0001209191-11-038360.txt : 20110706
0001209191-11-038360.hdr.sgml : 20110706
20110706165207
ACCESSION NUMBER: 0001209191-11-038360
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: wilson j thomas
CENTRAL INDEX KEY: 0001468752
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-05507
FILM NUMBER: 11953868
MAIL ADDRESS:
STREET 1: 720 EMERSON STREET
CITY: DENVER
STATE: CO
ZIP: 80218
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
c19655_4x0.xml
MAIN DOCUMENT DESCRIPTION
X0303
4
2011-07-01
0000061398
MAGELLAN PETROLEUM CORP /DE/
MPET
0001468752
wilson j thomas
720 EMERSON STREET
DENVER
CO
80218
1
0
0
0
Common Stock
2011-07-01
4
A
0
15000
0
A
202000
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. Wilson 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/ Thomas J. Wilson, by Edward B. Whittemore, attorney-in-fact
2011-07-06