Sec Form 4 Filing - WELCH DAVID H @ STONE ENERGY CORP - 2017-02-28

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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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1. Name and Address of Reporting Person
WELCH DAVID H
2. Issuer Name and Ticker or Trading Symbol
STONE ENERGY CORP [ SGY]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Chairman, President & CEO
(Last) (First) (Middle)
625 E. KALISTE SALOOM RD.
3. Date of Earliest Transaction (MM/DD/YY)
02/28/2017
(Street)
LAFAYETTE, LA70508
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common stock, $0.01 par value 02/28/2017 J( 1 ) 80,301 D $ 0 ( 1 ) 0 D
Common stock, $0.01 par value 03/01/2017 J( 2 ) 14,155 A $ 0 ( 2 ) 14,155 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Options $ 446.7 02/28/2017 J( 3 ) 2,500 ( 3 ) ( 3 ) Common Stock, $0.01 par value 2,500 $ 0 0 D
Employee Stock Options $ 100.5 02/28/2017 J( 3 ) 2,000 ( 3 ) ( 3 ) Common Stock, $0.01 par value 2,000 $ 0 0 D
Employee Stock Options $ 69.7 02/28/2017 J( 3 ) 2,947 ( 3 ) ( 3 ) Common Stock, $0.01 par value 2,947 $ 0 0 D
Warrants $ 42.04 03/01/2017 J( 4 ) 49,948 ( 4 ) 03/01/2021 Common stock, $0.01 par value 49,948 $ 0 49,948 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
WELCH DAVID H
625 E. KALISTE SALOOM RD.
LAFAYETTE, LA70508
Chairman, President & CEO
Signatures
David H. Welch 03/02/2017
Signature of Reporting Person Date
Explanation of Responses:
( 1 )On December 14, 2016, the Issuer and certain of its subsidiaries (the "Debtors") filed voluntary petitions in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the "Bankruptcy Court") seeking relief under the provisions of Chapter 11 of Title 11 of the United States Bankruptcy Code (the "Bankruptcy Code"). On February 15, 2017, the Bankruptcy Court entered an order confirming the Debtor's Second Amended Joint Prepackaged Plan of Reorganization, dated December 28, 2016 (the "Plan") and on February 28, 2017 (the "Effective Date"), the Plan became effective pursuant to its terms and the Debtors emerged from bankruptcy. On the Effective Date, all outstanding shares of the Issuer's common stock (the "Old Common Stock") were cancelled and extinguished.
( 2 )New shares of the Issuer's common stock, par value $0.01 per share (the "New Shares") were issued to the Reporting Person pursuant to the Plan in exchange for Old Common Stock held by the Reporting Person on the Effective Date under the Plan. The Reporting Person received 1 New Share for every 5.674558 shares of Old Common Stock held by the Reporting Person on the Effective Date of the Plan. Included in the New Shares are 1,474 shares of restricted stock that vest January 15, 2018. The receipt of New Shares was involuntary, without consideration and in accordance with the Plan approved by the Bankruptcy Court.
( 3 )Pursuant to the Plan, the Options to purchase common stock were cancelled on the Effective Date.
( 4 )Pursuant to the Plan, the Reporting Person received 3.529412 warrants for each New Common Share. The warrants may be exercised any time prior to the expiration date, unless terminated earlier by their terms upon the consummation of certain business combinations or sale transactions involving the issuer. The receipt of the warrants was involuntary and without consideration.

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