SEC Form 4 · accession 0001528129-19-000048
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 28, 2019
Accepted (ET)
Mar 4, 2019 · 5:18 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 28, 2019 | A | 277,397 | $3.43 | A | 353,871 | 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 28, 2019 | A | 277,397 | A | Feb 28, 2022 | — | Common Stock | 277,397 | 277,397 | D |
| Performance UnitsF3 | — | holding | — | — | — | Feb 16, 2021 | — | Common Stock | 38,043 | 38,043 | D |
| Performance UnitsF4 | — | holding | — | — | — | Feb 17, 2020 | — | Common Stock | 20,996 | 20,996 | D |
| Stock Option (Right to buy)F5 | $14.12 | holding | — | — | — | Feb 17, 2018 | Feb 17, 2027 | Common Stock | 15,880 | 15,880 | D |
| Stock Option (Right to buy)F5 | $17.34 | holding | — | — | — | Feb 15, 2014 | Feb 15, 2023 | Common Stock | 16,430 | 16,430 | D |
Explanation of responses
- F1These restricted shares are granted under the Issuer's Omnibus Equity Incentive Plan and will vest in three equal annual installments beginning on the first anniversary date of the grant.
- F2These 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, cash, or a combination of common stock and cash, to be determined in the discretion of the Issuer's Compensation Committee, based upon (i) the Issuer's total shareholder return measured 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, 2021. The final number of shares of common stock granted can range from 0% to 200% of the performance share units.
- 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 (i) the Issuer's total shareholder return measured 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.
- 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 shareholder 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.
- F5This 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.