SEC Form 4 · accession 0001140361-15-043227
Energy XXI Ltd · EXXIQ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bruce W Busmire
Officer — Chief Financial Officer
Period of report
Dec 1, 2015
Accepted (ET)
Dec 1, 2015 · 4:07 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001343719
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 96,325 | 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 | — | Dec 1, 2015 | A | 174,909 | A | — | — | Common Stock | 174,909 | 174,909 | D |
| Performance UnitsF1,F3 | — | Dec 1, 2015 | A | 173,160 | A | — | — | Common Stock | 173,160 | 173,160 | D |
Explanation of responses
- F1The restricted stock units and performance unit Shares were awarded December 1, 2015 under The Energy XXI Services, LLC 2006 Long-Term Incentive Plan to Mr. Busmire. Each unit represents the contingent right to receive one share of the Issuer's common stock or, at the option of the Issuer, the cash equivalent.
- F2The restricted stock units will vest one-third on July 21, 2016, one-third on July 21, 2017, and one-third on July 21, 2018.
- F3Performance units vest on June 30, 2018 . The number of units that vest is determined by the Company's Total Shareholder Return (TSR) which may range from 0% to 300%.