Vital Energy, Inc. — Director's Dealing 2021

Feb 18, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Laredo Petroleum, Inc. (LPI)
CIK: 0001528129
Period of Report: 2021-02-16

Reporting Person: Denny Mark David (SVP, Gen. Counsel & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-16	Common Stock	F	199	$37.93	Disposed	17391	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Performance Units	$		Common Stock (1176.0)	1176	Direct
Performance Units	$		Common Stock (3766.0)	3766	Direct
Performance Units	$		Common Stock (11878.0)	11878	Direct
Stock Option (Right to buy)	$82.0	2026-02-19	Common Stock (1338.0)	1338	Direct
Stock Option (Right to buy)	$282.4	2027-02-17	Common Stock (504.0)	504	Direct

Footnotes

F1: Represents shares of common stock withheld by the Issuer to satisfy tax withholding obligations of the Reporting Person in connection with the vesting of a portion of restricted shares previously granted to the Reporting Person under the Issuer's Omnibus Equity Incentive Plan. Share quantities were adjusted for the reverse stock split that became effective June 1, 2020.

F2: 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 shareholders return measured (i) 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. Share quantities were adjusted for the reverse stock split that became effective June 1, 2020.

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. Share quantities were adjusted for the reverse stock split that became effective June 1, 2020.

F4: These performance units are granted under the Issuer's Omnibus Equity Incentive Plan. The performance units will be payable, if at all, in cash 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, 2022. The final amount of cash earned is dependent on the performance of the stock price and the factors identified herein with the performance unit multiple having a range of 0% to 200%. Share quantities were adjusted for the reverse stock split that became effective June 1, 2020.

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. Applicable prices and share quantities were adjusted for the reverse stock split that became effective June 1, 2020.