Carina L. Gillenwater - Feb 23, 2024 Form 4 Insider Report for SOUTHWESTERN ENERGY CO (SWN)

Signature
/s/ Erik Norris, attorney-in-fact for Ms. Gillenwater
Stock symbol
SWN
Transactions as of
Feb 23, 2024
Transactions value $
-$46,036
Form type
4
Date filed
2/27/2024, 04:29 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 Options Exercise $0 +14.8K +10.95% $0.00 150K Feb 23, 2024 Direct F1
transaction SWN Common Stock Tax liability -$25K -3.62K -2.4% $6.91 147K Feb 23, 2024 Direct F2
transaction SWN Common Stock Options Exercise $0 +12.5K +8.49% $0.00 159K Feb 26, 2024 Direct F1
transaction SWN Common Stock Tax liability -$21.1K -3.03K -1.91% $6.94 156K Feb 26, 2024 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 Options Exercise $0 -14.8K -100% $0.00* 0 Feb 23, 2024 Common Stock 14.8K Direct F1, F3, F4
transaction SWN Restricted Stock Unit Options Exercise $0 -12.5K -100% $0.00* 0 Feb 26, 2024 Common Stock 12.5K Direct F1, F3, F5, 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 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.
F2 Represents net share settlement of common stock award to satisfy withholding taxes.
F3 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.
F4 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.
F5 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.
F6 Pursuant to the terms and conditions of the award agreement, 30,135 RSUs have been forfeited.