SEC Form 4 · accession 0001209191-15-004528
PDC ENERGY, INC. · PDCE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James M Trimble
Director
Period of report
Jan 13, 2015
Accepted (ET)
Jan 15, 2015 · 7:12 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 13, 2015 | M | 24,591 | — | A | 217,256 | D | |
| Common StockF2 | Jan 13, 2015 | F | 6,828 | $39.63 | D | 210,428 | D | |
| Common StockF3 | Jan 13, 2015 | A | 3,379 | $0.00 | A | 213,807 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Share RightsF1 | — | Jan 13, 2015 | M | 14,725 | D | — | Dec 31, 2014 | Common Stock | 14,725 | 0 | D |
Explanation of responses
- F1Each performance share/right represented a contingent right to receive shares of Company stock upon achievement of specified minimum thresholds of total shareholder return (TSR) compared to certain peers measured in December of 2014, as described in the related grant agreement. Shares granted represented a 167% payout on previously awarded performance shares/rights.
- F2Represents shares of common stock surrendered to issuer to cover tax withholding obligation of the reporting person upon vesting of shares of restricted stock pursuant to time-based vesting.
- F3These restricted stock units were acquired pursuant to the Amended and Restated 2010 Long-Term Equity Compensation Plan and will vest ratably over three years beginning on January 13, 2016.