William J. Way - Feb 21, 2023 Form 4 Insider Report for SOUTHWESTERN ENERGY CO (SWN)

Role
President and CEO, Director
Signature
/s/ Sara Tate, attorney-in-fact for Mr. Way
Stock symbol
SWN
Transactions as of
Feb 21, 2023
Transactions value $
-$1,078,412
Form type
4
Date filed
2/28/2023, 03:06 PM
Previous filing
Feb 24, 2022
Next filing
Feb 24, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SWN Common Stock Options Exercise $0 +201K +7.15% $0.00 3.01M Feb 26, 2023 Direct F1
transaction SWN Common Stock Tax liability -$440K -79.1K -2.63% $5.56 2.93M Feb 26, 2023 Direct F2
transaction SWN Common Stock Options Exercise $0 +292K +9.96% $0.00 3.22M Feb 26, 2023 Direct F1
transaction SWN Common Stock Tax liability -$639K -115K -3.56% $5.56 3.11M Feb 26, 2023 Direct F2

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 SWN Restricted Stock Unit Award $0 +674K $0.00 674K Feb 21, 2023 Common Stock 674K Direct F3, F4
transaction SWN Restricted Stock Unit Options Exercise $0 -201K -100% $0.00* 0 Feb 26, 2023 Common Stock 201K Direct F3, F5
transaction SWN Restricted Stock Unit Options Exercise $0 -292K -23.36% $0.00 958K Feb 26, 2023 Common Stock 292K Direct F3, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit ("RSU") has the economic equivalent of one share of Southwestern Energy Company ("SWN") common stock. The RSUs vesting on February 26, 2023 were settled in stock based on the closing price of SWN common stock on February 24, 2023.
F2 Represents net share settlement of common stock award to satisfy withholding taxes.
F3 Each restricted stock unit represents a contingent right to receive one share of SWN common stock or an amount in cash equal to the Fair Market Value of one share of SWN common stock.
F4 On February 21, 2023, the reporting person was granted restricted stock units, vesting in three equal installments beginning on the first anniversary of the grant date, or immediately upon death, disability, retirement at age 65 with required years of service, or a change in control. Vesting units will be settled in shares of SWN common stock, cash, or a combination of shares of SWN common stock and cash.
F5 On February 26, 2019, the reporting person was granted restricted stock units, vesting in four equal installments beginning on the first anniversary of the grant date, or immediately upon death, disability, retirement at age 65 with the required years of service, or a change in control. Vesting RSUs will be settled in shares of SWN common stock, cash, or a combination of shares of SWN common stock and cash.
F6 On February 26, 2020, the reporting person was granted restricted stock units, vesting in four equal installments beginning on the first anniversary of the grant date , or immediately upon death, disability, retirement at age 65 with required years of service, or a change in control. Each restricted stock unit that vests will entitle the holder to receive, payable in common stock or cash at the Compensation Committee's option, a value based on an adjusted stock price, calculated as the sum of (1) the closing stock price on the date of grant and (2) 50 percent of the difference between (a) the closing stock price on the date of vesting and (b) the closing stock price on the date of grant. If paid in stock, in no event will the number of shares of common stock delivered to the Participant exceed the number of restricted stock units granted to the participant.