SEC Form 4 · accession 0001104659-18-025142
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
Apr 17, 2018
Accepted (ET)
Apr 19, 2018 · 1:54 pm EDT
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 | Apr 17, 2018 | M | 20,370 | — | A | 63,307 | D | |
| Common StockF1 | Apr 17, 2018 | F | 4,961 | — | D | 58,346 | 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 | — | Feb 2, 2018 | M | 20,370 | D | — | — | Common Stock | 20,370 | 41,358 | D |
Explanation of responses
- F1Represents the settlement for shares on the vesting of the first 33% tranche of the 61,728 restricted stock units granted to Mr. Brooks on April 17, 2017. No additional consideration was paid by Mr. Brooks in connection with such settlement.
- F2Mr. Brooks elected to satisfy a tax withholding obligation arising upon vesting of the restricted stock units by having Energy XXI Gulf Coast, Inc. withhold shares that would have otherwise been issued to Mr. Brooks. The 4,961 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 Energy XXI Gulf Coast, Inc.