Bryan Lemmerman - Mar 9, 2022 Form 4 Insider Report for Laredo Petroleum, Inc. (VTLE)

Signature
/s/ Mark D. Denny as attorney-in-fact for Bryan J. Lemmerman
Stock symbol
VTLE
Transactions as of
Mar 9, 2022
Transactions value $
-$545,242
Form type
4
Date filed
3/11/2022, 03:26 PM
Previous filing
Feb 24, 2022
Next filing
Jul 6, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VTLE Common Stock Tax liability -$190K -2.52K -2.9% $75.46 84.5K Mar 9, 2022 Direct F1
transaction VTLE Common Stock Sale -$34.7K -461 -0.55% $75.22 84K Mar 10, 2022 Direct F2, F3
transaction VTLE Common Stock Sale -$233K -3.06K -3.64% $76.13 81K Mar 10, 2022 Direct F2, F3
transaction VTLE Common Stock Sale -$87.4K -1.14K -1.4% $76.98 79.8K Mar 10, 2022 Direct F2, F3

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 Mar 9, 2022 Performance Units 21.8K Direct F4
holding VTLE Performance Units 12.8K Mar 9, 2022 Performance Units 12.8K Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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 previously granted to the Reporting Person under the Issuer's Omnibus Equity Incentive Plan.
F2 Shares sold pursuant to a Rule 10b5-1 trading plan.
F3 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.
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 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%.