HORNE PAUL T

PrivateCIK: 1385058

Location

MIDLAND, TX

HORNE PAUL T (Chairman and CEO) exercised options at LEGACY RESERVES LP

Option exercise — a mechanical event triggered by vesting or expiry. Not a discretionary conviction trade.

M · 3 exercises

HORNE PAUL T

Filed: 9/24/2018ACC: 0000899243-18-025087

InsiderHORNE PAUL TCIK 1385058

→

IssuerLEGACY RESERVES LPCIK 1358831

DirectorOfficer· Chairman and CEO

Since Sep 2018

-3.22M

Net shares

Net seller

$11.92M

Total sold

0

Open market trades

0B · 0S

10

Total transactions

3.03M acquired · 6.24M disposed

Non-Derivative Transactions7

Units representing limited partner interests

Direct

M · Option Exercise

Shares

+563.55K

Price / share

—

Trade value

—

% of position

801.5%

9/20/2018

70.32K→633.87K

Units representing limited partner interests

Direct

M · Option Exercise

Shares

+1.51M

Price / share

—

Trade value

—

% of position

238.4%

9/20/2018

633.87K→2.14M

Units representing limited partner interests

Direct

D · Disposition

Shares

−1.51M

Price / share

$4.84

Trade value

$7.31M

% of position

70.4%

9/20/2018

2.14M→633.87K

Units representing limited partner interests

Direct

M · Option Exercise

Shares

+951K

Price / share

—

Trade value

—

% of position

150.0%

9/20/2018

633.87K→1.58M

Units representing limited partner interests

Direct

D · Disposition

Shares

−951K

Price / share

$4.84

Trade value

$4.60M

% of position

60.0%

9/20/2018

1.58M→633.87K

Units representing limited partner interests

Direct

D · Disposition

Shares

−633.87K

Price / share

—

Trade value

—

% of position

New position

9/20/2018

633.87K→0.00

Units representing limited partner interests

Indirect

D · Disposition

Shares

−121.68K

Price / share

—

Trade value

—

% of position

New position

9/20/2018

121.68K→0.00

Total

Net shares

−192K

Net value

-$11.92M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Units representing limited partner interests Direct	9/20/2018	M · Option Exercise	+563.55K	—	—	801.5%	70.32K	633.87K
Units representing limited partner interests Direct	9/20/2018	M · Option Exercise	+1.51M	—	—	238.4%	633.87K	2.14M
Units representing limited partner interests Direct	9/20/2018	D · Disposition	−1.51M	$4.84	$7.31M	70.4%	2.14M	633.87K
Units representing limited partner interests Direct	9/20/2018	M · Option Exercise	+951K	—	—	150.0%	633.87K	1.58M
Units representing limited partner interests Direct	9/20/2018	D · Disposition	−951K	$4.84	$4.60M	60.0%	1.58M	633.87K
Units representing limited partner interests Direct	9/20/2018	D · Disposition	−633.87K	—	—	New position	633.87K	0.00
Units representing limited partner interests Indirect	9/20/2018	D · Disposition	−121.68K	—	—	New position	121.68K	0.00
Total			−192K		-$11.92M

Derivative Transactions3

Phantom Units

Direct

M · Option Exercise

Converts to

Units

563.55K shares

Shares

−563.55K

Strike price

Held after

0.00

Exercisable

—

9/20/2018

Phantom Units

Direct

M · Option Exercise

Converts to

Units

1.51M shares

Shares

−1.51M

Strike price

Held after

0.00

Exercisable

—

9/20/2018

Phantom Units

Direct

M · Option Exercise

Converts to

Units

951K shares

Shares

−951K

Strike price

Held after

0.00

Exercisable

—

9/20/2018

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Phantom Units Direct	Units563.55K shares	9/20/2018	M · Option Exercise	−563.55K		—	0.00
Phantom Units Direct	Units1.51M shares	9/20/2018	M · Option Exercise	−1.51M		—	0.00
Phantom Units Direct	Units951K shares	9/20/2018	M · Option Exercise	−951K		—	0.00

HORNE PAUL T — Insider Transaction (Form 4) Filed Sep 24, 2018 | Finecho