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*
KERLEY GREGORY D

(Last) (First) (Middle)
2350 N. SAM HOUSTON PKWY EAST
SUITE 125

(Street)
HOUSTON TX 77032

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SOUTHWESTERN ENERGY CO [ SWN ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Executive Vice President & CFO
3. Date of Earliest Transaction (Month/Day/Year)
12/11/2007
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 12/11/2007 S 2,200 D $53.92 891,109 D
Common Stock 12/11/2007 S 100 D $53.925 891,009 D
Common Stock 12/11/2007 S 1,300 D $53.93 889,709 D
Common Stock 12/11/2007 S 700 D $53.94 889,009 D
Common Stock 12/11/2007 S 1,100 D $53.95 887,909 D
Common Stock 12/11/2007 S 800 D $53.96 887,109 D
Common Stock 12/11/2007 S 600 D $53.97 886,509 D
Common Stock 12/11/2007 S 100 D $53.975 886,409 D
Common Stock 12/11/2007 S 100 D $53.98 886,309 D
Common Stock 12/11/2007 S 900 D $53.99 885,409 D
Common Stock 12/11/2007 S 4,100 D $54 881,309 D
Common Stock 12/11/2007 S 1,100 D $54.01 880,209 D
Common Stock 12/11/2007 S 1,600 D $54.02 878,609 D
Common Stock 12/11/2007 S 700 D $54.03 877,909 D
Common Stock 12/11/2007 S 100 D $54.035 877,809 D
Common Stock 12/11/2007 S 1,000 D $54.04 876,809 D
Common Stock 12/11/2007 S 800 D $54.05 876,009 D
Common Stock 12/11/2007 S 100 D $54.055 875,909 D
Common Stock 12/11/2007 S 1,600 D $54.06 874,309 D
Common Stock 12/11/2007 S 200 D $54.065 874,109 D
Common Stock 12/11/2007 S 2,700 D $54.07 871,409 D
Common Stock 12/11/2007 S 100 D $54.075 871,309 D
Common Stock 12/11/2007 S 3,100 D $54.08 868,209 D
Common Stock 12/11/2007 S 1,800 D $54.09 866,409 D
Common Stock 12/11/2007 S 1,300 D $54.1 865,109 D
Common Stock 12/11/2007 S 100 D $54.105 865,009 D
Common Stock 12/11/2007 S 4,000 D $54.11 861,009 D
Common Stock 12/12/2007 J(1) 114.3716 A $42.5169 12,411.4809 I By 401(k) plan
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
Phantom Stock (2) (3) (3) Common Stock 25,794.8632 25,794.8632(4) D
Stock Options (Right to buy) $1.8594 12/14/2001 12/14/2010 Common Stock 77,992 77,992 D
Stock Options (Right to buy) $2.865 12/11/2003 12/11/2012 Common Stock 76,040 76,040 D
Stock Options (Right to buy) $5.285 12/10/2004 12/10/2013 Common Stock 108,359 108,359 D
Stock Options (Right to buy) $12.45 12/09/2005 12/09/2011 Common Stock 59,360 59,360 D
Stock Options (Right to buy) $35.49 12/08/2006 12/08/2012 Common Stock 23,710 23,710 D
Stock Options (Right to buy) $40.67 12/11/2007 12/11/2013 Common Stock 21,850 21,850 D
Explanation of Responses:
1. Purchased through the Company's 401(k) plan from June 15, 2007, through December 12, 2007. The information in this report is based on a plan statement dated as of November 30, 2007.
2. Each share of phantom stock represents the right to receive the economic equivalent of one share of Southwestern Energy Company common stock.
3. Shares of phantom stock are payable in cash following termination of the reporting person's employment with Southwestern Energy Company. The reporting person may transfer his phantom stock account into an alternative investment account at any time.
4. The common stock held in the Southwestern Energy Company Nonqualified Retirement Plan (the "NQ Plan") investment fund was previously reported in Table 1 as a non-derivative security indirectly owned by the reporting person. Prospectively, the balance of common stock held in the NQ Plan investment fund on behalf of the insider will be reported under Table II as phantom stock.
Melissa D. McCarty, Attorney-in-Fact 12/12/2007
** 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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