SEC Form 4 · accession 0001209191-17-018205

Montage Resources Corp · MR

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

Reporting owner

Benjamin Ward Hulburt

Officer — President and CEO · Director

Period of report

Feb 23, 2017

Accepted (ET)

Mar 6, 2017 · 2:06 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001600470

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1	Feb 23, 2017	M	58,979	—	A	893,751	D
Common Stock^F2	Feb 23, 2017	F	18,648	$2.22	D	875,103	D
Common Stock^F3	Feb 24, 2017	F	130,110	$2.23	D	744,993	D
Common Stock^F4	Feb 24, 2017	A	627,907	$2.15	A	1,372,900	D
Common Stock^F5	Feb 24, 2017	A	65,529	$2.15	A	1,438,429	D
Common Stock^F6	holding	—	—		—	993,315	I	See footnote

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Units^F1	—	Feb 23, 2017	M	58,979	D	—	—	Common Stock	58,979	58,980	D
Performance Stock Units^F7	—	Feb 24, 2017	A	627,907	A	—	—	Common Stock	627,907	0	D

Explanation of responses

F1On February 23, 2015, the reporting person was granted 176,938 restricted stock units under the Company's 2014 Long-Term Incentive Plan, with each unit representing the right to receive one share of the issuer's common stock. The total shares underlying the restricted stock units vested 33.33% on February 23, 2016 and 33.33% on February 23, 2017, respectively. The remaining restricted stock units will vest 33.33% on February 23, 2018.
F2Represents shares withheld to satisfy tax obligations upon the vesting of the restricted stock units on February 23, 2017.
F3Represents shares withheld to satisfy tax obligations upon the vesting of restricted stock units for an award that the reporting person was granted on February 25, 2016 in the amount of 426,727 restricted stock units under the Company's 2014 Long-Term Incentive Plan, with each unit representing the right to receive one share of the issuer's common stock.
F4Represents restricted stock units representing the right to receive one share of common stock per unit granted on February 24, 2017 under the Company's 2014 Long-Term Incentive Plan, which vest in three equal installments of 33.33%, 33.33% and 33.33% on February 24, 2018, February 24, 2019 and February 24, 2020, respectively.
F5On February 24, 2017, the reporting person was granted 65,529 restricted stock units, with each unit representing the right to receive one share of the issuer's common stock. The restricted stock units will vest in full at 11:59 p.m. Eastern Standard Time on February 23, 2018.
F6Represents shares of the issuer's common stock held in the name of The Hulburt Family II Limited Partnership, which is controlled by the Reporting Person.
F7Represents performance stock units representing the right to receive one share of common stock per unit granted on February 24, 2017 under the Company's 2014 Long-Term Incentive Plan, the vesting of which is subject to the satisfaction of certain performance criteria in the period beginning January 1, 2017 and ending on December 31, 2019.