SEC Form 4 · accession 0001528129-16-000247
Laredo Petroleum, Inc. · LPI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard C Buterbaugh
Officer — Executive Vice President & CFO
Period of report
May 25, 2016
Accepted (ET)
May 27, 2016 · 9:05 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001528129
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 25, 2016 | A | 86,095 | $12.36 | A | 219,952 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to buy)F2 | $4.10 | May 25, 2016 | A | 137,335 | A | Feb 19, 2017 | Feb 19, 2026 | Common Stock | 137,335 | 137,335 | D |
| Performance UnitsF3 | — | May 25, 2016 | A | 172,190 | A | Dec 31, 2018 | — | Common Stock | 172,190 | 172,190 | D |
| Stock Option (Right to buy)F4 | $11.93 | holding | — | — | — | Feb 27, 2016 | Feb 27, 2025 | Common Stock | 74,358 | 74,358 | D |
| Performance UnitsF5 | — | holding | — | — | — | Dec 31, 2017 | — | Common Stock | 70,927 | 70,927 | D |
| Stock Option (Right to buy)F4 | $25.60 | holding | — | — | — | Feb 27, 2015 | Feb 27, 2024 | Common Stock | 42,532 | 42,532 | D |
| Performance UnitsF6 | — | holding | — | — | — | Dec 31, 2016 | — | Common Stock | 34,374 | 34,374 | D |
| Stock Option (Right to buy)F4 | $17.34 | holding | — | — | — | Feb 15, 2014 | Feb 15, 2023 | Common Stock | 42,961 | 42,961 | D |
Explanation of responses
- F1On February 19, 2016, the compensation committee of the Issuer's board of directors approved this grant to the Reporting Person, subject to and contingent upon approval by the Issuer's stockholders of an amendment to the Omnibus Equity Incentive Plan at the Issuer's 2016 annual meeting of stockholders to, among other things, increase the number of shares authorized for issuance thereunder. On May 25, 2016, the Issuer's stockholders approved such amendment. These restricted shares are granted under the Issuer's Omnibus Equity Incentive Plan and will vest in three equal annual installments on February 19, 2017, February 19, 2018 and February 19, 2019.
- F2On February 19, 2016, the compensation committee of the Issuer's board of directors approved this grant to the Reporting Person, subject to and contingent upon approval by the Issuer's stockholders of an amendment to the Omnibus Equity Incentive Plan at the Issuer's 2016 annual meeting of stockholders to, among other things, increase the number of shares authorized for issuance thereunder. On May 25, 2016, the Issuer's stockholders approved such amendment. This stock option is granted under the Issuer's Omnibus Equity Incentive Plan and is exercisable as to 25% on each of February 19, 2017, February 19, 2018, February 19, 2019 and February 19, 2020.
- F3On February 19, 2016, the compensation committee of the Issuer's board of directors approved this grant to the Reporting Person, subject to and contingent upon approval by the Issuer's stockholders of an amendment to the Omnibus Equity Incentive Plan at the Issuer's 2016 annual meeting of stockholders to, among other things, increase the number of shares authorized for issuance thereunder. On May 25, 2016, the Issuer's stockholders approved such amendment. These performance share units are granted under the Issuer's Omnibus Equity Incentive Plan. Each performance share unit represents a share of common stock. The performance share units will be payable, if at all, in common stock, based upon the Issuer's total shareholders return measured against an industry peer group, over a three year performance period ending December 31, 2018. The final number of shares of common stock granted can range from 0% to 200% of the performance share units.
- F4This stock option was granted under the Issuer's Omnibus Equity Incentive Plan and is exercisable as to 25% on each of the first four anniversaries of the date of the grant.
- F5These performance share units are granted under the Issuer's Omnibus Equity Incentive Plan. Each performance share unit represents a share of common stock. The performance share units will be payable, if at all, in common stock, based upon the Issuer's total shareholders return measured against an industry peer group, over a three year performance period ending December 31, 2017. The final number of shares of common stock granted can range from 0% to 200% of the performance share units.
- F6These performance share units are granted under the Issuer's Omnibus Equity Incentive Plan. Each performance share unit represents a share of common stock. The performance share units will be payable, if at all, in common stock, based upon the Issuer's total shareholders return measured against an industry peer group, over a three year performance period ending December 31, 2016. The final number of shares of common stock granted can range from 0% to 200% of the performance share units.