SEC Form 4 · accession 0001140361-15-008223

LEGACY RESERVES LP · LGCY

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

Reporting owner

Officer — CAO and Controller

Period of report

Feb 18, 2015

Accepted (ET)

Feb 20, 2015 · 5:00 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001358831

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Units representing limited partner interests^F1,F2	Feb 18, 2015	M	695	$0.00	A	14,929	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Phantom Units^F1,F5,F3,F4	—	Feb 18, 2015	M	695	D	—	—	Units	695	11,193	D

F1Each phantom unit represents the economic equivalent of a unit representing a limited partner interest in Legacy Reserves LP.
F2Includes 6,000 restricted units that vest on May 19, 2017.
F3Phantom units granted prior to March 3, 2014 vest annually in one-third increments on February 18th of each applicable year and are payable in units. Phantom units granted on or after March 3, 2014 vest on February 18th in the third year after grant and are payable in units.
F4Pursuant to the achievement of certain objective, performance-based criteria, none of the phantom units eligible to vest for the year ended December 31, 2014, granted on March 7, 2013, vested and therefore 1,148 phantom units were forfeited. With respect to the subjective phantom unit grants, 695 phantom units (the second tranche of the 2013 subjective phantom unit grant), vested.
F5Includes the remaining 1,842 phantom units and 9,351 phantom units from the phantom units granted on March 7, 2013 and March 3, 2014, respectively.

Chief Accounting Officer and Controller of Legacy Reserves GP, LLC, the general partner of Legacy Reserves LP.