0001209191-11-038223.txt : 20110706 0001209191-11-038223.hdr.sgml : 20110706 20110706142920 ACCESSION NUMBER: 0001209191-11-038223 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110701 FILED AS OF DATE: 20110706 DATE AS OF CHANGE: 20110706 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: WEST J ROBINSON CENTRAL INDEX KEY: 0001227684 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-05507 FILM NUMBER: 11952808 MAIL ADDRESS: STREET 1: C/O KEY ENERGY SERVICES, INC. STREET 2: 1301 MCKINNEY STREET, SUITE 1800 CITY: HOUSTON STATE: TX ZIP: 77010 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: MAGELLAN PETROLEUM CORP /DE/ CENTRAL INDEX KEY: 0000061398 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 060842255 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 BUSINESS ADDRESS: STREET 1: 10 COLUMBUS BLVD STREET 2: 10 FLOOR CITY: HARTFORD STATE: CT ZIP: 06106 BUSINESS PHONE: 8602932006 MAIL ADDRESS: STREET 1: 10 COLUMBUS BLVD STREET 2: 10 FLOOR CITY: HARTFORD STATE: CT ZIP: 06106 FORMER COMPANY: FORMER CONFORMED NAME: MAGELLAN PETROLEUM CORP PANAMA DATE OF NAME CHANGE: 19671130 4 1 c19659_4x0.xml MAIN DOCUMENT DESCRIPTION X0303 4 2011-07-01 0000061398 MAGELLAN PETROLEUM CORP /DE/ MPET 0001227684 WEST J ROBINSON 7 CUSTOM HOUSE STREET PORTLAND ME 04101 1 0 0 0 COMMON STOCK 2011-07-01 4 A 0 15000 0 A 155000 D Prior to July 1, 2011, the Company's non-employee director compensation policy ("Policy") provided for an annual stock award under Section 9 of the Company's 1998 Stock Incentive Plan ("Plan") with a value equal to $35,000 to be made to each non-employee director on either July 1, 2011 or the date of the annual shareholder meeting held during each Company fiscal year, subject to a cap of 15,000 shares (the difference in value between the shares and $35,000 to be in cash) ("Stock Award"). On July 1, 2011, the Company's Board of Directors ("Board"), upon recommendation of the Compensation, Nominating and Governance Committee ("Committee"), amended the Policy to provide for either a Stock Award or a $35,000 cash award to exercise previously issued Company stock options under the Plan ("Cash Award"). To the extent that a Cash Award is elected by a director, the director must exercise options which are at least equal to the value of shares that would have been received had the director elected to receive a Stock Award (rounded up to the nearest whole option). Any difference between this amount and $35,000 is paid in cash. On July 1, 2011, the Board, upon recommendation of the Committee, approved the granting of either a Stock Award or a Cash Award to each of the eligible non-employee directors. Mr. West elected to receive a Stock Award. The fair market value of a share of the Company's common stock on July 1, 2011, was $1.68, calculated in accordance with the Plan. Amount reported does not include beneficial ownership of the shares subject to stock options held by the reporting person which have been previously reported in Table II. /s/ J. Robinson West, by Edward B. Whittemore, attorney-in-fact 2011-07-06