FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Oasis Petroleum Inc. [ OAS ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 01/18/2021 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock(1) | 01/18/2021 | A | 27,632 | A | (1) | 27,632 | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Performance Share Units | (2) | 01/18/2021 | A | 21,864 | (2) | (2) | Common Stock | (2) | $0.00 | 21,864 | D | ||||
Performance Share Units | (3) | 01/18/2021 | A | 21,864 | (3) | (3) | Common Stock | (3) | $0.00 | 43,728 | D |
Explanation of Responses: |
1. The Reporting Person was granted 27,632 Restricted Stock Units by the Issuer as compensation pursuant to the Issuer's 2020 Long Term Incentive Plan (the "2020 LTIP"). Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's common stock, par value $0.01 per share ("Common Stock"). |
2. Each Performance Share Unit represents a contingent right to receive a number of shares of Common Stock, ranging from zero to 300% of the target number of shares of Common Stock shown in Table II, depending on the Company's total shareholder return ("TSR") over a three-year measurement period beginning on January 15, 2021. For example, at the measurement dates in the last 12 months of the measurement period, TSR must increase at least (i) 145% to achieve the maximum 300% of target, (ii) 85% to achieve 200% of target, (iii) 25% to achieve 100% of target. However, if at least a 25% increase is not achieved on the measurement dates in the last 12 months of the three-year measurement period, no shares of Common Stock are earned. These Performance Share Units were granted as compensation under the 2020 LTIP. |
3. Each Performance Share Unit represents a contingent right to receive a number of shares of Common Stock, ranging from zero to 300% of the target number of shares of Common Stock shown in Table II, depending on the Company's TSR over a four-year measurement period beginning on January 15, 2021. For example, at the measurement dates in the last 12 months of the measurement period, TSR must increase by at least (i) 145% to achieve the maximum 300% of target, (ii) 85% to achieve 200% of target, (iii) 25% to achieve 100% of target. However, if at least 25% increase is not achieved on the measurement dates in the last 12 months of the four-year measurement period, no shares of Common Stock are earned. These Performance Share Units were granted as compensation under the 2020 LTIP. |
Remarks: |
/s/ Nickolas J. Lorentzatos, as attorney-in-fact | 01/20/2021 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |