SEC Form 4 · accession 0001209191-17-016284

STONE ENERGY CORP · SGY

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Florence M Ziegler

Officer — Sr VP-HR, Communication &Admin

Period of report

Feb 28, 2017

Accepted (ET)

Mar 2, 2017 · 10:32 am EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000904080

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common stock, $0.01 par value^F1	Feb 28, 2017	J	5,698	$0.00	D	0	D
Common stock, $0.01 par value^F1	Feb 28, 2017	J	200	$0.00	D	0	I	By Daughter
Common stock, $0.01 par value^F1	Feb 28, 2017	J	200	$0.00	D	0	I	By Son
Common stock, $0.01 par value^F2	Mar 1, 2017	J	1,005	$0.00	A	1,005	D
Common stock, $0.01 par value^F3	Mar 1, 2017	J	35	$0.00	A	35	I	By Daughter
Common stock, $0.01 par value^F3	Mar 1, 2017	J	35	$0.00	A	35	I	By Son

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Warrants^F4	$42.04	Mar 1, 2017	J	3,545	A	—	Mar 1, 2021	Common stock, $0.01 par value	3,545	3,545	D
Warrants^F4	$42.04	Mar 1, 2017	J	124	A	—	Mar 1, 2021	Common stock, $0.01 par value	124	124	I
Warrants^F4	$42.04	Mar 1, 2017	J	124	A	—	Mar 1, 2021	Common stock, $0.01 par value	124	124	I

Explanation of responses

F1On December 14, 2016, the Issuer and certain of its subsidiaries (the "Debtors") filed voluntary petitions in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the "Bankruptcy Court") seeking relief under the provisions of Chapter 11 of Title 11 of the United States Bankruptcy Code (the "Bankruptcy Code"). On February 15, 2017, the Bankruptcy Court entered an order confirming the Debtor's Second Amended Joint Prepackaged Plan of Reorganization, dated December 28, 2016 (the "Plan") and on February 28, 2017 (the "Effective Date"), the Plan became effective pursuant to its terms and the Debtors emerged from bankruptcy. On the Effective Date, all outstanding shares of the Issuer's common stock (the "Old Common Stock") were cancelled and extinguished.
F2New shares of the Issuer's common stock, par value $0.01 per share (the "New Shares") were issued to the Reporting Person pursuant to the Plan in exchange for Old Common Stock held by the Reporting Person on the Effective Date under the Plan. The Reporting Person received 1 New Share for every 5.674558 shares of Old Common Stock held by the Reporting Person on the Effective Date of the Plan. Included in the New Shares are 90 shares of restricted stock that vest January 15, 2018. The receipt of New Shares was involuntary, without consideration and in accordance with the Plan approved by the Bankruptcy Court.
F3New shares of the Issuer's common stock, par value $0.01 per share (the "New Shares") were issued to the Reporting Person pursuant to the Plan in exchange for Old Common Stock held by the Reporting Person on the Effective Date under the Plan. The Reporting Person received 1 New Share for every 5.674558 shares of Old Common Stock held by the Reporting Person on the Effective Date of the Plan. The receipt of New Shares was involuntary, without consideration and in accordance with the Plan approved by the Bankruptcy Court.
F4Pursuant to the Plan, the Reporting Person received 3.529412 warrants for each New Common Share. The warrants may be exercised any time prior to the expiration date, unless terminated earlier by their terms upon the consummation of certain business combinations or sale transactions involving the issuer. The receipt of the warrants was involuntary and without consideration.