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
SOUTHERN UNION CO [ SUG ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 05/31/2007 | ||||||||||||||||||||||||||
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 | 1,179(1) | D | ||||||||
Common Stock | 6,375.5355(2) | I | 401(k) Plan(2) | |||||||
Common Stock | 7,750.82 | I | Supplemental Deferred Compensation Plan(3) | |||||||
Common Stock | 05/31/2007 | M | 1,462 | A | $14.6521 | 2,298 | D | |||
Common Stock | 05/31/2007 | S | 1,462 | D | $35.0041 | 836 | 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 | ||||||||
Employee Stock Option (right to purchase) | $14.6521 | 05/31/2007 | M | 1,462 | (4) | 06/05/2011 | Common Stock | 2,298 | $35.0041 | 836 | D | ||||
Cash Restricted Units | (5) | (5) | (5) | Common Stock | 3,273 | 3,273 | D | ||||||||
Stock Appreciation Rights | $28.07 | (6) | 12/27/2016 | Common Stock | 10,392 | 10,392 | D | ||||||||
Employee Stock Option (right to purchase) | $16.8255 | (7) | 02/06/2014 | Common Stock | 6,616 | 6,616 | D | ||||||||
Employee Stock Option (right to purchase) | $24.0572 | (8) | 07/26/2015 | Common Stock | 1,024 | 1,024 | D |
Explanation of Responses: |
1. Restrictions expire on these shares in increments of 393 on July 26, 2007, July 26, 2008 and July 26, 2009. |
2. This information concerns shares held under the Issuer's 401(k) Plan. This report reflects shares purchased for the plan by the plan trustee, at the sole discretion of the trustee, at such prices as were available in the open market at the time of such purchases. Information reported herein is based on a plan statement for the period ended December 31, 2006. |
3. This information concerns shares held under the Issuer's Supplemental Deferred Compensation Plan. This report reflects shares purchased for the plan by the plan trustee, at the sole discretion of the trustee, at such prices as were available on the open market at the time of such purchases. Information reported herein is based on a plan statement for the period ended December 31, 2006. |
4. The Reporting Person became fully vested in these options on July 1, 2006. |
5. The cash restricted units awarded on December 28, 2006 (the "Grant Date") permit the recipient to receive, on predetermined dates upon expiration of applicable restrictions, cash in an amount equal to a specified number of shares of the Company's common stock valued at the closing prices of the Company's common stock on such dates. Restrictions on each award will expire in equal annual installments on the first, second and third anniversaries of the Grant Date. |
6. Stock appreciation rights will be settled in shares of common stock at an exercise price of $28.07 per share, which was equal to the closing price on the Grant Date. The award will vest in equal installments on the first, second and third anniversaries of the Grant Date. |
7. The Reporting Person became/will become fully vested in these options in increments of 1,654 on March 1, 2006, March 1, 2007, March 1, 2008 and March 1, 2009. |
8. The Reporting Person became/will become fully vested in these options in increments of 256 on July 26, 2006, July 26, 2007, July 26, 2008 and July 26, 2009. |
Remarks: |
Robert M. Kerrigan, III for Robert J. Hack | 06/04/2007 | |
** 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. |