Mark D. Denny - Apr 1, 2022 Form 4 Insider Report for Laredo Petroleum, Inc. (VTLE)

Role
SVP, Gen. Counsel & Secretary
Signature
/s/ Mark D. Denny
Stock symbol
VTLE
Transactions as of
Apr 1, 2022
Transactions value $
-$207,244
Form type
4
Date filed
4/4/2022, 04:15 PM
Previous filing
Mar 11, 2022
Next filing
May 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VTLE Common Stock Sale -$207K -2.63K -9.94% $78.92 23.8K Apr 1, 2022 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 11.9K Apr 1, 2022 Performance Units 11.9K Direct F2
holding VTLE Performance Units 11.4K Apr 1, 2022 Performance Units 11.4K Direct F3
holding VTLE Performance Units 6.76K Apr 1, 2022 Performance Units 6.76K Direct F4
holding VTLE Stock Option (Right to buy) 1.34K Apr 1, 2022 Common Stock 1.34K $82.00 Direct F5
holding VTLE Stock Option (Right to buy) 504 Apr 1, 2022 Common Stock 504 $282.40 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares sold pursuant to a Rule 10b5-1 trading plan.
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 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%.
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%.
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.