SEC Form 4 · accession 0001104659-18-000521
Energy XXI Gulf Coast, Inc. · EGC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Douglas E Brooks
Officer — President and CEO · Director
Period of report
Dec 29, 2017
Accepted (ET)
Jan 3, 2018 · 4:16 pm 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 StockF1 | Dec 29, 2017 | M | 24,691 | — | A | 49,691 | D | |
| Common StockF1 | Dec 29, 2017 | F | 6,754 | — | D | 42,937 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF3 | — | Dec 29, 2017 | M | 24,691 | D | — | — | Common Stock | 24,691 | 24,691 | D |
Explanation of responses
- F1Represents settlement upon the vesting of the first one-half of Mr. Brooks's restricted stock units granted on April 17, 2017.
- F2Mr. Brooks elected to satisfy a tax withholding obligation arising upon vesting of the restricted stock units by having Energy XXI Gulf Coast, Inc. (the "Company") withhold shares that would have otherwise been issued to Mr. Brooks. The 6,754 shares withheld had a value equal to the tax withholding obligation.
- F3Settlement of the vested portion of restricted stock units that were awarded to Mr. Brooks under the 2016 Long Term Incentive Plan of the Company. Each restricted stock unit represents a right to receive one share of common stock, par value $0.01 per share, of the Company.