SEC Form 4 · accession 0001437749-19-003197
PDC ENERGY, INC. · PDCE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lance Lauck
Officer — EVP, Corp. Dev. & Strategy
Period of report
Feb 20, 2019
Accepted (ET)
Feb 22, 2019 · 7:31 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 | Feb 20, 2019 | A | 23,371 | $0.00 | A | 112,729 | D | |
| Common StockF2 | holding | — | — | — | 3,179 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Share UnitsF3 | — | Feb 20, 2019 | A | 23,371 | A | — | Dec 31, 2021 | Common Stock | 23,371 | 23,371 | D |
Explanation of responses
- F1The restricted stock units were acquired pursuant to the PDC Energy, Inc. Amended and Restated 2010 Long-Term Equity Compensation Plan and will vest in three equal annual installments beginning on February 20, 2020.
- F2401(k) Plan holdings as of February 21, 2019.
- F3Each performance share unit represents a contingent right to receive 0-200% of that number in shares of Company common stock. The amount reported represents the "target" number. The performance shares units vest upon continued employment and achievement of specified metrics compared to certain peers, as measured in December of 2021 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.