SEC Form 4 · accession 0000928022-18-000048
CALLON PETROLEUM CO · CPE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John C Wallace
Director
Period of report
May 10, 2018
Accepted (ET)
May 14, 2018 · 8:38 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 10, 2018 | M | 11,120 | $0.00 | A | 11,120 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2017 RSU - StockF1,F2 | — | May 10, 2018 | M | 11,120 | D | — | — | Common Stock | 11,120 | 0 | D |
| 2016 RSU - StockF3,F1,F4 | — | May 10, 2018 | M | 8,219 | D | — | — | Phantom Stock Units Payable in Cash | 8,219 | 0 | D |
| Phantom Stock Units Payable in CashF5 | $0.00 | May 10, 2018 | M | 8,219 | A | — | — | Deferred Stock Units Payable in Cash | 8,219 | 111,609 | D |
| 2015 RSU - StockF3,F1,F6 | — | May 10, 2018 | M | 4,990 | D | — | — | Phantom Stock Units Payable in Cash | 4,990 | 0 | D |
| Phantom Stock Units Payable in CashF5 | $0.00 | May 10, 2018 | M | 4,990 | A | — | — | Deferred Stock Units Payable in Cash | 4,990 | 116,599 | D |
| Deferred Stock Units Payable in CashF7,F8 | — | May 10, 2018 | D | 116,599 | D | — | — | Cash | 116,599 | 0 | D |
Explanation of responses
- F1Restricted stock units convert into common stock on a one-for-one basis.
- F2On May 10, 2017, the reporting person was granted 11,120 restricted stock units with one-third vesting on each anniversary date following the grant date. The Compensation Committee accelerated the reporting person's vesting as of his retirement on May 10, 2018.
- F3These units/shares are subject to three-year ratable vesting with one-third vesting on each anniversary date following the grant date. The reporting person elected that upon vesting these restricted stock units convert into Phantom Stock Units Payable in Cash at retirement pursuant to Callon Petroleum Company's deferred compensation plan for outside directors.
- F4On May 12, 2016, the reporting person was granted 12,329 restricted stock units with one-third vesting on each anniversary date following the grant date. The Compensation Committee accelerated the reporting person's vesting as of his retirement on May 10, 2018.
- F5Phantom Stock Units Payable in Cash will be paid upon the Director's retirement from the company's Board of Directors pursuant to Callon Petroleum Company's deferred compensation plan for outside directors.
- F6On May 15, 2015, the reporting person was granted 14,970 restricted stock units with one-third vesting on each anniversary date following the grant date. The Compensation Committee accelerated the reporting person's vesting as of his retirement on May 10, 2018.
- F7Each Deferred Stock Unit Payable in Cash was the economic equivalent of the vesting closing price of one share of Callon Petroleum Company's common stock which was $14.16 on May 10, 2018.
- F8Deferred Stock Units Payable in Cash were paid in cash upon Mr. Wallace's retirement from the Board of Directors on May 10, 2018 pursuant to Callon Petroleum Company's deferred compensation plan for outside directors.