SEC Form 4 · accession 0001140361-17-046599
GOODRICH PETROLEUM CORP · GDP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael J Killelea
Officer — EVP, Gen. Counsel, Corp. Sec'y
Period of report
Dec 14, 2017
Accepted (ET)
Dec 18, 2017 · 7:34 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000943861
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF1,F2 | — | Dec 14, 2017 | A | 30,199 | A | — | — | Common Stock | 30,199 | 30,199 | D |
| Performance Share UnitF1,F3 | — | Dec 14, 2017 | A | 30,199 | A | — | — | Common Stock | 30,199 | 30,199 | D |
Explanation of responses
- F1Each share of phantom stock is the economic equivalent of one share of GDP common stock.
- F2The phantom stock vests in increments of one-third beginning December 14, 2018 for each of the next three years. Thus the reporting person will receive 10,066 shares of common stock of the issuer (or cash equal to the value of the common stock on the settlement dates, in the sole discretion of the issuer) on each of December 14, 2018, and 2019 and 10,067 shares of common stock of the issuer (or cash equal to the value of the common stock on the settlement dates, in the sole discretion of the issuer) on December 14, 2020, as long as the reporting person remains affiliated with the company.
- F3Each performance share unit represents a contingent right to receive one share of common stock. The number of performance share units that will vest on December 14, 2020 can range from 0% to 200% of the units granted based upon the issuer's total shareholder return measured against an industry peer group over a three year period.