SEC Form 4 · accession 0001528129-19-000017
Laredo Petroleum, Inc. · LPI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Tommye Karen Chandler
Officer — Sr. V.P. & COO
Period of report
Feb 15, 2019
Accepted (ET)
Feb 20, 2019 · 6:08 pm EST
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 | Feb 15, 2019 | F | 8,150 | $3.86 | D | 78,841 | D | |
| Common StockF1 | Feb 19, 2019 | F | 2,367 | $3.76 | D | 76,474 | D | |
| Common StockF2 | Feb 19, 2019 | M | 0 | $0.00 | A | 76,474 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance UnitsF2 | — | Feb 19, 2019 | M | 0 | A | Feb 19, 2019 | — | Common Stock | 0 | 0 | D |
| Stock Option (Right to buy)F3 | $17.34 | holding | — | — | — | Feb 15, 2014 | Feb 15, 2023 | Common Stock | 16,430 | 16,430 | D |
| Stock Option (Right to buy)F3 | $14.12 | holding | — | — | — | Feb 17, 2018 | Feb 17, 2027 | Common Stock | 15,880 | 15,880 | D |
| Performance UnitsF4 | — | holding | — | — | — | Feb 17, 2020 | — | Common Stock | 20,996 | 20,996 | D |
| Performance UnitsF5 | — | holding | — | — | — | Feb 16, 2021 | — | Common Stock | 38,043 | 38,043 | D |
Explanation of responses
- F1Represents shares of common stock withheld by the Issuer to satisfy tax withholding obligations of the Reporting Person in connection with the vesting of a portion of restricted shares previously granted to the Reporting Person under the Issuer's Omnibus Equity Incentive Plan.
- F2The performance share units were granted under the Issuer's Omnibus Equity Incentive Plan and were originally reported on a Form 3 filed by the Issuer on October 26, 2018. Each performance unit represented a share of common stock. The performance units vested on February 19, 2019, and became payable 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. Based on the actual market criteria, 0% of the 33,492 performance units were issued, resulting in the issuance of 0 shares of common stock.
- F3This 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.
- F4These 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, 2019. The final number of shares of common stock granted can range from 0% to 200% of the performance share units.
- 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 (i) against an industry peer group, (ii) on an absolute share return basis and (iii) based on a return on average capital employed metric, over a three-year performance period ending December 31, 2020. The final number of shares of common stock granted can range from 0% to 200% of the performance share units.