SEC Form 4 · accession 0001413507-16-000147
SRC Energy Inc. · SRCI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jared Grenzenbach
Officer — Chief Accounting Officer
Period of report
Jun 22, 2016
Accepted (ET)
Jun 24, 2016 · 2:05 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 | Jun 22, 2016 | A | 10,307 | $0.00 | A | 25,307 | 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 | Jun 22, 2016 | A | 10,307 | A | — | Dec 31, 2018 | Common Stock | 10,307 | 10,307 | D |
Explanation of responses
- F1Reflects a grant of restricted stock units ("RSUs"). The RSUs vest 33% on June 22, 2017; 33% on June 22, 2018; and 34% on June 22, 2019, provided that the recipient continues to provide substantial services to the Company or an affiliate continuously through the applicable vesting dates.
- F2The 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).
- F3The 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).
- F4The 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.