Lynn A. Peterson - 31 Jan 2022 Form 4 Insider Report for WHITING PETROLEUM CORP

Role: President & CEO, Director
Signature: /s /M. Scott Regan, Attorney-in-Fact for Peterson Lynn A
Issuer symbol: N/A
Transactions as of: 31 Jan 2022
Net transactions value: -$774,799
Form type: 4
Filing time: 02 Feb 2022, 16:22:39 UTC
Previous filing: 20 Jan 2022
Next filing: 04 Feb 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	WLLAW	Common Stock	Options Exercise		+23,625	+52%		69,389	31 Jan 2022	Direct	F1
transaction	WLLAW	Common Stock	Tax liability	$774,799	-10,435	-15%	$74.25	58,954	31 Jan 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	WLLAW	Performance Share Units (Absolute) 2022	Award	$0	+19,032		$0.000000	19,032	31 Jan 2022	Common Stock	19,032		Direct	F2
transaction	WLLAW	Performance Share Units (Relative) 2022	Award	$0	+19,032		$0.000000	19,032	31 Jan 2022	Common Stock	19,032		Direct	F3
transaction	WLLAW	Restricted Stock Units - VWAP	Options Exercise	$0	-23,625	-100%	$0.000000^*	0	31 Jan 2022	Common Stock	23,625		Direct	F1
transaction	WLLAW	Restricted Stock Units 2022	Award	$0	+16,313		$0.000000	16,313	31 Jan 2022	Common Stock	16,313		Direct	F4

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

Explanation of Responses:

Id	Content
F1	Represents conversion of restricted stock units under the Whiting Petroleum Corporation 2020 Equity Incentive Plan, each of which represents the right to receive one share of Whiting Petroleum Corporation common stock. Of the 94,500 RSUs granted in September 2020, 50% vested on March 19, 2021 as the volume weighted average price for Whiting Petroleum Corporation common stock ("VWAP") exceeded $32.57 per share for 20 consecutive trading days. An additional 23,625 RSUs, representing 25% of the total, vested on July 1, 2021 as the VWAP exceeded $48.86 per share for 20 consecutive trading days. The remaining 23,625 RSUs vested January 31, 2022 as the VWAP exceeded $65.14 per share for 20 consecutive trading days.
F2	Each absolute TSR performance share unit represents a contingent right to receive 0-200% of that number in shares of Company common stock. The amount reported represents the "target" number. The absolute TSR performance share units will vest upon continued employment and achievement of specified metrics as described in the related grant agreement.
F3	Each relative TSR performance share unit represents a contingent right to receive 0-200% of that number in shares of Company common stock. The amount reported represents the "target" number. The relative TSR performance share units will vest upon continued employment and achievement of specified metrics as described in the related grant agreement.
F4	Each restricted stock unit represents a right to receive one share of the Company's common stock. The restricted stock units will vest in approximately three equal annual installments beginning on the first anniversary of the grant date subject to continued employment.