FORM 4 |
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 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
BERRY PETROLEUM CO [ BRY ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 06/23/2006 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 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 | ||||||
Class A Common Stock | 2,000 | D | ||||||||
Class A Common Stock | 06/23/2006 | J | V | 609(6) | A | $0 | 3,541 | I | Held in 401(k) Plan |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 Securities Underlying Derivative Security (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: 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 | ||||||||
Phantom Stock Units(2) | $0(1) | 08/08/1988(2) | 08/08/1988(2) | Class A Common Stock | 3,000 | 3,000 | D | ||||||||
Non-Statutory Stock Option (NSO)(3) | $8.07 | 06/23/2006 | J(8) | 10,000 | 12/02/2002 | 12/02/2012 | Class A Common Stock | 10,000 | $0(8) | 0 | D | ||||
Non-Statutory Stock Option (NSO)(3) | $8.07 | 06/23/2006 | J(8) | 10,000 | 12/02/2002 | 12/02/2012 | Class A Common Stock | 10,000 | $0(8) | 10,000 | D | ||||
Non-Statutory Stock Option (NSO)(3) | $9.61 | 06/23/2006 | J(8) | 10,000 | 12/02/2003 | 12/02/2013 | Class A Common Stock | 10,000 | $0(8) | 0 | D | ||||
Non-Statutory Stock Option (NSO)(3) | $9.61 | 06/23/2006 | J(8) | 10,000 | 12/02/2003 | 12/02/2013 | Class A Common Stock | 10,000 | $0(8) | 10,000 | D | ||||
Non-Statutory Stock Option (NSO)(3) | $14.375 | 06/23/2006 | J(8) | 200,000 | 06/16/2005 | 06/16/2014 | Class A Common Stock | 200,000 | $0(8) | 0 | D | ||||
Non-Statutory Stock Option (NSO)(3) | $14.375 | 06/23/2006 | J(8) | 200,000 | 06/16/2005 | 06/16/2014 | Class A Common Stock | 200,000 | $0(8) | 200,000 | D | ||||
Non-Statutory Stock Option (NSO)(3) | $21.58 | 06/23/2006 | J(8) | 130,000 | 11/23/2005 | 11/23/2014 | Class A Common Stock | 130,000 | $0(8) | 0 | D | ||||
Non-Statutory Stock Option (NSO)(3) | $21.58 | 06/23/2006 | J(8) | 130,000 | 11/23/2005 | 11/23/2014 | Class A Common Stock | 130,000 | $0(8) | 130,000 | D | ||||
Non-Statutory Stock Option (NSO)(3) | $30.645 | 12/15/2006(7) | 12/15/2015 | Class A Common Stock | 150,000 | 150,000 | D | ||||||||
Restricted Stock Units (RSU)(4) | $0(4) | (5)(9) | (5)(9) | Class A Common Stock | 20,000 | 20,000 | D | ||||||||
Restricted Stock Units (RSU)(4) | $0(4) | 06/23/2006 | A | 161,300 | (10) | (10) | Class A Common Stock | 161,300 | $0 | 161,300 | D |
Explanation of Responses: |
1. 1 for 1 |
2. Phantom Stock Units acquired under the Company's Non-Employee Director Deferred Stock and Compensation Plan in a transaction exempt under Rule 16b-3(c). Shares are issued under the terms of the Plan upon resignation from the Board. |
3. NSO - Right to buy Berry Petroleum Company Class A Common Stock |
4. Each RSU represents a contingent right to receive one share of Berry Petroleum Company Class A Common Stock |
5. The restricted stock units vest in four equal annual installments beginning December 15, 2006. Shares of Class A Common Stock will be delivered to the reporting person at the time of vesting. |
6. Between April 1, 2006 and June 23, 2006 the reporting person acquired shares of Berry Petroleum Company Common Stock in the Company's 401(k) Plan. All transactions were at market value and were non-discretionary. |
7. On June 23, 2006, the vesting provision was amended such that under certain terminations of service of the reporting person, the unvested stock options shall become fully vested. |
8. The reported disposition and acquisition transactions involving this instrument involved an amendment of the outstanding option resulting for purposes of Section 16 of the Securities Exchange Act of 1934 in the deemed cancellation of the "old" option and grant of a replacement option. The replacement option provides that under certain terminations of service of the reporting person, the replacement option shall remain exercisable longer than the period provided for under the terms of the "old option". The replacement option also amended the vesting provision such that under certain terminations of service of the reporting person, the unvested stock options shall become fully vested. |
9. On June 23, 2006, the vesting provision was amended such that under certain terminations of service of the reporting person, the unvested RSUs shall become fully vested. |
10. The restricted stock units vest in one installment on January 31, 2010 provided that the reporting person continues to serve as CEO on such date, or earlier under certain conditions. |
Remarks: |
Kenneth A. Olson under POA for Robert F. Heinemann | 06/23/2006 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* 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). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
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 Number. |