Derek W. Cutright - Feb 23, 2024 Form 4 Insider Report for SOUTHWESTERN ENERGY CO (SWN)

Signature
/s/ Melissa D. McCarty, attorney-in-fact for Mr. Cutright
Stock symbol
SWN
Transactions as of
Feb 23, 2024
Transactions value $
-$76,728
Form type
4
Date filed
2/27/2024, 04:06 PM
Previous filing
Feb 23, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SWN Common Stock Other $8.37K +1.46K +12.21% $5.74 13.4K Feb 23, 2024 by 401(k) F1
transaction SWN Common Stock Options Exercise $0 +21.4K +10.49% $0.00 225K Feb 23, 2024 Direct F2
transaction SWN Common Stock Tax liability -$36K -5.21K -2.31% $6.91 220K Feb 23, 2024 Direct F3
transaction SWN Common Stock Options Exercise $0 +29.1K +13.21% $0.00 249K Feb 26, 2024 Direct F2
transaction SWN Common Stock Tax liability -$49.1K -7.08K -2.84% $6.94 242K Feb 26, 2024 Direct F3

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 Options Exercise $0 -21.4K -100% $0.00* 0 Feb 23, 2024 Common Stock 21.4K Direct F2, F4, F5
transaction SWN Restricted Stock Unit Options Exercise $0 -29.1K -100% $0.00* 0 Feb 26, 2024 Common Stock 29.1K Direct F2, F4, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Purchased through the Company's 401(k) Plan from February 28, 2023 thru February 23, 2024. The information in this report is based on a plan statement as of February 23, 2024.
F2 Each Restricted Stock Unit ("RSU") has the economic equivalent of one share of Southwestern Energy Company ("SWN") common stock. The RSUs vesting on February 23, 2024 and February 26, 2024 were settled in SWN common stock based on the closing price of SWN common stock on the vesting date.
F3 Represents net share settlement of common stock award to satisfy withholding taxes.
F4 Each RSU 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.
F5 On February 23, 2021, 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.
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.
F7 Pursuant to the terms and conditions of the award agreement, 70,317 RSUs have been forfeited.