SEC Form 4 · accession 0001104659-17-072781
PENN VIRGINIA CORP · PVAC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Strategic Value Partners, LLC
10% Owner
Victor Khosla
10% Owner
SVP Special Situations III LLC
10% Owner
SVP Special Situations III-A LLC
10% Owner
Period of report
Oct 26, 2017
Accepted (ET)
Dec 11, 2017 · 7:08 pm EST
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,F3,F4 | Oct 26, 2017 | J | 4,651 | — | A | 707,252 | I | See footnotes |
| Common StockF1,F2,F3,F4 | Oct 26, 2017 | J | 10,882 | — | A | 718,134 | I | See footnotes |
| Common StockF1,F2,F3,F5 | Oct 26, 2017 | J | 7,222 | — | A | 618,793 | I | See footnotes |
| Common StockF1,F2,F3,F5 | Oct 26, 2017 | J | 6,569 | — | A | 625,362 | I | See footnotes |
| Common StockF1,F2,F3,F6 | Oct 26, 2017 | J | 2,349 | — | A | 188,829 | I | See footnotes |
| Common StockF1,F2,F3,F6 | Oct 26, 2017 | J | 1,855 | — | A | 190,684 | I | See footnotes |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The reported shares were held in escrow in connection with the Issuer's Joint Plan of Reorganization confirmed by the United States Bankruptcy Court for the Eastern District of Virginia on August 11, 2016. The reported shares were released from escrow on October 26, 2017.
- F2The reported securities are held directly by Strategic Value Master Fund, Ltd., Strategic Value Special Situations Master Fund III, L.P. and Strategic Value Opportunities Fund, L.P. (together, the "Funds"), and may be deemed to be held indirectly by Strategic Value Partners, LLC ("Strategic Value Partners"), SVP Special Situations III LLC ("Special Situations III"), SVP Special Situations III-A LLC ("Special Situations III-A"), each as investment manager and Victor Khosla ("Mr. Khosla" and together with Strategic Value Partners, Special Situations III and Special Situations III-A, the "Reporting Persons"), as the sole member of Midwood Holdings, LLC, the managing member of Strategic Value Partners, in each case as described below.
- F3The filing of this Form 4 shall not be construed as an admission that the Reporting Persons or the Funds are or were for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owners of any of the shares of common stock, of Penn Virginia Corporation (the "Issuer"). The Reporting Persons and the Funds disclaim such beneficial ownership, except to the extent of their pecuniary interest.
- F4Held directly by Strategic Value Master Fund, Ltd., a Cayman Islands exempted company. Strategic Value Partners is the investment manager of, and exercises investment discretion over Strategic Value Master Fund, Ltd.. Strategic Value Partners is indirectly majority owned and controlled by Mr. Khosla.
- F5Held directly by Strategic Value Special Situations Master Fund III, L.P., a Cayman Islands exempted limited partnership. Special Situations III is the investment manager of, and exercises investment discretion over Strategic Value Special Situations Master Fund III, L.P. Strategic Value Partners is the managing member of Special Situations III. Strategic Value Partners and Special Situations III are both indirectly majority owned and controlled by Mr. Khosla.
- F6Held directly by Strategic Value Opportunities Fund, L.P., a Cayman Islands exempted limited partnership. Special Situations III-A is the investment manager of, and exercises investment discretion over Strategic Value Opportunities Fund, L.P. Strategic Value Partners is the managing member of Special Situations III-A. Strategic Value Partners and Special Situations III-A are both indirectly majority owned and controlled by Mr. Khosla.