SEC Form 4 · accession 0001528129-19-000019

Laredo Petroleum, Inc. · LPI

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Michael T Beyer

Officer — VP - Controller & CAO

Period of report

Feb 15, 2019

Accepted (ET)

Feb 20, 2019 · 6:10 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
Common Stock^F1	Feb 15, 2019	F	9,119	$3.86	D	95,168	D
Common Stock^F1	Feb 19, 2019	F	2,394	$3.76	D	92,774	D
Common Stock^F2	Feb 19, 2019	M	0	$0.00	A	92,774	D

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Performance Units^F2	—	Feb 19, 2019	M	0	A	Feb 19, 2019	—	Common Stock	0	0	D
Performance Units^F3	—	holding	—	—	—	Feb 16, 2021	—	Common Stock	34,662	34,662	D
Stock Option (Right to buy)^F4	$14.12	holding	—	—	—	Feb 17, 2018	Feb 17, 2027	Common Stock	15,019	15,019	D
Performance Units^F5	—	holding	—	—	—	Feb 17, 2020	—	Common Stock	19,858	19,858	D
Stock Option (Right to buy)^F4	$4.10	holding	—	—	—	Feb 19, 2017	Feb 19, 2026	Common Stock	39,133	39,133	D
Stock Option (Right to buy)^F4	$11.93	holding	—	—	—	Feb 27, 2016	Feb 27, 2025	Common Stock	21,188	21,188	D
Stock Option (Right to buy)^F4	$17.34	holding	—	—	—	Feb 15, 2014	Feb 15, 2023	Common Stock	13,077	13,077	D
Stock Option (Right to buy)^F4	$24.11	holding	—	—	—	Feb 3, 2013	Feb 3, 2022	Common Stock	2,617	2,617	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 4 filed by the Issuer on May 27, 2016. 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 49,065 performance units were issued, resulting in the issuance of 0 shares of common stock.
F3These 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.
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, 2019. The final number of shares of common stock granted can range from 0% to 200% of the performance share units.