SilverBow Resorces (SBOW) CFO Abundis returned to the company 148,668 shares

Insider transactions reported

Christopher M Abundis (EVP, CFO & GC at SilverBow Resorces Inc., SBOW) reported that they returned to the company 148,668 shares on Jul 30, 2024. After these transactions the filing shows 0 shares held directly.

Reporting person

Abundis Christopher M

Role

EVP, CFO & GC

Options and other derivatives

Holdings before and after

• SilverBow Resources, Inc. Common Stock: 148,668 to 0 direct
• Stock Option 03/22/2017: 21,103 to 0 direct
• Performance Based Restricted Stock Units 2/23/2022: 23,204 to 0 direct
• Performance Based Restricted Stock Units 2/22/2023: 25,901 to 0 direct
• Performance Based Restricted Stock Units 2/21/2024: 28,671 to 0 direct

Footnotes from the filing

1. 1. As of the effective time of the transactions contemplated by the Agreement and Plan of Merger (the Merger Agreement, and the transactions contemplated thereby, the Merger ) entered into on May 15, 2024, by and among the Issuer, Crescent Energy Company ( Parent ), Artemis Acquisition Holdings, Inc., Artemis Merger Sub Inc. and Artemis Merger Sub II LLC, each share of the Issuer's common stock, par value $0.01 per share ( Issuer Common Stock ), held by the Reporting Person as of immediately prior to the effective time of the Merger, was converted into the right to receive, pursuant to an election made by the Reporting Person (subject to possible adjustment pursuant to the terms and conditions set forth in the Merger Agreement and with cash paid in lieu of fractional shares), one of the following forms of consideration:
2. 2. cont'd from Footnote 1: (i) a combination of 1.866 shares of Parent's Class A common stock, par value $0.0001 per share ( Parent Class A Common Stock ), and $15.31 in cash (the Mixed Consideration ), (ii) $38.00 in cash (the Cash Election Consideration ), (iii) 3.125 shares of Parent Class A Common Stock (the Stock Election Consideration ), or (iv) in the event of the Reporting Person's failure to timely deliver an election, the Stock Election Consideration.
3. 3. This amount includes 28,901 shares of Issuer Common Stock subject to awards of time-vesting restricted stock units ( RSUs ) held by the Reporting Person as of immediately prior to the effective time of the Merger that, pursuant to the Merger Agreement and as of the effective time of the Merger, were converted into the right to receive (i) a cash payment equal to the product of (A) 50% of the number of shares of Issuer Common Stock subject to the RSU as of immediately prior to the effective time of the Merger, multiplied by (B) the Cash Election Consideration and (ii) a number of shares of Parent Class A Common Stock equal to the product of (A) 50% of the number of shares of Issuer Common Stock subject to the RSU as of immediately prior to the effective time of the Merger, multiplied by (B) the Stock Election Consideration.
4. 4. Pursuant to the Merger Agreement, at the effective time of the merger, each outstanding award of options to purchase shares of Common Stock held by the Reporting Person as of immediately prior to the effective time of the Merger became fully vested and was cancelled and converted into the right to receive a cash payment equal to (i) the number of shares of Issuer Common Stock subject to each such option as of immediately prior to the effective time of the Merger, multiplied by (ii) the difference between the Cash Election Consideration and the exercise price per share of the Issuer Common Stock subject to such option.
5. 5. Pursuant to the Merger Agreement, at the effective time of the merger, each outstanding award of performance-vesting restricted stock units ( PSUs ) held by the Reporting Person as of immediately prior to the effective time of the Merger became fully vested and was cancelled and converted into the right to receive (i) a cash payment equal to the product of (A) 50% of the number of shares of Issuer Common Stock subject to the PSU as of immediately prior to the effective time of the Merger (assuming that all performance-based vesting conditions applicable to such PSU were achieved at the maximum level of performance), multiplied by (B) the Cash Election Consideration and
6. 6. cont'd from Footnote 5: (ii) a number of shares of Parent Class A Common Stock equal to the product of (A) 50% of the number of shares of Issuer Common Stock subject to the PSU as of immediately prior to the effective time of the Merger (assuming that all performance-based vesting conditions applicable to such PSU were achieved at the maximum level of performance), multiplied by (B) the Stock Election Consideration.

Transaction codes in this filing

Sale back to the company:

Code D marks a disposition back to the company under an exempt plan, as opposed to a sale in the market.

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