SEC Form 4 · accession 0001140361-16-070744

LEGACY RESERVES LP · LGCY

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

Reporting owner

Officer — Chairman, President and CEO · Director

Period of report

Jun 22, 2016

Accepted (ET)

Jun 24, 2016 · 2:18 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001358831

Table I — non-derivative securities

No Table I lines on this filing.

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Phantom Units^F1,F3,F2	—	Jun 22, 2016	A	155,435	A	—	Feb 18, 2019	Units	155,435	236,800	D
Phantom Units^F1,F4,F5	—	Jun 22, 2016	A	888,200	A	—	Feb 18, 2019	Units	888,200	888,200	D
Phantom Units^F1,F5	—	Jun 22, 2016	A	510,714	A	—	Feb 18, 2019	Units	510,714	510,714	D

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, 2019 and are payable in units.
F3Includes the remaining 20,216 phantom units and 61,149 phantom units from the phantom units granted on March 3, 2014 and February 24, 2015, respectively, which are all payable in units.
F4Represents maximum possible number of phantom units subject to cliff vesting after a three year period ending on February 18, 2019, or 200% of the target amount. The number of phantom units that vest on February 18, 2019 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.
F5The phantom units reported on this Form 4 are subject to vesting on February 18, 2019 and are payable in cash.

Chairman, President and Chief Executive Officer of Legacy Reserves GP, LLC, the general partner of Legacy Reserves LP.