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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Employee Stock Option (right to buy) | $ 4.97 | 01/05/2002 | 06/20/2011 | Common Stock | 37,500 | 37,500 | D | ||||||||
Employee Stock Option (right to buy) | $ 20.91 | 06/12/2009 | 06/12/2018 | Common Stock | 80,000 | 80,000 | D | ||||||||
Employee Stock Option (right to buy) (2) | $ 2 | 05/20/2009 | A | 104,000 | 05/20/2010 | 05/20/2019 | Common Stock | 104,000 | $ 0 | 104,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
OLDHAM LARRY 1004 N. BIG SPRING, SUITE 400 MIDLAND, TX 79701 |
X | CEO and President |
/s/ Larry C. Oldham | 05/22/2009 | |
**Signature of Reporting Person | Date |
* | 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). |
(1) | Such shares are held by Oldham Properties, Ltd., a limited partnership. The general partner of Oldham Properties, Ltd. is Oldham, LLC, a limited liability company solely owned by the reporting person's spouse. The reporting person's spouse and two children are the sole limited partners. The reporting person disclaims beneficial ownership of the issuer's common stock held by his spouse through Oldham Properties, Ltd., except to the extent of his pecuniary interest therein. |
(2) | Grant of nonqualified stock option pursuant to the Parallel Petroleum Corporation 2008 Long-Term Incentive Plan. The option vests in four equal annual installments beginning on May 20, 2010. |