SEC Form 4 · accession 0001140361-18-009386
LEGACY RESERVES LP · LGCY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Micah C. Foster
Officer — CAO and Controller
Period of report
Feb 18, 2018
Accepted (ET)
Feb 21, 2018 · 4:39 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 interestsF1 | Feb 18, 2018 | M | 13,578 | $0.00 | A | 29,895 | D | |
| Units representing limited partner interestsF2 | Feb 18, 2018 | F | 6,063 | $2.29 | D | 23,832 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF4,F5,F1,F3 | — | Feb 18, 2018 | M | 13,578 | D | — | — | Units | 13,578 | 29,542 | D |
Explanation of responses
- F1Each phantom unit represents the economic equivalent of a unit representing a limited partner interest in Legacy Reserves LP.
- F2Reflects the closing price of the units on February 16, 2018.
- F3Phantom units granted on or after February 24, 2015 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, 2017, granted on February 24, 2015, vested and therefore 10,344 phantom units were forfeited. With respect to the subjective phantom unit grants, 13,578 phantom units vested.
- F5Includes the remaining 14,674 phantom units and 14,868 phantom units from the phantom units granted on June 22, 2016 and March 1, 2017, respectively.
Remarks
Chief Accounting Officer and Controller of Legacy Reserves GP, LLC, the general partner of Legacy Reserves LP.