X0303 4 2008-12-11 0000007332 SOUTHWESTERN ENERGY CO SWN 0001103813 KERLEY GREGORY D SUITE 125 2350 N. SAM HOUSTON PARKWAY EAST HOUSTON TX 77032 1 Executive Vice President & CFO Common Stock 2008-12-11 4 A 0 9530 0 A 1124436 D Common Stock 24994.2788 I By 401(k) Plan Stock Options (Right to Buy) 30.68 2008-12-11 4 A 0 31610 0 A 2009-12-11 2015-12-11 Common Stock 31610 31610 D Phantom Stock Common Stock 51589.7264 51589.7264 D Stock Options (Right to Buy) .93 2001-12-14 2010-12-14 Common Stock 155984 155984 D Stock Options (Right to Buy) 1.435 2003-12-11 2012-12-11 Common Stock 152076 152076 D Stock Options (Right to Buy) 2.645 2004-12-10 2013-12-10 Common Stock 216718 216718 D Stock Options (Right to Buy) 6.225 2005-12-09 2011-12-09 Common Stock 102656 102656 D Stock Options (Right to Buy) 17.745 2006-12-08 2012-12-08 Common Stock 47420 47420 D Stock Options (Right to Buy) 20.335 2007-12-11 2013-12-11 Common Stock 43700 43700 D Stock Options (Right to Buy) 27.18 2008-12-13 2014-12-13 Common Stock 43880 43880 D Restricted stock and incentive stock options granted in consideration of services as an officer. Incentive stock options become exercisable in three equal installments beginning on the first anniversary of the grant date specified in Column 3 or immediately upon death, disability, retirement at age 65, or a change in control. Each share of phantom stock represents the right to receive the economic equivalent of one share of Southwestern Energy Company common stock. 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. The phantom stock is currently held in the Southwestern Energy Company Nonqualified Retirement Plan (the "NQ Plan") investment fund, and has been adjusted to reflect the two-for-one stock split on March 25, 2008. This option was previously reported as covering 77,992 incentive stock options at an exercise price of $1.8594 per share, and has been adjusted as a result of a two-for-one stock split on March 25, 2008. This option was previously reported as covering 108,359 incentive stock options at an exercise price of $5.285 per share, and has been adjusted as a result of a two-for-one stock split on March 25, 2008. This option was previously reported as covering 23,710 incentive stock options at an exercise price of $35.49 per share, and has been adjusted as a result of a two-for-one stock split on March 25, 2008. This option was previously reported as covering 21,850 incentive stock options at an exercise price of $40.67 per share, and has been adjusted as a result of a two-for-one stock split on March 25, 2008. This option was previously reported as covering 21,940 incentive stock options at an exercise price of $54.36 per share, and has been adjusted as a result of a two-for-one stock split on March 25, 2008. /s/ Melissa D. McCarty, Attorney-in-fact for Mr. Kerley 2008-12-15