SEC Form 4 · accession 0001140361-18-017081
ABRAXAS PETROLEUM CORP · AXAS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Tod A Clarke
Officer — Vice President - Land
Period of report
Apr 4, 2018
Accepted (ET)
Apr 4, 2018 · 4:25 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000867665
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Abraxas Petroleum Common Stock | Apr 1, 2018 | A | 27,397 | $2.19 | A | 121,476 | D | |
| Abraxas Petroleum Common StockF1 | Mar 31, 2018 | P | 4,729 | $2.20 | A | 28,409 | I | 401-K |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance-based Restricted Stock UnitF2,F3 | $0.00 | Apr 1, 2018 | M | 27,397 | A | — | — | Abraxas Petroleum Common Stock | 27,397 | 27,397 | D |
| Employee Stock OptionF4 | $3.15 | holding | — | — | — | Mar 11, 2015 | Mar 11, 2024 | Abraxas Petroleum Common Stock | 18,000 | 18,000 | D |
| Employee Stock OptionsF4 | $0.97 | holding | — | — | — | Mar 15, 2017 | Mar 17, 2026 | Abraxas Petroleum Common Stock | 64,000 | 64,000 | D |
| Employee Stock OptionF4 | $3.74 | holding | — | — | — | Mar 8, 2013 | Mar 8, 2022 | Abraxas Petroleum Common Stock | 5,000 | 5,000 | D |
| Employee Stock OptionF4 | $4.72 | holding | — | — | — | Mar 15, 2012 | Mar 15, 2021 | Abraxas Petroleum Common Stock | 10,000 | 10,000 | D |
| Employee Stock OptionF4 | $2.09 | holding | — | — | — | Mar 16, 2011 | Mar 16, 2020 | Abraxas Petroleum Common Stock | 13,300 | 13,300 | D |
| Employee Stock OptionF4 | $0.99 | holding | — | — | — | Mar 17, 2010 | Mar 17, 2019 | Abraxas Petroleum Common Stock | 5,000 | 5,000 | D |
| Employee Stock OptionF4 | $2.39 | holding | — | — | — | May 14, 2014 | May 14, 2023 | Abraxas Petroleum Common Stock | 17,300 | 17,300 | D |
| Employee Stock OptionF4 | $3.55 | holding | — | — | — | Aug 9, 2012 | Aug 9, 2021 | Abraxas Petroleum Common Stock | 25,000 | 25,000 | D |
| Employee Stock OptionF4 | $1.75 | holding | — | — | — | Oct 5, 2010 | Oct 5, 2019 | Abraxas Petroleum Common Stock | 20,775 | 20,775 | D |
Explanation of responses
- F1Employer match to 401-K for the year ended December 31, 2017.
- F2Each performance-based restricted stock unit (RSU) represents the right to receive, following vesting, up to 200% of one share of Abraxas Petroleum common stock. The resulting number of shares of Abraxas Petroleum common stock acquired upon vesting of the performance-based RSUs is contingent upon the achievement of of pre-established performance metrics, as approved by the Company's Compensation Committee, over a three-year performance period beginning on April 1, 2018 and ending on April 1, 2021.
- F3Unless earlier forfeited under the terms of the terms of the Performance-based RSU, each performance-based RSU vest and converts into no more than 200% of of one share of Abraxas Petroleum common stock three years after the grant date.
- F4Options vest 25% per year from the grant date.