0001528129-22-000114.txt : 20220606 0001528129-22-000114.hdr.sgml : 20220606 20220606162244 ACCESSION NUMBER: 0001528129-22-000114 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220603 FILED AS OF DATE: 20220606 DATE AS OF CHANGE: 20220606 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: PIGOTT M. JASON CENTRAL INDEX KEY: 0001585031 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-35380 FILM NUMBER: 22998373 MAIL ADDRESS: STREET 1: 6100 N. WESTERN AVE. CITY: OKLAHOMA CITY STATE: OK ZIP: 73118 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Laredo Petroleum, Inc. CENTRAL INDEX KEY: 0001528129 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 453007926 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 15 W. SIXTH STREET STREET 2: SUITE 900 CITY: TULSA STATE: OK ZIP: 74119 BUSINESS PHONE: 918-513-4570 MAIL ADDRESS: STREET 1: 15 W. SIXTH STREET STREET 2: SUITE 900 CITY: TULSA STATE: OK ZIP: 74119 FORMER COMPANY: FORMER CONFORMED NAME: Laredo Petroleum Holdings, Inc. DATE OF NAME CHANGE: 20110816 4 1 wf-form4_165454694886839.xml FORM 4 X0306 4 2022-06-03 0 0001528129 Laredo Petroleum, Inc. LPI 0001585031 PIGOTT M. JASON 15 W. 6TH STREET, SUITE 900 TULSA OK 74119 1 1 0 0 President & CEO Common Stock 2022-06-03 4 F 0 6932 107.04 D 118157 D Common Stock 2022-06-03 4 M 0 0 0 A 118157 D Performance Units 2022-06-03 4 M 0 0 0 A 2022-06-03 Performance Units 0.0 0 D Performance Units 2023-03-05 Performance Units 55253.0 55253 D Performance Units 2024-03-09 Performance Units 49322.0 49322 D Performance Units 2025-02-22 Performance Units 28810.0 28810 D 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. These outperformance share units were granted under the Issuer's Omnibus Equity Incentive Plan as part of an offer of employment and were originally reported on a Form 4 filed by the Issuer on June 5, 2019. Each outperformance share unit represents a share of common stock. The outperformance share units became payable in common stock, based upon the Issuer's highest 50 consecutive trading day average closing stock price that occurred over a three-year performance period ending on June 3, 2022. The final number of shares of common stock earned had a range from 0 to 50,000 shares. Based on the actual performance criteria, 0 outperformance share units were issued, resulting in the issuance of 0 shares of common stock. 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%. 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%. 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%. /s/ Mark D. Denny, as attorney-in-fact for M. Jason Pigott 2022-06-06