SEC Form 4 · accession 0001179110-18-000978
PDC ENERGY, INC. · PDCE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David C Parke
Director
Period of report
Jan 17, 2018
Accepted (ET)
Jan 18, 2018 · 5:43 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, 2018 | D | 616 | — | D | 15,193 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF2,F3 | — | Jan 17, 2018 | A | 616 | A | — | — | Common Stock | 616 | 6,029 | D |
Explanation of responses
- F1The reporting person previously elected to defer 616 shares of restricted stock vesting on January 17, 2018 (the shares of restricted stock were originally granted on January 17, 2017), and accordingly received 616 shares of phantom stock on January 17, 2018 pursuant to the PDC Energy, Inc. Amended and Restated Non-Employee Director Deferred Compensation Plan (the "Plan"). As a result, the reporting person is reporting the disposition of 831 shares of common stock in exchange for an equal number of shares of phantom stock. The shares shown in column 9 of Table II include 5,413 shares previously acquired pursuant to the Plan and previously reported in Table I of reporting person's Form 4 filings.
- F2Each share of phantom stock represents a right to receive one share of common stock or, at the reporting person's election, the cash value thereof.
- F3The phantom stock becomes payable upon the first to occur of (1) the reporting persons "separation of service" as defined under Section 409A of the Internal Revenue Code of 1986, as amended, or (2) a "Change in Control" of PDC Energy, Inc. as such item is defined in the Plan.
Remarks
The code previously reported in column 4 on Table I, lines 1 and 2 of a Form 4 filed by the reporting person on January 16, 2018 was incorrect, and should have been "D". All other information on such lines was correct.