SEC Form 4 · accession 0001104659-18-024929
Sanchez Energy Corp · SNEC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patricio D. Sanchez
Officer — Executive Vice President
Period of report
Apr 16, 2018
Accepted (ET)
Apr 18, 2018 · 7:13 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001528837
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Apr 16, 2018 | M | 33,333 | — | A | 694,298 | D | |
| Common Stock | Apr 16, 2018 | D | 33,333 | $3.74 | D | 660,965 | D | |
| Common StockF2 | Apr 17, 2018 | A | 253,116 | — | A | 914,081 | D | |
| Common StockF3 | Apr 17, 2018 | S | 13,202 | $3.716 | A | 900,879 | D | |
| Common StockF4 | holding | — | — | — | 371,836 | I | By 1988 Trust No. 14 |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF1,F5 | — | Apr 16, 2018 | M | 33,333 | D | Apr 16, 2018 | Apr 16, 2018 | Common Stock | 33,333 | 0 | D |
| Phantom StockF6,F5 | — | Apr 17, 2018 | A | 253,115 | A | Apr 19, 2021 | Apr 19, 2021 | Common Stock | 253,115 | 253,115 | D |
Explanation of responses
- F1Each share of phantom stock is the economic equivalent of one share of the Issuer's common stock, par value $0.01 per share. The Reporting Person settled his shares of phantom stock for cash.
- F2Represents a grant of restricted stock Reporting Person received from the Issuer.
- F3The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan established by the Reporting Person and was used to satisfy the Reporting Person's federal income tax obligations with respect to the vesting of equity awards.
- F4These shares are owned directly by 1988 Trust No. 14. Reporting Person is a co-trustee, along with A. R. Sanchez, Jr., and a beneficiary of 1988 Trust No. 14. Reporting Person may be deemed to share voting and dispositive power over the shares held by 1988 Trust No. 14. Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership by Reporting Person of the reported securities for purposes of Section 16 or any other purpose.
- F5Phantom stock is payable only in cash, which vests in equal annual increments over a three-year period.
- F6Each share of phantom stock is the economic equivalent of one share of the Issuer's common stock, par value $0.01 per share.