Bristow Group Inc. — Director's Dealing 2014

Mar 21, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ERA GROUP INC. (ERA)
CIK: 0001525221
Period of Report: 2014-03-19

Reporting Person: Gustafson Sten L. (Director, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-19	Common Stock	A	75000	—	Acquired	76026.1512	Direct
2014-03-19	Common Stock	A	16000	—	Acquired	92026.1512	Direct
2014-03-20	Common Stock	S	7084	$28.99	Disposed	84942.1512	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-19	Stock Options (right to buy)	$29.24	A	20000	Acquired	2024-03-19	Common Stock (20000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	600	Indirect

Footnotes

F1: On March 19, 2013, the reporting person was granted 75,000 shares of restricted stock subject to performance conditions (which have been satisfied). The shares vest in equal portions on March 19, 2014, 2015, 2016 and 2017.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.82 to $29.16, inclusive. The reporting person undertakes to provide to Era Group Inc., any security holder of Era Group Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4.

F3: These options become exercisable in four equal annual installments beginning on the first anniversary of the grant date.