Statement of Changes in Beneficial Ownership (4)
March 03 2017 - 3:18PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0287
Estimated average burden
hours per response...
0.5
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
McGraw Kyle A
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2. Issuer Name
and
Ticker or Trading Symbol
LEGACY RESERVES LP
[
LGCY
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__
X
__ Director
_____ 10% Owner
__
X
__ Officer (give title below)
_____ Other (specify below)
EVP and CDO
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(Last)
(First)
(Middle)
303 W. WALL STREET, SUITE 1800
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3. Date of Earliest Transaction
(MM/DD/YYYY)
3/1/2017
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(Street)
MIDLAND, TX 79701
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_
X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Table II - Derivative Securities Beneficially Owned (
e.g.
, puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code
(Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
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8. Price of Derivative Security
(Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Phantom Units
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(1)
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3/1/2017
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A
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55507
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(2)
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2/18/2020
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Units
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55507
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$0.00
(1)
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199600
(3)
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D
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Phantom Units
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(1)
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3/1/2017
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A
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222026
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(4)
(5)
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2/18/2020
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Units
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222026
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$0.00
(1)
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535070
(6)
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D
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Phantom Units
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(1)
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3/1/2017
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A
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111013
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(5)
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2/18/2020
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Units
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111013
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$0.00
(1)
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291013
(7)
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D
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Explanation of Responses:
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(
1)
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Each phantom unit represents the economic equivalent of a unit representing a limited partner interest in Legacy Reserves LP.
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(
2)
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The phantom units reported on this Form 4 are subject to vesting on February 18, 2020 and are payable in units.
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(
3)
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Includes the remaining 89,310 phantom units and 54,783 phantom units from the phantom units granted on February 24, 2015 and June 22, 2016, respectively, which are all payable in units.
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(
4)
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Represents maximum possible number of phantom units subject to cliff vesting after a three year period ending on February 18, 2020, or 200% of the target amount. The number of phantom units that vest on February 18, 2020 is subject to the achievement of certain objective, performance-based criteria during the three fiscal years prior to the vesting date. If none or only a portion of phantom units vest as a result of specified performance levels not being met, such number of phantom units that fail to vest will be forfeited.
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(
5)
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The phantom units reported on this Form 4 are subject to vesting on February 18, 2020 and are payable in cash.
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(
6)
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Includes the remaining 313,044 phantom units from the phantom units granted on June 22, 2016.
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(
7)
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Includes the remaining 180,000 phantom units from the phantom units granted on June 22, 2016.
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Remarks:
Director, Executive Vice President and Chief Development Officer of Legacy Reserves GP, LLC, the general partner of Legacy Reserves LP.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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McGraw Kyle A
303 W. WALL STREET, SUITE 1800
MIDLAND, TX 79701
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X
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EVP and CDO
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Signatures
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/s/ Kyle A. McGraw
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3/3/2017
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 4(b)(v).
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**
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See
18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient,
see
Instruction 6 for procedure.
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Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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