SEC Form 4 · accession 0001209191-18-024712
Gastar Exploration Inc. · GST
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
J Russell Porter
Officer — Former CEO & President · Director
Period of report
Apr 10, 2018
Accepted (ET)
Apr 12, 2018 · 11:41 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001431372
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Apr 10, 2018 | F | 978,126 | $0.63 | D | 4,115,984 | D | |
| Common Stock | Apr 10, 2018 | D | 386,719 | $0.00 | D | 3,729,265 | D | |
| Common StockF3 | holding | — | — | — | 150,000 | I | Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2016 Performance Based UnitsF5 | $0.00 | Apr 10, 2018 | D | 404,412 | D | — | Jan 30, 2019 | Common Stock | 404,412 | 0 | D |
| 2017 Performance Based UnitsF5 | $0.00 | Apr 10, 2018 | D | 372,741 | D | — | Jan 30, 2020 | Common Stock | 372,741 | 0 | D |
| 2018 Performance Based UnitsF5 | $0.00 | Apr 10, 2018 | D | 386,719 | D | — | Jan 30, 2021 | Common Stock | 386,719 | 0 | D |
Explanation of responses
- F1Shares forfeited to meet tax obligation of accelerated restricted share vesting upon termination.
- F2Unvested restricted shares forfeited upon termination.
- F3On July 10, 2014, the reporting person gifted 150,000 shares to his children in trusts for which the reporting person acts as the trustee as follows: The James Breckenridge Porter Trust of 2014 - 37,500 shares, The Grant Anderson Porter Trust of 2014 - 37,500 shares, The Addison Ann Porter Trust of 2014 - 37,500 shares and The Lily Madeline Porter Trust of 2014 - 37,500 shares. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for the purposes of Section 16 or for any other purpose.
- F4Unvested performance based units forfeited upon termination.
- F5These PBUs were to vest in their entirety at the end of a three-year performance period as previously reported.