SEC Form 4 · accession 0000928022-17-000011
CALLON PETROLEUM CO · CPE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph C. Gatto Jr.
Officer — President / CFO / Treasurer
Period of report
Dec 31, 2016
Accepted (ET)
Jan 4, 2017 · 6:21 pm EST
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 StockF1 | Dec 31, 2016 | M | 72,290 | — | A | 181,047 | D | |
| Common Stock | Dec 31, 2016 | D | 72,290 | $15.37 | D | 108,757 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 Phantom Units - Performance BasedF2,F1 | — | Dec 31, 2016 | M | 36,145 | D | Dec 31, 2016 | Dec 31, 2016 | Common Stock | 36,145 | 0 | D |
Explanation of responses
- F1The terms of this Phantom Unit award specify payment in cash rather than in stock, and includes a provision providing for a variable percentage payout (ranging from 0% to 200%) based on a performance criteria related to the Total Shareholder Return of the Company compared to a group of peer companies. On the vesting date, the reporting person's Phantom Shares held vested at the 200% level. The amount payable was based on the economic value of one share of Callon Petroleum Company common stock, calculated using the closing price on the vesting date.
- F2This Phantom Share award is subject to vesting on December 31, 2016 and is payable in cash rather than stock. In addition, the award is subject to a variable percentage payout based on a performance criteria related to the total Shareholder Return of the Company compared to a group of peer companies. Therefore, this award can range from 0% to 200% of its original value at the vesting date.