SEC Form 4 · accession 0000928022-16-000169
CALLON PETROLEUM CO · CPE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gary Newberry
Officer — Senior VP - Operations
Period of report
May 13, 2016
Accepted (ET)
May 17, 2016 · 3:47 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000928022
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | May 15, 2016 | M | 40,095 | $0.00 | A | 221,993 | D | |
| Common Stock | May 15, 2016 | F | 16,820 | $10.81 | D | 205,173 | D | |
| Common StockF1 | May 15, 2016 | M | 7,075 | — | A | 212,248 | D | |
| Common Stock | May 15, 2016 | D | 7,075 | $10.90 | D | 205,173 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 RSU - StockF2 | $0.00 | May 15, 2016 | M | 40,095 | D | May 15, 2016 | May 15, 2016 | Common Stock | 40,095 | 0 | D |
| 2013 RSU - CashF2,F1 | — | May 15, 2016 | M | 7,075 | D | May 15, 2016 | May 15, 2016 | Common Stock | 7,075 | 0 | D |
| 2016 RSU - StockF2 | $0.00 | May 13, 2016 | A | 36,890 | A | May 13, 2019 | May 13, 2019 | Common Stock | 36,890 | 36,890 | D |
| 2016 Phantom UnitsF2,F3,F4 | — | May 13, 2016 | A | 6,510 | A | May 13, 2019 | May 13, 2019 | Common Stock | 6,510 | 6,510 | D |
| 2016 Performance Based Units - 50% Stock/50% CashF5,F2,F4 | — | May 13, 2016 | A | 65,100 | A | Dec 31, 2018 | Dec 31, 2018 | Common Stock | 65,100 | 65,100 | D |
Explanation of responses
- F1The terms of this Phantom Unit award specify payment in cash rather than in common shares. The value of each vested unit is equal to the average of the opening and closing price of the company's common stock on the vesting date.
- F2The award terms specify cliff vesting three years from the date of the award.
- F3The terms of this Phantom Unit award specify payment in cash rather than in common shares.
- F4Each share of phantom stock is the economic equivalent of one share of the company's common stock.
- F5This Performance Based Unit award is subject to a variable number of units vesting based on a performance criteria related to the total shareholder return of the company compared to a group of peer companies. The number of units subject to vest under this award can range from 0% to as much as 200%. The award terms also specify that upon vesting 50% of the vested units will be payable in common shares and 50% will be payable in cash.