SEC Form 4 · accession 0000316300-16-000091
EXCO RESOURCES INC · XCOOQ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard Alan Burnett
Officer — CFO & Chief Accounting Officer
Period of report
Mar 7, 2016
Accepted (ET)
Mar 9, 2016 · 3:28 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000316300
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.001 per shareF1 | Mar 7, 2016 | A | 64,241 | $0.00 | A | 607,527 | D | |
| Common Stock, par value $0.001 per shareF2,F3 | Mar 8, 2016 | S | 64,241 | $1.5145 | D | 543,286 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents shares of restricted common stock issued to the reporting person pursuant to the EXCO Resources, Inc. 2015 Management Incentive Plan, as amended (the "MIP"), all of which shares are fully vested. The MIP provides for the payment of performance-based awards to eligible employees, of which seventy-five percent (75%) of the award is payable in cash and twenty-five percent (25%) of the award is payable in shares of fully-vested restricted stock (collectively, the "Award Amount") issued pursuant to the EXCO Resources, Inc. Amended and Restated 2005 Long-Term Incentive Plan, as amended (the "Plan").
- F2Represents shares sold to pay the tax liability associated with the Award Amount.
- F3This transaction was executed in multiple trades at prices ranging from $1.41 to $1.61. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.