SEC Form 4 · accession 0001050417-18-000002
Vanguard Natural Resources, Inc. · VNRR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Period of report
Dec 21, 2017
Accepted (ET)
Mar 5, 2018 · 1:37 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001384072
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF3,F1,F2 | Dec 21, 2017 | A | 5,281 | $0.00 | A | 3,237,641 | I | See footnotes |
| Common StockF1,F2 | Jan 22, 2018 | P | 28,500 | $19.50 | A | 3,266,141 | I | See footnotes |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Contrarian Capital Management, L.L.C. ("Contrarian") is an investment adviser registered with the U.S. Securities Exchange Commission under Section 203 under the Investment Advisers Act of 1940. Contrarian is the investment manager of certain managed accounts and private investment funds (collectively the "Funds"). All securities reported on this Form 4 are owned by the Funds.
- F2Contrarian disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
- F3Securities acquired as a delayed distribution from the Issuer to certain claimholders, including the Reporting Person, in connection with the Issuer's emergence from bankruptcy and in accordance with the Issuer's plan of reorganization which was effectuated on August 1, 2017. For purposes of the exemption under Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended, the board of directors of the Issuer approved the acquisition of any direct or indirect pecuniary interest of such shares of Common Stock by the Reporting Person.
Remarks
Solely for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), Contrarian may be deemed to be a director-by-deputization by virtue of the Funds having a representative on the board of directors of Vanguard Natural Resources, Inc. (the "Board"). Graham Morris, an employee of Contrarian, is a member of the Board.