SEC Form 4 · accession 0000899243-18-013101
PENN VIRGINIA CORP · PVAC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Period of report
May 14, 2018
Accepted (ET)
May 16, 2018 · 7:15 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000077159
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | May 14, 2018 | S | 5,500 | $63.15 | D | 1,158,054 | I | Footnote |
| Common StockF1,F3 | May 14, 2018 | S | 10,154 | $62.55 | D | 1,147,900 | I | Footnote |
| Common StockF1,F4 | May 14, 2018 | S | 16,128 | $61.61 | D | 1,131,772 | I | Footnote |
| Common StockF1,F5 | May 15, 2018 | S | 200,000 | $60.94 | D | 931,772 | I | Footnote |
| Common StockF1,F6 | May 16, 2018 | S | 17,387 | $63.63 | D | 914,385 | I | Footnote |
| Common StockF1,F7 | May 16, 2018 | S | 34,557 | $64.51 | D | 879,828 | I | Footnote |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1KLS Diversified Asset Management LP ("KLS") is the investment manager of KLS Diversified Master Fund L.P., which is the direct owner of 879,828 shares of Common Stock, par value $0.01 per share (the "Common Stock"), of Penn Virginia Corporation (the "Issuer").
- F2The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $63.01 to $63.84, inclusive. KLS undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Common Stock sold at each separate price within the ranges set forth in this footnote 2 and footnotes 3, 4, 5, 6 and 7.
- F3The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $62.28 to $62.92, inclusive.
- F4The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $61.50 to $61.88, inclusive.
- F5The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $60.65 to $61.40, inclusive.
- F6The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $63.50 to $63.87, inclusive.
- F7The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $63.90 to $64.87, inclusive.
Remarks
Michael Hanna, a Portfolio Manager at KLS, serves as a member of the board of directors of the Issuer as the representative of KLS. In connection therewith, KLS may be deemed to be a director by deputization of the Issuer solely for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended. As a result, KLS is listed as a "Reporting Person" in Item 1 and the "Director" box is marked in Item 4 of this Form 4.