0001528129-22-000074.txt : 20220325 0001528129-22-000074.hdr.sgml : 20220325 20220325161626 ACCESSION NUMBER: 0001528129-22-000074 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220324 FILED AS OF DATE: 20220325 DATE AS OF CHANGE: 20220325 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: PIGOTT M. JASON CENTRAL INDEX KEY: 0001585031 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-35380 FILM NUMBER: 22771577 MAIL ADDRESS: STREET 1: 6100 N. WESTERN AVE. CITY: OKLAHOMA CITY STATE: OK ZIP: 73118 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Laredo Petroleum, Inc. CENTRAL INDEX KEY: 0001528129 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 453007926 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 15 W. SIXTH STREET STREET 2: SUITE 900 CITY: TULSA STATE: OK ZIP: 74119 BUSINESS PHONE: 918-513-4570 MAIL ADDRESS: STREET 1: 15 W. SIXTH STREET STREET 2: SUITE 900 CITY: TULSA STATE: OK ZIP: 74119 FORMER COMPANY: FORMER CONFORMED NAME: Laredo Petroleum Holdings, Inc. DATE OF NAME CHANGE: 20110816 4 1 wf-form4_164823935719722.xml FORM 4 X0306 4 2022-03-24 0 0001528129 Laredo Petroleum, Inc. LPI 0001585031 PIGOTT M. JASON 15 W. 6TH STREET, SUITE 900 TULSA OK 74119 1 1 0 0 President & CEO Common Stock 2022-03-24 4 S 0 5531 75 D 130620 D Performance Units 2022-06-03 Performance Units 10000.0 10000 D Performance Units 2023-03-05 Performance Units 55253.0 55253 D Performance Units 2024-03-09 Performance Units 49322.0 49322 D Performance Units 2025-02-22 Performance Units 28810.0 28810 D Shares sold pursuant to a Rule 10b5-1 trading plan. These are outperformance share units that are granted under the Issuer's Omnibus Equity Incentive Plan as part of an offer of employment. Each outperformance share unit represents a share of common stock. The outperformance share units will be payable, if at all, in common stock, based upon the Issuer's highest 50 consecutive trading day average closing stock price that occurs over a three-year performance period ending on June 3, 2022 and will vest in three equal annual installments beginning on June 3, 2022. The final number of shares of common stock earned can range from 0 to 50,000 shares. 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%. 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, (iii) earnings before interest, taxes, depreciation, amortization and exploration expense divided by three-year total debt reduction and (iv) growth in inventory, over a three-year performance period ending December 31, 2023. 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 225%. These performance units are granted under the Issuer's Omnibus Equity Incentive Plan. Each performance unit represents a share of common stock. The performance 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, (iii) earnings before interest, taxes, depreciation, amortization and exploration expense divided by three-year total debt reduction, (iv) growth in inventory and (v) emissions reduction, over a three-year performance period ending December 31, 2024. The final number of shares of common stock or cash earned is dependent on the performance of the stock price and the factors identified herein with the performance unit multiple having a range from 0% to 225%. /s/ Mark D. Denny, as attorney-in-fact for M. Jason Pigott 2022-03-25