4//SEC Filing
Porter J Russell 4
Accession 0001209191-18-006390
CIK 0001431372other
Filed
Jan 31, 7:00 PM ET
Accepted
Feb 1, 12:14 PM ET
Size
16.7 KB
Accession
0001209191-18-006390
Insider Transaction Report
Form 4
Porter J Russell
DirectorPresident
Transactions
- Award
2018 Performance Based Units
2018-01-30+386,719→ 386,719 totalExercise: $0.00Exp: 2021-01-30→ Common Stock (386,719 underlying) - Award
Common Stock
2018-01-30+386,719→ 5,094,110 total - Tax Payment
Common Stock
2018-01-30$1.12/sh−142,207$159,272→ 4,707,391 total - Other
2015 Performance Based Units
2018-01-30−286,458→ 0 totalExercise: $0.00Exp: 2018-01-30→ Common Stock (286,458 underlying)
Holdings
- 150,000(indirect: By Trust)
Common Stock
- 372,741
2017 Performance Based Units
Exercise: $0.00Exp: 2020-01-30→ Common Stock (372,741 underlying) - 404,412
2016 Performance Based Units
Exercise: $0.00Exp: 2019-01-30→ Common Stock (404,412 underlying)
Footnotes (8)
- [F1]Shares forfeited to meet tax obligation of restricted share vesting.
- [F2]Includes 2,583,300 shares acquired on various dates pursuant to previously reported restricted share grants that will vest subject to previously disclosed vesting schedules.
- [F3]The reported shares were acquired pursuant to a restricted share grant and will vest in three equal annual installments beginning on January 30, 2019.
- [F4]On July 10, 2014, the reporting person gifted 150,000 shares to his children in trusts for which the reporting person acts as the trustee as follows: The James Breckenridge Porter Trust of 2014 - 37,500 shares, The Grant Anderson Porter Trust of 2014 - 37,500 shares, The Addison Ann Porter Trust of 2014 - 37,500 shares and The Lily Madeline Porter Trust of 2014 - 37,500 shares. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for the purposes of Section 16 or for any other purpose.
- [F5]These PBUs vested and forfeited as a result of the 2015 PBU award settling at 0% of the target award based on Gastar's share price depreciation over the performance period.
- [F6]These PBUs vest in their entirety at the end of a three-year performance period as previously reported.
- [F7]These PBUs vest in their entirety at the end of the three-year performance period with settlement in common stock between 0% and 200% (**subject to limitations discussed in Footnote 8 below) of the target award based on Gastar's share price appreciation over a three-year performance period relative to a peer index. Share price appreciation is measured generally as the change in market value of common stock during the performance period. The PBUs have no voting rights but provide for dividend equivalents to be paid upon vesting.
- [F8]The number of PBUs reported (386,719) represents the target award. As such, the number of shares that may be issued upon vesting ranges from 0 shares to 773,438 shares. **As discussed in Footnote 7 above, at the end of the performance period, the participant may earn up to 200% of the target award, subject to a maximum award limitation of one million (1,000,000) shares that may be issued to any individual in a calendar year under the Gastar Exploration Inc. Long-Term Incentive Plan.
Documents
Issuer
Gastar Exploration Inc.
CIK 0001431372
Entity typeother
Related Parties
1- filerCIK 0001348372
Filing Metadata
- Form type
- 4
- Filed
- Jan 31, 7:00 PM ET
- Accepted
- Feb 1, 12:14 PM ET
- Size
- 16.7 KB