SEC Form 4 · accession 0001209191-16-130116
Western Refining, Inc. · WNR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sigmund L Cornelius
Director
Period of report
Jun 27, 2016
Accepted (ET)
Jun 29, 2016 · 6:06 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 27, 2016 | M | 3,424 | $0.00 | A | 25,256 | 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 UnitsF2,F3 | — | Jun 27, 2016 | M | 3,424 | D | — | — | Common Stock | 3,424 | 0 | D |
| Restricted Share UnitsF2,F4 | — | Jun 27, 2016 | A | 8,183 | A | — | — | Common Stock | 8,183 | 8,183 | D |
Explanation of responses
- F1These shares were issued pursuant to a restricted share unit ("RSU") award granted to the reporting person on June 25, 2015 (the "2015 RSU Award"), as compensation for services as a director settled, at the election of the Compensation Committee of WNR's Board of Directors, in WNR common stock.
- F2Each RSU represents a contingent right to receive one share of WNR common stock or, at the election of the Compensation Committee of WNR's Board of Directors, the cash value thereof. The RSUs were issued as compensation for services as a director.
- F3The 2015 RSU Award vested on June 27, 2016, and at the election of the Compensation Committee of WNR's Board of Directors, was settled in WNR common stock.
- F4The RSUs are scheduled to vest on June 27, 2017. The vested shares underlying the RSUs, or the value thereof, will be delivered to the reporting person on or promptly following the vesting date applicable thereto, but not later than December 31 of the year in which such vesting date occurs.