Silver Point Capital L.P. - Jul 21, 2021 Form 4 Insider Report for GULFPORT ENERGY CORP (GPOR)

Signature
/s/ Steven Weiser, Authorized Signatory on behalf of Silver Point Capital, L.P.
Stock symbol
GPOR
Transactions as of
Jul 21, 2021
Transactions value $
$0
Form type
4
Date filed
7/23/2021, 06:18 PM
Previous filing
Jun 21, 2021
Next filing
Jul 29, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GPOR Common Stock Award $0 +8.51K $0.00 8.51K Jul 21, 2021 See footnotes F1
holding GPOR Common Stock 9.01M Jul 21, 2021 Direct F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a grant of 8,507 time based restricted shares to David Reganato, a director of the issuer and employee of Silver Point Capital, L.P. ("Silver Point"), that was awarded pursuant to issuer's 2021 Stock Incentive Plan. These restricted shares will vest ratably over a four year period on each anniversary of the date of grant. Mr. Reganato has an understanding with Silver Point pursuant to which he holds shares for the benefit of Silver Point and certain of its affiliates. Accordingly, Mr. Reganato disclaims beneficial ownership of the shares except to the extent of his pecuniary interst therein.
F2 Includes (i) up to 536,203 shares of the Issuer's common stock that may be distributed to the Reporting Persons upon satisfaction of certain unsecured creditors' claims in the Issuer (Docket Nos. 1291, 1294 and 1295 of In re Gulfport Energy Corporation, Chapter 11 Case No. 20-35562, filed in the United States Bankruptcy Court for the Southern District of Texas, Houston Division), and (ii) up to 368,714 shares of the Issuer's common stock that may be distributed to the Reporting Persons as holders of claims relating to certain notes of the Issuer, which shares have been held in reserve and are contingent upon the resolution of certain legal proceedings.
F3 Silver Point Capital, L.P. ("Silver Point") or its wholly owned subsidiaries are the investment managers of Silver Point Capital Fund, L.P., Silver Point Capital Offshore Master Fund, L.P., Silver Point Distressed Opportunities Fund, L.P., Silver Point Distressed Opportunities Offshore Master Fund, L.P., Silver Point Distressed Opportunity Institutional Partners, L.P. and Silver Point Distressed Opportunity Institutional Partners Master Fund (Offshore), L.P. (the "Funds") and, by reason of such status, may be deemed to be the beneficial owner of all of the reported securities held by the Funds. Silver Point Capital Management, LLC ("Management") is the general partner of Silver Point and as result may be deemed to be the beneficial owner of all securities held by the Funds. [cont.]
F4 Messrs. Edward A. Mule and Robert J. O'Shea are each members of Management and as a result may be deemed to be the beneficial owner of all of the securities held by the Funds. Silver Point, Management and Messrs. Mule and O'Shea disclaim beneficial ownership of the reported securities held by Funds except to the extent of their pecuniary interests.