Bryan Lemmerman - Feb 22, 2022 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: Feb 22, 2022
Transactions value $: $1,825,290
Form type: 4
Date filed: 2/24/2022, 03:41 PM
Previous filing: Aug 10, 2021
Next filing: Mar 11, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VTLE	Common Stock	Award	$860K	+12.8K	+21.46%	$67.02	72.6K	Feb 22, 2022	Direct	F1
transaction	VTLE	Common Stock	Award	$965K	+14.4K	+19.84%	$67.02	87K	Feb 22, 2022	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	VTLE	Performance Units	Award	$0	+12.8K		$0.00	12.8K	Feb 22, 2022	Performance Units	12.8K		Direct	F4
holding	VTLE	Performance Units						21.8K	Feb 22, 2022	Performance Units	21.8K		Direct	F3

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

Explanation of Responses:

Id	Content
F1	These restricted shares are granted under the Issuer's Omnibus Equity Incentive Plan and will vest in three equal annual installments beginning on the first anniversary date of the grant.
F2	These restricted shares are granted under the Issuer's Omnibus Equity Incentive Plan and will vest fully on the third anniversary after the date of the grant.
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, (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%.
F4	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, (iii) earnings before interest, taxes, depreciation, amortization and exploration expense divided by three-year total debt reduction, (iv) growth in inventory and (v) emissions reduction over a three-year performance period ending December 31, 2024. The final number of shares of common stock or cash earned is dependent on the performance of the stock price and the factors identified herein with the performance unit multiple having a range from 0% to 225%.