Jessica R. Wren - 28 Feb 2022 Form 4 Insider Report for Laredo Petroleum, Inc. (VTLE)

Role: Principal Accounting Officer
Signature: /s/ Mark D. Denny, as attorney-in-fact for Jessica R. Wren
Issuer symbol: VTLE
Transactions as of: 28 Feb 2022
Net transactions value: -$27,806
Form type: 4
Filing time: 02 Mar 2022, 15:33:43 UTC
Previous filing: 24 Feb 2022
Next filing: 23 Aug 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VTLE	Common Stock	Options Exercise	$31,619	+413	+9.2%	$76.56	4,921	28 Feb 2022	Direct	F1
transaction	VTLE	Common Stock	Tax liability	$10,948	-143	-2.9%	$76.56	4,778	28 Feb 2022	Direct	F2
transaction	VTLE	Common Stock	Tax liability	$10,336	-135	-2.8%	$76.56	4,643	28 Feb 2022	Direct	F2
transaction	VTLE	Common Stock	Sale	$38,142	-489	-11%	$78.00	4,154	01 Mar 2022	Direct

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	Options Exercise	$0	+386		$0.000000^*	0	28 Feb 2022	Performance Units	386		Direct	F1
holding	VTLE	Stock Option (Right to buy)						126	28 Feb 2022	Common Stock	126	$346.80	Direct	F3

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

Explanation of Responses:

Id	Content
F1	These performance share units were granted under the Issuer's Omnibus Equity Incentive Plan and were originally reported on Form 3 by the issuer on June 23, 2020. Each performance share unit represents a share of common stock. The performance share units became payable in common stock, 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. Based on the actual performance criteria satisfied, 107% of the shares were issued, resulting in 413 shares of common stock.
F2	Represents shares of common stock withheld by the Issuer to satisfy tax withholding obligations of the Reporting Person in connection with the vesting of a portion of restricted shares and performance share units previously granted to the Reporting Person under the Issuer's Omnibus Equity Incentive Plan.
F3	This stock option is 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.