SEC Form 4 · accession 0000899243-19-007377
ULTRA PETROLEUM CORP · UPL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
A Kent Rogers
Officer — V.P., Drilling & Completions
Period of report
Mar 12, 2019
Accepted (ET)
Mar 12, 2019 · 8:17 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001022646
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 62,365 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Mar 12, 2019 | J | 163,360 | D | — | — | Common Stock | 163,360 | 0 | D |
| Restricted Stock UnitsF3,F4 | — | Mar 12, 2019 | A | 163,622 | A | — | — | Common Stock | 163,622 | 163,622 | D |
| Restricted Stock UnitsF3,F5 | — | Mar 12, 2019 | A | 327,244 | A | — | — | Common Stock | 327,244 | 490,866 | D |
| Restricted Stock UnitsF3,F6 | — | Mar 12, 2019 | A | 89,928 | A | — | — | Common Stock | 89,928 | 580,794 | D |
| Restricted Stock UnitsF3,F5 | — | Mar 12, 2019 | A | 179,856 | A | — | — | Common Stock | 179,856 | 760,650 | D |
Explanation of responses
- F1Forfeited 163,360 derivative restricted stock units, resulting in no outstanding derivative securities.
- F2Derivative restricted stock units were forfeited; therefore, shares will not vest and are expired.
- F3Each restricted stock unit represents a contingent right to receive one share of common stock of the Company.
- F4The restricted stock units are time-based and will vest, if at all, in three equal annual installments beginning on May 25, 2019. The award will terminate and the applicable restricted stock units will not vest if the Reporting Person is not employed by the Reporting Person on the date any portion of the award is scheduled to vest.
- F5The 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.
- F6The restricted stock units are time-based and will vest, if at all, in three equal annual installments beginning on March 1, 2020. The award will terminate and the applicable restricted stock units will not vest if the Reporting Person is not employed by the Reporting Person on the date any portion of the award is scheduled to vest.