4//SEC Filing
DEBOER BRUCE R 4
Accession 0001562180-20-005820
CIK 0001255474other
Filed
Sep 2, 8:00 PM ET
Accepted
Sep 3, 12:31 PM ET
Size
14.2 KB
Accession
0001562180-20-005820
Insider Transaction Report
Form 4
DEBOER BRUCE R
Vice President and Secretary
Transactions
- Disposition to Issuer
Common Stock
2020-09-01−41,263→ 0 total - Award
Common Stock
2020-09-01+948→ 948 total - Award
Warrants (Right to buy)
2020-09-01+1,859→ 1,859 totalExercise: $83.45Exp: 2025-09-01→ Common Stock (1,859 underlying) - Award
Warrants (Right to buy)
2020-09-01+3,716→ 3,716 totalExercise: $73.44Exp: 2024-09-01→ Common Stock (3,716 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 States 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"), unexercised options to purchase such Old Common Stock and all unvested restricted stock units and performance shares with respect to such Old Common Stock were cancelled and extinguished in accordance with the Plan approved by the Bankruptcy Court. The Reporting Person Owned 732 unexercised stock options, 21,749 previously reported unvested restricted stock units and 7,956 unvested performance shares.
- [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 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.
- [F5]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.
Documents
Issuer
WHITING PETROLEUM CORP
CIK 0001255474
Entity typeother
Related Parties
1- filerCIK 0001219956
Filing Metadata
- Form type
- 4
- Filed
- Sep 2, 8:00 PM ET
- Accepted
- Sep 3, 12:31 PM ET
- Size
- 14.2 KB