SEC Form 4 · accession 0001413507-16-000111
SRC Energy Inc. · SRCI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Craig Duane Rasmuson
Officer — Chief Operating Officer
Period of report
Mar 30, 2016
Accepted (ET)
Apr 1, 2016 · 1:49 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001413507
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Mar 30, 2016 | A | 16,036 | $0.00 | A | 106,860 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Share UnitsF3,F4 | $0.00 | Mar 30, 2016 | A | 37,417 | A | — | Dec 31, 2018 | Common Stock | 37,417 | 37,417 | D |
Explanation of responses
- F1(1) Reflects a grant of restricted stock units ("RSUs"). The RSUs vest 33% on March 30, 2017; 33% on March 30, 2018; and 34% on March 30, 2019, provided that the recipient continues to provide substantial services to the Company or an affiliate continuously through the applicable vesting dates.
- F2(2) The number of RSUs granted is based on the five-day average closing price of the Company's common stock, as reported by the NYSE MKT, for the period ending March 30, 2016 (being $7.60 per share).
- F3(3) The number of Performance Share Units granted is based on the five-day average closing price of the Company's common stock, as reported by the NYSE MKT, for the period ending March 30, 2016 (being $7.60 per share).
- F4(4) The reporting person will vest in 0% - 200% of the Performance Share Units based on the relative Total Shareholder Return (TSR) of the Company between January 1, 2016 and December 31, 2018, as measured against the TSR of certain peer companies over that period, provided that the recipient continues to provide substantial services to the Company or an affiliate continuously from the grant date through December 31, 2018.