Tommye Karen Chandler - Aug 6, 2021 Form 4 Insider Report for Laredo Petroleum, Inc. (VTLE)

Role
Sr. V.P. & COO
Signature
/s/ Mark D. Denny as attorney-in-fact for Tommye Karen Chandler
Stock symbol
VTLE
Transactions as of
Aug 6, 2021
Transactions value $
-$729,537
Form type
4
Date filed
8/10/2021, 04:32 PM
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 -$730K -15K -21.87% $48.50 53.7K Aug 6, 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 13.9K Aug 6, 2021 Performance Units 13.9K Direct F2
holding VTLE Performance Units 32K Aug 6, 2021 Performance Units 32K Direct F3
holding VTLE Performance Units 27.5K Aug 6, 2021 Performance Units 27.5K Direct F4
holding VTLE Stock Option (Right to buy) 821 Aug 6, 2021 Common Stock 821 $346.80 Direct F5
holding VTLE Stock Option (Right to buy) 794 Aug 6, 2021 Common Stock 794 $282.40 Direct F5
* 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. Each performance unit represents a share of common stock. The performance units will be payable, if at all, in common stock, cash, or a combination of common stock and cash, to be determined in the discretion of the Issuer's Compensation Committee, based upon (i) the Issuer's total shareholder return measured against an industry peer group, (ii) on an absolute share return basis and (iii) based on a return on average capital employed metric, over a three-year performance period ending December 31, 2021. The final number of shares of common stock earned can range from 0% to 200% of the performance units.
F3 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 and (iii) based on a return on average capital employed metric, over a three-year performance period ending December 31, 2022. 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 200%.
F4 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%.
F5 This stock option was granted under the Issuer's Omnibus Equity Incentive Plan and is exercisable as to 25% on each of the first four anniversaries of the date of the grant.