SEC Form 4 · accession 0001140361-18-017093
ABRAXAS PETROLEUM CORP · AXAS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dirk A Schwartz
Officer — VP - Business Development
Period of report
Apr 4, 2018
Accepted (ET)
Apr 4, 2018 · 4:28 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 Corp Common Stock | Apr 1, 2018 | A | 27,397 | $2.19 | A | 72,669 | D | |
| Abraxas Petroleum Corp Common StockF1 | Mar 31, 2018 | P | 4,308 | $2.20 | A | 16,147 | 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 Option | $3.15 | holding | — | — | — | Mar 11, 2018 | Mar 11, 2024 | Abraxas Petroleum Corp Common Stock | 17,000 | 17,000 | D |
| Employee Stock Option | $0.97 | holding | — | — | — | Mar 15, 2020 | Mar 15, 2026 | Abraxas Petroleum Corp Common Stock | 24,000 | 24,000 | D |
| Employee Stock Option | $3.67 | holding | — | — | — | Dec 2, 2017 | Dec 2, 2023 | Abraxas Petroleum Corp Common Stock | 20,000 | 20,000 | D |
| Employee Stock Option | $1.67 | holding | — | — | — | Aug 8, 2018 | Aug 8, 2027 | Abraxas Petroleum Common Stock | 100,000 | 100,000 | D |
Explanation of responses
- F1Employer match to 40-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 RSU is contingent upon the achievement of pre-established performance metrics, as approved by the Company's Compensation Committee, over a three year period beginning April 1, 2018 and ending April 1, 2021.
- F3Unless earlier forfeited under the terms of the performance-based RSUs, each performance based vest and converts into no more than 200% of one share of Abraxas Petroleum common stock.