SEC Form 4 · accession 0001104659-15-019598
WARREN RESOURCES INC · WRES
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert Michael Dowell
Officer — Vice President, Warren E&P
Period of report
Mar 11, 2015
Accepted (ET)
Mar 13, 2015 · 4:40 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000892986
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 11, 2015 | M | 9,444 | — | A | 40,315 | D | |
| Common StockF2 | Mar 11, 2015 | F | 4,050 | $1.175 | D | 36,265 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F3 | — | Mar 11, 2015 | M | 9,444 | D | — | Mar 11, 2016 | Common Stock | 9,444 | 9,444 | D |
| Stock Options (Right to Buy)F4 | $1.11 | Mar 12, 2015 | A | 125,000 | A | — | Mar 12, 2020 | Common Stock | 125,000 | 125,000 | D |
Explanation of responses
- F1Each restricted stock unit converts into Common Stock of Warren Resources, Inc. (the "Issuer") on a one-to-one basis.
- F2This number represents shares of the Issuer's Common Stock withheld to satisfy the tax withholding obligation due upon vesting of restricted stock units.
- F3On March 11, 2013, the Issuer issued restricted stock units ("RSUs") to the reporting person. The RSUs granted on March 11, 2013 vest 1/3 on March 11, 2014, 1/3 on March 11, 2015 and 1/3 on March 11, 2016.
- F4The stock options granted on March 12, 2015 vest: 1/3rd on March 12, 2016, 1/3rd on March 12, 2017 and 1/3rd on March 12, 2018.