SEC Form 4 · accession 0001104659-17-071575

Energy XXI Gulf Coast, Inc. · EGC

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

Reporting owner

Director

Period of report

Nov 21, 2017

Accepted (ET)

Dec 4, 2017 · 11:45 am EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001404973

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1,F2	Nov 21, 2017	M	9,833	—	A	9,833	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Units^F3,F1,F2	—	Nov 21, 2017	M	9,833	D	—	—	Common Stock	9,833	6,667	D

F1Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock, par value $0.01 per share ("Common Stock"), of Energy XXI Gulf Coast, Inc. (the "Issuer") upon vesting and settlement.
F2On November 21, 2017, Mr. Kollitides resigned as a director of the Issuer. In recognition of his service, the Issuer's board of directors (the "Board") accelerated the vesting date of certain RSUs granted to Mr. Kollitides, so that 6,583 RSUs that were scheduled to vest on January 31, 2018, vested on November 21, 2017. Upon vesting, those RSUs were settled in shares of Common Stock, on a one-for-one basis. In addition, 3,250 RSUs that had previously vested were settled in shares of Common Stock, on a one-for-one basis, when Mr. Kollitides ceased to be a member of the Board on November 21, 2017.
F3The remaining 6,667 RSUs previously granted to Mr. Kollitides, which were scheduled to vest in equal installments on December 31, 2018 and December 31, 2019, remained unvested when Mr. Kollitides ceased to be a member of the Board on November 21, 2017 and, accordingly, were forfeited back to the Issuer. That forfeiture is exempt from Sections 16(a) and 16(b) of the Securities Exchange Act of 1934 (the "Exchange Act") pursuant to Rules 16a-4(d) and 16b-6(d), respectively, under the Exchange Act.