Bryan Lemmerman - Aug 6, 2021 Form 4 Insider Report for Laredo Petroleum, Inc. (VTLE)

Role: Sr VP & CFO
Signature: /s/ Mark D. Denny as attorney-in-fact for Bryan J. Lemmerman
Stock symbol: VTLE
Transactions as of: Aug 6, 2021
Transactions value $: -$488,563
Form type: 4
Date filed: 8/10/2021, 04:31 PM
Previous filing: Jul 6, 2021
Next filing: Feb 24, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VTLE	Common Stock	Sale	-$262K	-5.43K	-7.73%	$48.27	64.8K	Aug 6, 2021	Direct	F1
transaction	VTLE	Common Stock	Sale	-$227K	-5K	-7.72%	$45.33	59.8K	Aug 9, 2021	Direct	F1

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
holding	VTLE	Performance Units						21.8K	Aug 6, 2021	Performance Units	21.8K		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is an average weighted price. The reporting person undertakes to provide Laredo Petroleum, Inc. ("Laredo"), any security holder of Laredo, or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
F2	These performance units are granted under the Issuer's Omnibus Equity Incentive Plan. The performance units will be payable, if at all, in cash based upon (i) the Issuer's total shareholder return measured against an industry peer group, (ii) on an absolute share return basis, (iii) earnings before interest, taxes, depreciation, amortization and exploration expense divided by three-year total debt reduction and (iv) growth in inventory, over a three-year performance period ending December 31, 2023. The final amount of cash earned is dependent on the performance of the stock price and the factors identified herein with the performance unit multiple having a range of 0% to 225%.

Content

The price reported in Column 4 is an average weighted price. The reporting person undertakes to provide Laredo Petroleum, Inc. ("Laredo"), any security holder of Laredo, or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.

These performance units are granted under the Issuer's Omnibus Equity Incentive Plan. The performance units will be payable, if at all, in cash based upon (i) the Issuer's total shareholder return measured against an industry peer group, (ii) on an absolute share return basis, (iii) earnings before interest, taxes, depreciation, amortization and exploration expense divided by three-year total debt reduction and (iv) growth in inventory, over a three-year performance period ending December 31, 2023. The final amount of cash earned is dependent on the performance of the stock price and the factors identified herein with the performance unit multiple having a range of 0% to 225%.