Date"), the Plan became effective in accordance with its terms and the Company emerged from chapter 11.
- [F2]On the Effective Date, all outstanding shares of the Issuer's common stock ("Old Common Stock") were cancelled and extinguished in accordance with the Plan approved by the Bankruptcy Court.
- [F3]On the Effective Date, new shares of the Issuer's common stock ("New Common Stock") were issued to the Reporting Person pursuant to the Plan in exchange for Old Common Stock held by the Reporting Person on the Effective Date at an effective exchange ratio of 0.0133557960 of a share of New Common Stock for each share of Old Common Stock. The receipt of shares of New Common Stock was involuntary, without additional consideration and in accordance with the Plan approved by the Bankruptcy Court.
- [F4]On the Effective Date, the Reporting Person also received Series B Warrants to purchase shares of New Common Stock in exchange for Old Common Stock held by the Reporting Person on the Effective Date at an effective exchange ratio of 0.0261878353 of a Series B Warrant for each share of Old Common Stock. The Series B Warrants are exercisable for one share of New Common Stock from the date of issuance until 5:00 p.m., New York time, on the expiration date. The receipt of Series B Warrants was involuntary, without additional consideration and in accordance with the Plan approved by the Bankruptcy Court.
- [F5]On the Effective Date, the Reporting Person also received Series A Warrants to purchase shares of New Common Stock in exchange for Old Common Stock held by the Reporting Person on the Effective Date at an effective exchange ratio of 0.0523756707 of a Series A Warrant for each share of Old Common Stock. The Series A Warrants are exercisable for one share of New Common Stock from the date of issuance until 5:00 p.m., New York time, on the expiration date. The receipt of Series A Warrants was involuntary, without additional consideration and in accordance with the Plan approved by the Bankruptcy Court.
Issuer
WHITING PETROLEUM CORP
CIK 0001255474
Entity typeother
Related Parties
1- filerCIK 0001555428
Filing Metadata
- Form type
- 4
- Filed
- Sep 2, 8:00 PM ET
- Accepted
- Sep 3, 12:27 PM ET
- Size
- 17.3 KB