SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
WHITING RICHARD M

(Last) (First) (Middle)
C/O PATRIOT COAL CORPORATION
12312 OLIVE BOULEVARD, SUITE 400

(Street)
ST. LOUIS MO 63141

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Patriot Coal CORP [ PCX ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
President and CEO
3. Date of Earliest Transaction (Month/Day/Year)
01/03/2012
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock(1) 01/03/2012 A 73,476(1) A $0.00 146,241 D
Common Stock 60,800 I By Family Limited Partnership
Common Stock 141,803 I By Family Trust
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Options(2) $9.13 01/03/2012 A 146,952 (2) (2) Common Stock 146,952 $0.00 146,952(3) D
Restricted Stock Options(4)(5) (4)(5) 01/03/2012 A 95,382 (4)(5) (4)(5) Common Stock 95,382 $0.00 95,382(6) D
Explanation of Responses:
1. The reporting person has received an award of restricted stock under the Patriot Coal Corporation (the "Company") 2007 Long-Term Equity Incentive Plan, as amended (the "Plan"). The restricted stock will ratably vest in annual installments over a period of three years following the grant date, i.e., 33.33% of the award will be vested on the first anniversary of the grant date, 66.66% of the award will be vested on the second anniversary and 100% of the award will be vested on the third anniversary. The restricted stock will become fully vested if the reporting person terminates employment with the Company because of death or disability or if a change in control occurs. In the event that the reporting person's employment is terminated without cause or by the reporting person for good reason, the restricted stock will immediately vest with respect to the percentage of shares of common stock of the Company that would have otherwise vested on the next vesting date.
2. The reporting person has received an award of non-qualified stock options under the Plan. The stock options will ratably vest in annual installments over a period of three years following the grant date, i.e., 33.33% of the award will be vested on the first anniversary of the grant date, 66.66% of the award will be vested on the second anniversary and 100% of the award will be vested on the third anniversary. The non-qualified stock options will become fully vested if the reporting person terminates employment with the Company because of death or disability or if a change in control occurs. In the event that the reporting person's employment is terminated without cause or by the reporting person for good reason, the non-qualified stock options will immediately vest with respect to the percentage of underlying shares of common stock of the Company that would have otherwise vested on the next vesting date. No stock options can be exercised more than ten years after the grant date.
3. Does not included non-qualified stock options with different terms and/or vesting dates.
4. The reporting person has received an award of performance-based restricted stock units (the "RSUs") under the Plan. Subject to satisfaction of certain performance-based parameters tied to total shareholder return ("TSR") relative to a peer group as described in the award agreement, the issuance of shares underlying the RSUs will be made no later than January 15, 2015, based on a performance period ending December 31, 2014, or earlier if the reporting person terminates employment with the Company because of death or disability or if a change in control occurs. The number of shares reported represents the number of shares that will be issued if TSR target performance is satisfied.
5. All unvested RSUs will be forfeited if the reporting person terminates employment with the Company for any reason other than death or disability, provided, however, that in the event that the reporting person's employment is terminated without cause or by the reporting person for good reason, a pro rata portion of the RSUs will vest.
6. Does not include RSUs with different terms and/or vesting dates.
Remarks:
/s/ Jacquelyn A. Jones, Attorney-In-Fact for Richard M. Whiting 01/05/2012
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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