4//SEC Filing
Stratton J. Jay Jr. 4
Accession 0001714805-19-000002
CIK 0001022646other
Filed
Oct 6, 8:00 PM ET
Accepted
Oct 7, 5:01 PM ET
Size
17.6 KB
Accession
0001714805-19-000002
Insider Transaction Report
Form 4
Stratton J. Jay Jr.
Chief Operating Officer
Transactions
- Exercise of In-Money
Common Stock
2019-06-24$5.00/sh+500$2,500→ 253,116 total - Exercise of In-Money
Common Stock
2019-07-08$5.00/sh+2,000$10,000→ 255,116 total - Exercise of In-Money
Common Stock
2019-08-09$5.00/sh+500$2,500→ 255,616 total - Exercise of In-Money
Put Option (obligation to buy)
2019-06-24−5→ 2,500 total→ Common Stock (0 underlying) - Exercise of In-Money
Put Option (obligation to buy)
2019-07-08−20→ 500 total→ Common Stock (0 underlying) - Exercise of In-Money
Put Option (obligation to buy)
2019-08-09−5→ 0 total→ Common Stock (0 underlying)
Holdings
- 1,084,976
Restricted Stock Units
→ Common Stock (0 underlying)
Footnotes (5)
- [F1]The Reporting Person was party to written put contracts obligating him to buy 3,000 shares of the Company's common stock, exercisable at $5.00 per share. The holder of the put option elected to partially exercise the put option on each of June 24, 2019, July 8, 2019 and August 9, 2019 thereby obligating the Reporting Person to purchase, on a non-discretionary basis, 500 shares of the Company's common stock, 2,000 shares of the Company's common stock and 500 shares of the Company's common stock, respectively.
- [F2]Each restricted stock unit represents a contingent right to receive one common share of the Company.
- [F3]136,352 of the restricted stock units are time-based and will vest, if at all, in two equal annual installments beginning on May 25, 2020. 179,856 of the restricted stock units set forth in box 9 of this Form 4 are time-based and will vest, if at all, in three equal annual installments beginning on March 1, 2020. The time-based awards will terminate and the applicable restricted stock units will not vest if the Reporting Person is not employed by the Company on the date any portion of the award is scheduled to vest.
- [F4](Continued from Footnote 3) 768,768 of the restricted stock units are subject to both performance-based and time-based vesting terms. The performance-based vesting conditions are assessed based on the volume-weighted average price of the Company's common shares as measured over 60 consecutive trading days relative to pre-established price goals. Once a performance-based vesting condition is achieved, the restricted stock units that have become performance vested will time-vest over the two or three-year period following the date on which they became performance vested.
- [F5]The Reporting Person was party to written put contracts obligating him to buy 3,000 shares of the Company's common stock, exercisable at $5.00 per share, to the holder of the put option. As disclosed in Footnote 1, the holder of the put option exercised the put option in stages on each of June 24, 2019, July 8, 2019 and August 9, 2019, thereby obligating the Reporting Person to purchase, on a non-discretionary basis, 3,000 shares of the Company's common stock.
Documents
Issuer
ULTRA PETROLEUM CORP
CIK 0001022646
Entity typeother
Related Parties
1- filerCIK 0001714805
Filing Metadata
- Form type
- 4
- Filed
- Oct 6, 8:00 PM ET
- Accepted
- Oct 7, 5:01 PM ET
- Size
- 17.6 KB