Vital Energy, Inc. — Director's Dealing 2019

Mar 4, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Laredo Petroleum, Inc. (LPI)
CIK: 0001528129
Period of Report: 2019-02-28

Reporting Person: Foutch Randy A (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-02-28	Common Stock	A	348493	$3.43	Acquired	1515832	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-02-28	Performance Units	$	A	348493	Acquired		Common Stock (348493.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	451340	Indirect
Common Stock	90037	Indirect
Common Stock	90037	Indirect
Common Stock	90037	Indirect
Common Stock	90037	Indirect
Common Stock	500	Indirect
Common Stock	46838	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Performance Units	$		Common Stock (348213.0)	348213	Direct
Stock Option (Right to buy)	$14.12	2027-02-17	Common Stock (119826.0)	119826	Direct
Performance Units	$		Common Stock (158434.0)	158434	Direct
Stock Option (Right to buy)	$4.1	2026-02-19	Common Stock (310111.0)	310111	Direct
Stock Option (Right to buy)	$11.93	2025-02-27	Common Stock (167904.0)	167904	Direct
Stock Option (Right to buy)	$25.6	2024-02-27	Common Stock (96040.0)	96040	Direct
Stock Option (Right to buy)	$17.34	2023-02-15	Common Stock (128709.0)	128709	Direct
Stock Option (Right to buy)	$24.11	2022-02-03	Common Stock (62868.0)	62868	Direct

Footnotes

F1: These restricted shares are granted under the Issuer's Omnibus Equity Incentive Plan and will vest in three equal annual installments beginning on the first anniversary date of the grant.

F2: By reason of the provisions of Rule 16a-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), Mr. Foutch may be deemed to be a beneficial owner of the 406,986 shares of common stock of the Issuer held by the Foutch Family Trusts and the Jeanine Marie Foutch Revocable Trust, the 500 shares of common stock of the Issuer held by his daughter and the 451,340 shares of common stock held by Lariat Ranch LLC. Pursuant to Rule 16a-1(a)(4) of the Exchange Act, Mr. Foutch herein states that this Form 4 shall not be deemed an admission that he is the beneficial owner of such shares of common stock. Mr. Foutch disclaims beneficial ownership of the common stock of the Issuer, except to the extent that he has a pecuniary interest in such shares of common stock.

F3: These performance share units are granted under the Issuer's Omnibus Equity Incentive Plan. Each performance share unit represents a share of common stock. The performance share 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 and (iii) based on a return on average capital employed metric, over a three-year performance period ending December 31, 2021. The final number of shares of common stock granted can range from 0% to 200% of the performance share units.

F4: These performance share units are granted under the Issuer's Omnibus Equity Incentive Plan. Each performance share unit represents a share of common stock. The performance share units will be payable, if at all, in common stock, 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, 2020. The final number of shares of common stock granted can range from 0% to 200% of the performance share units.

F5: This stock option was granted under the Issuer's Omnibus Equity Incentive Plan and is exercisable as to 25% on each of the first four anniversaries of the date of the grant.

F6: These performance share units are granted under the Issuer's Omnibus Equity Incentive Plan. Each performance share unit represents a share of common stock. The performance share units will be payable, if at all, in common stock, based upon the Issuer's total shareholder return measured against an industry peer group, over a three-year performance period ending December 31, 2019. The final number of shares of common stock granted can range from 0% to 200% of the performance share units.