SEC Form 4 · accession 0000899243-17-001581
PDC ENERGY, INC. · PDCE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Scott J Reasoner
Officer — Chief Operating Officer
Period of report
Jan 17, 2017
Accepted (ET)
Jan 19, 2017 · 6:40 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000077877
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 17, 2017 | A | 8,256 | $0.00 | A | 63,631 | D | |
| Common Stock | holding | — | — | — | 2,610 | I | By 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Appreciation RightsF2 | $74.57 | Jan 17, 2017 | A | 7,962 | A | — | Jan 17, 2027 | Common Stock | 7,962 | 7,962 | D |
| Performance Share UnitsF3 | — | Jan 17, 2017 | A | 4,128 | A | — | Dec 31, 2019 | Common Stock | 4,128 | 4,128 | D |
Explanation of responses
- F1The restricted stock units vest in three pro rata installments on December 28, 2017, December 28, 2018, and January 17, 2020.
- F2The Stock Appreciation Rights ("SARs") become exercisable in three pro rata installments on December 28, 2017, December 28, 2018, and January 17, 2020. The reporting person also holds additional previously awarded SARs subject to different vesting, exercise price and other criteria.
- F3Each performance share unit represents a contingent right to receive 0-200% of that number in shares of PDCE common stock. The amount reported represents the "target" number. The performance shares units vest upon continued employment and achievement of specified thresholds of total shareholder return (TSR) compared to certain peers, as measured on December of 2019 and as described in the related grant agreement. Participant also holds additional previously awarded performance shares/rights and performance share units, all subject to different future vesting and performance criteria.