SEC Form 4 · accession 0000928022-18-000060
CALLON PETROLEUM CO · CPE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph C. Gatto Jr.
Officer — President and CEO · Director
Period of report
May 10, 2018
Accepted (ET)
May 14, 2018 · 8:53 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 | holding | — | — | — | 149,382 | D | ||
| Common Stock | holding | — | — | — | 21,485 | I | 401(k) Account |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2018 RSU - StockF1,F2,F3 | — | May 10, 2018 | A | 110,169 | A | — | — | Common Stock | 110,169 | 110,169 | D |
| 2018 Performance Based Units - 50% Stock/50% CashF4,F5 | — | May 10, 2018 | A | 165,254 | A | Dec 31, 2020 | Dec 31, 2020 | Common Stock | 165,254 | 165,254 | D |
Explanation of responses
- F1On May 10, 2018, the reporting person was granted 110,169 restricted stock units with one-third vesting each year.
- F2Restricted stock units convert into common stock on a one-for-one basis.
- F3The award terms specify three-year ratable vesting with one-third vesting each year subsequent to the award year. The first tranche will vest on June 1, 2019. The second tranche will vest on June 1, 2020. The third and final tranche will vest on June 1, 2021.
- F4This 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 as little as 0% to as much as 200%. The award terms also specify that upon vesting 50% of the vested units will be payable in common stock and 50% will be payable in cash.
- F5Each unit is the economic equivalent of one share of the company's common stock.