Foster Micah C. 4
4 · LEGACY RESERVES LP · Filed Sep 24, 2018
Insider Transaction Report
Form 4
Foster Micah C.
CAO and Controller
Transactions
- Disposition to Issuer
Units representing limited partner interests
2018-09-20−78,437→ 0 total - Exercise/Conversion
Phantom Units
2018-09-20−54,605→ 0 total→ Units (54,605 underlying) - Exercise/Conversion
Phantom Units
2018-09-20−146,849→ 0 total→ Units (146,849 underlying) - Exercise/Conversion
Phantom Units
2018-09-20−90,481→ 0 total→ Units (90,481 underlying) - Exercise/Conversion
Units representing limited partner interests
2018-09-20+54,605→ 78,437 total - Exercise/Conversion
Units representing limited partner interests
2018-09-20+146,849→ 225,286 total - Disposition to Issuer
Units representing limited partner interests
2018-09-20$4.84/sh−146,849$710,749→ 78,437 total - Exercise/Conversion
Units representing limited partner interests
2018-09-20+90,481→ 168,918 total - Disposition to Issuer
Units representing limited partner interests
2018-09-20$4.84/sh−90,481$437,928→ 78,437 total
Footnotes (6)
- [F1]In connection with the corporate reorganization of the Issuer from a master limited partnership to a corporation (the "Corporate Reorganization"), each outstanding unit representing a limited partner interest in the Issuer ("Unit") was converted into the right to receive one share of common stock, $0.01 par value per share, of Legacy Reserves Inc. ("New Legacy Common Stock").
- [F2]Each phantom unit represents the economic equivalent of a Unit.
- [F3]These phantom unites were granted pursuant to an awards agreement that provided for settlement in Units and were scheduled to vest as follows: (i) 14,674 phantom units subject to vesting on February 18, 2019; (ii) 14,868 phantom units subject to vesting on February 18, 2020; and (iii) 25,063 phantom units subject to vesting on February 18, 2021. In connection with the Corporate Reorganization, these phantom units automatically vested in full and were settled in Units.
- [F4]These phantom units were granted pursuant to an award agreement that provided for settlement in cash and provided for cliff vesting in the third year after grant, subject to the achievement of certain performance-based criteria during the three fiscal years prior to the vesting date. The vesting schedule was as follows: 83,850 phantom units on February 18, 2019; (ii) 59,472 phantom units on February 19, 2010; and (iii) 150,376 phantom units on February 18, 2021.
- [F5]In connection with the Corporate Reorganization, 146,849 of these phantom units automatically vested in full and were settled in cash. Another 146,849 phantom unites were forfeited.
- [F6]These phantom units were granted pursuant to an award agreement that provided for settlement in cash and were scheduled to vest as follows: (i) 48,214 phantom units on February 18, 2019; (ii) 29,736 phantom units on February 18, 2020; and (iii) 12,531 phantom units on February 18, 2021. In connection with the Corporate Reorganization, these phantom units automatically vested in full and were settled in cash.