SEC Form 4 · accession 0001384072-17-000011
Vanguard Natural Resources, Inc. · VNRR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bruce W. McCullough
Director
Period of report
Jan 4, 2017
Accepted (ET)
Jan 5, 2017 · 4:01 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001384072
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 UnitsF2,F1 | — | Jan 4, 2017 | A | 160,256 | A | Jan 4, 2018 | — | Common Units representing LLC units | 160,256 | 202,202 | D |
Explanation of responses
- F1Each phantom unit gives the holder the right to receive a common unit equal to the number of phantom units or the cash value of the vested phantom units as determined by the Compensation Committee at its discretion.
- F2The phantom units were granted pursuant to a Written Consent of the Compensation Committee of the Board of Directors dated December 30, 2016. Each phantom unit is equivalent in value to a common unit but is subject to a one year vesting period, ending on January 4, 2018. The phantom units are accompanied by dividend equivalent rights ("DERs"), which entitle the director to receive the value of any dividends made by the Company on its units generally with respect to the number of phantom units that director received pursuant to this grant.