4//SEC Filing
Brock Tom L 4
Accession 0001655020-21-000090
CIK 0001655020other
Filed
Jan 21, 7:00 PM ET
Accepted
Jan 22, 7:57 PM ET
Size
17.2 KB
Accession
0001655020-21-000090
Insider Transaction Report
Form 4
Brock Tom L
VP, Chief Accounting Officer
Transactions
- Disposition to Issuer
COMMON STOCK
2021-01-20−147,924→ 0 total - Award
COMMON STOCK
2021-01-20+194→ 194 total - Award
Warrants A (Right to Buy)
2021-01-20+1,571→ 1,571 totalExercise: $107.64Exp: 2025-01-20→ COMMON STOCK (1,571 underlying) - Award
Warrants B (Right to Buy)
2021-01-20+786→ 786 totalExercise: $122.32Exp: 2026-01-20→ COMMON STOCK (786 underlying) - Award
COMMON STOCK
2021-01-20+12,750→ 12,944 total - Award
Performance Stock Unit
2021-01-20+38,250→ 38,250 total→ COMMON STOCK (38,250 underlying)
Footnotes (7)
- [F1]On June 14, 2021, Extraction Oil & Gas, Inc., a Delaware 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 District of Delaware (the "Bankruptcy Court"). On December 23, 2020, the Bankruptcy Court entered an order confirming the Sixth Amended Joint Plan of Reorganization of Extraction Oil & Gas, Inc. and its Debtor Affiliates (as amended, modified or supplemented from time to time, the "Plan"). On January 20, 2021 (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 unvested restricted stock units held by the Reporting Person 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 0.00131007 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]The Reporting Person was granted an award of 12,750 unvested restricted stock units ("New RSUs"). The New RSUs vest ratably over three years on each of the three anniversaries following the date of grant, subject to continued service through each vesting date, and will be settled in shares of New Common Stock.
- [F5]On the Effective Date, the Reporting Person also received Tranche 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 0.010620028 of a Tranche A Warrant for each share of Old Common Stock. The Tranche 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 Tranche A Warrants was involuntary, without additional consideration and in accordance with the Plan approved by the Bankruptcy Court.
- [F6]On the Effective Date, the Reporting Person also received Tranche 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 0.005310014 of a Tranche B Warrant for each share of Old Common Stock. The Tranche 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 Tranche B Warrants was involuntary, without additional consideration and in accordance with the Plan approved by the Bankruptcy Court.
- [F7]Each Performance Stock Unit represents a contingent right to receive one share of New Common Stock. The Performance Stock Units will vest upon the achievement by the Issuer of certain goals pertaining to absolute total stockholder return, subject to continued service through the third anniversary of the grant date.
Documents
Issuer
Extraction Oil & Gas, Inc.
CIK 0001655020
Entity typeother
Related Parties
1- filerCIK 0001589561
Filing Metadata
- Form type
- 4
- Filed
- Jan 21, 7:00 PM ET
- Accepted
- Jan 22, 7:57 PM ET
- Size
- 17.2 KB