SEC Form 4 · accession 0001209191-17-000446

Western Refining, Inc. · WNR

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — EVP and CFO

Period of report

Dec 30, 2016

Accepted (ET)

Jan 3, 2017 · 6:30 pm EST

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 Stock^F1	Dec 30, 2016	M	10,017	$0.00	A	11,051	D
Common Stock^F2	Dec 30, 2016	F	4,623	$0.00	D	6,428	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Phantom Stock^F5,F3,F4	—	Dec 30, 2016	M	10,017	D	—	—	Common Stock	10,017	14,709	D

F110,017 shares were issued pursuant to a phantom stock award ("Phantom Stock Award") granted to the reporting person on June 23, 2016, which were settled at the election of the Compensation Committee of WNR's Board of Directors (the "Board") in WNR common stock.
F2These shares of common stock were issuable upon vesting of the Phantom Stock Award, but were withheld to satisfy the reporting person's tax obligations.
F3These shares of phantom stock represent 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. These shares of phantom stock were issued as compensation for services as an officer of Issuer.
F4These shares of phantom stock vested on December 30, 2016.
F5This number of derivative securities include (a) 5,325 phantom stock shares that remain outstanding pursuant to a phantom stock award granted on June 23, 2016, and (b) 9,384 phantom stock shares that remain outstanding pursuant to a phantom stock award granted on June 23, 2016.