SEC Form 4 · accession 0001209191-16-128642
Western Refining, Inc. · WNR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William D Sanders
Director
Period of report
Jun 17, 2016
Accepted (ET)
Jun 17, 2016 · 5:08 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001339048
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jun 17, 2016 | M | 21,938 | $0.00 | A | 59,797 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Share UnitsF1,F2,F3 | — | Jun 17, 2016 | M | 21,938 | D | — | — | Common Stock | 21,938 | 0 | D |
Explanation of responses
- F1On June 17, 2016, the reporting person's term as a member of WNR's Board of Directors (the "Board") ended and the reporting person was not eligible for re-election. Pursuant to deferral elections made by the reporting person, all shares underlying restricted share units ("RSU") subject to such deferrals will be delivered to the reporting person promptly following June 17, 2016, the date on which the reporting person's term ended.
- F2Each RSU represents a contingent right to receive one share of WNR common stock or, at the election of the Compensation Committee of the Board, the cash value thereof. The RSUs were issued as compensation for services as a director.
- F3Due to deferral elections made by the reporting person, the vested shares underlying the RSUs will be delivered to the reporting person promptly following June 17, 2016, the date on which the reporting person's term ended.