SEC Form 4 · accession 0001413507-17-000041
SRC Energy Inc. · SRCI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Nicholas Spence
Officer — Chief Operating Officer-Dev
Period of report
Feb 24, 2017
Accepted (ET)
Feb 28, 2017 · 7:53 pm EST
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 | Feb 24, 2017 | A | 17,459 | $0.00 | A | 100,222 | 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 | Feb 24, 2017 | A | 40,729 | A | — | Feb 21, 2019 | Common Stock | 40,729 | 40,729 | D |
Explanation of responses
- F1Reflects a grant of restricted stock units ("RSUs"). The RSUs vest 33% on February 24, 2018; 33% on February 24, 2019; and 34% on February 24, 2020, 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 ten-day average closing price of the Company's common stock, as reported by the NYSE MKT, for the period ending February 21, 2017 (being $8.66 per share).
- F3The number of Performance Share Units granted is based on the ten-day average closing price of the Company's common stock, as reported by the NYSE MKT, for the period ending February 17, 2017 (being $8.66 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, 2017 and December 31, 2019, 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, 2019.