SEC Form 4 · accession 0001140361-15-009059
LEGACY RESERVES LP · LGCY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kyle A McGraw
Officer — EVP and CDO · Director
Period of report
Feb 24, 2015
Accepted (ET)
Feb 26, 2015 · 2:00 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001358831
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF1,F2 | — | Feb 24, 2015 | A | 50,690 | A | — | Feb 18, 2018 | Units | 50,690 | 94,693 | D |
| Phantom UnitsF1,F4,F2,F3 | — | Feb 24, 2015 | A | 38,620 | A | — | Feb 18, 2018 | Units | 38,620 | 133,313 | D |
Explanation of responses
- F1Each phantom unit represents the economic equivalent of a unit representing a limited partner interest in Legacy Reserves LP.
- F2The phantom units reported on this Form 4 are subject to vesting on February 18, 2018 and are payable in units.
- F3The number of phantom units that vest on February 18, 2018 is subject to the achievement of certain objective, performance-based criteria during the three fiscal years prior to the vesting date. If none or only a portion of phantom units vest as a result of specified performance levels not being met, such number of phantom units that fail to vest will be forfeited.
- F4Includes the remaining 7,165 phantom units, 36,838 phantom units and 89,310 phantom units from the phantom units granted on March 7, 2013, March 3, 2014 and February 24, 2015, respectively.
Remarks
Director, Executive Vice President and Chief Development Officer of Legacy Reserves GP, LLC, the general partner of Legacy Reserves LP.