SEC Form 4 · accession 0001209191-17-004865
Western Refining, Inc. · WNR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lowry Barfield
Officer — EVP, Gen Counsel & Sec
Period of report
Jan 18, 2017
Accepted (ET)
Jan 20, 2017 · 4:32 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001339048
Table I — non-derivative securities
No Table I lines on this filing.
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,F4,F1,F3 | — | Jan 18, 2017 | A | 11,507 | A | — | — | Common Stock | 11,507 | 79,319 | D |
Explanation of responses
- F1Each restricted share unit ("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 "Board"), the cash value thereof. The RSUs were issued as compensation for services as an officer.
- F211,507 RSUs were awarded pursuant to an RSU Award Agreement (the "2017 RSU Award"). These RSUs were awarded to the reporting person as compensation for services as an officer.
- F3The 2017 RSU Award vests ratably on Jaunary 17, 2018, January 16, 2019, and January 15, 2020. Shares of WNR common stock or, at the election of the Compensation Committee of the Board, the cash 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.
- F4These derivative securities includes (a) 7,898 RSUs that remain outstanding pursuant to the award granted March 26, 2013; (b) 5,463 RSUs that remain outstanding pursuant to the award granted March 26, 2014; (c) 9,211 RSUs that remain outstanding pursuant to the award issued in partial settlement of the 2014 Annual Performance Bonus Program for Executive Officers granted March 26, 2015; (d) 3,070 RSUs that remain outstanding pursuant to the award granted March 26, 2015; (e) 28,113 RSUs that remain outstanding pursuant to the award issued in partial settlement of the 2015 Annual Performance Bonus Program for Executive Officers granted March 28, 2016; (f) 14,057 RSUs that remain outstanding pursuant to the award granted March 28, 2016; and (g) 11,507 RSUs that remain outstanding pursuant to the 2017 RSU Award.