Tracy W. Krohn - Jan 1, 2023 Form 4 Insider Report for W&T OFFSHORE INC (WTI)

Role
Chairman, CEO & President, Director, 10%+ Owner
Signature
/s/ Jonathan Curth, as attorney-in-fact
Stock symbol
WTI
Transactions as of
Jan 1, 2023
Transactions value $
-$202,486
Form type
4
Date filed
1/4/2023, 05:56 PM
Previous filing
May 31, 2022
Next filing
Jun 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WTI Common Stock Options Exercise +73.9K +28.48% 333K Jan 1, 2023 Direct F1, F2, F4
transaction WTI Common Stock Tax liability -$99.1K -19.6K -5.88% $5.06 314K Jan 1, 2023 Direct
transaction WTI Common Stock Options Exercise +83.9K +26.74% 398K Jan 1, 2023 Direct F2, F3
transaction WTI Common Stock Tax liability -$103K -20.4K -5.14% $5.06 377K Jan 1, 2023 Direct
holding WTI Common Stock 47.7M Jan 1, 2023 By Trusts F4, F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction WTI Restricted Stock Units Options Exercise $0 -73.9K -50% $0.00 73.9K Jan 1, 2023 Common Stock 73.9K Direct F1, F2
transaction WTI Restricted Stock Units Options Exercise $0 -83.9K -33.33% $0.00 168K Jan 1, 2023 Common Stock 83.9K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On January 1, 2023, reporting person's 73,863 restricted stock units, which were granted on June 28, 2021, vested, and the reporting person received 73,863 shares of common stock. This represents the vesting of the second tranche of the grant.
F2 Each restricted stock unit represents a contingent right to receive one share of common stock or its cash equivalent, as determined at the time of settlement by WTI. Each grant of restricted stock units vests in three installments.
F3 On January 1, 2023, reporting person's 83,874 restricted stock units, which were granted on May 26, 2022, vested, and the reporting person received 83,874 shares of common stock. This represents the vesting of the first tranche of the grant.
F4 47,746,394 shares of common stock held by trusts of which the reporting person is the beneficiary and trustee were previously reported as being directly held.
F5 Includes shares held by the Tracy William Krohn Living Trust, the Tracy William Krohn 2008 JFF Trust and the Tracy William Krohn Exempt AKF Descendant's Trust. The reporting person is the beneficiary and trustee and exercises sole voting and dispositive power over the shares held by these trusts.

Remarks:

Exhibit 24 - Power of Attorney