1 Oct 2020director interest notice● Neutral
Whiting Holdings LLC insider Paul Korus received 6,114 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 Sept 2020director interest notice● Neutral
Whiting Holdings LLC insider Kevin S Mccarthy bought 12,500 shares on the open market at $20.96.
8 Sept 2020director interest notice● Neutral
Whiting Holdings LLC insider Paul Korus bought 4,500 shares on the open market.
3 Sept 2020director interest notice● Neutral
Whiting Holdings LLC CAO and Secretary Bruce R Deboer acquired 6,523 shares and disposed of 41,263 in a set of related equity transactions.
3 Sept 2020director interest notice● Neutral
Whiting Holdings LLC President & CEO Bradley J Holly acquired 12,068 shares and disposed of 191,266 in a set of related equity transactions.
3 Sept 2020director interest notice● Neutral
James P Henderson became a Whiting Holdings LLC Chief Financial Officer and company insider (initial ownership filing).
3 Sept 2020director interest notice● Neutral
Whiting Holdings LLC insider Michael G Hutchinson acquired 989 shares and disposed of 10,765 in a set of related equity transactions.
3 Sept 2020director interest notice● Neutral
Anne Taylor became a Whiting Holdings LLC company insider (initial ownership filing).
3 Sept 2020director interest notice● Neutral
Janet Carrig became a Whiting Holdings LLC company insider (initial ownership filing).
3 Sept 2020director interest notice● Neutral
Kevin S Mccarthy became a Whiting Holdings LLC company insider (initial ownership filing).
3 Sept 2020director interest notice● Neutral
Whiting Holdings LLC insider Philip Edward Doty acquired 1,805 shares and disposed of 19,648 in a set of related equity transactions.
3 Sept 2020director interest notice● Neutral
Whiting Holdings LLC Vice President and Controller Sirikka R Lohoefener acquired 1,834 shares and disposed of 10,536 in a set of related equity transactions.
3 Sept 2020director interest notice● Neutral
Susan M Cunningham became a Whiting Holdings LLC company insider (initial ownership filing).
3 Sept 2020director interest notice● Neutral
Whiting Holdings LLC insider Lyne B Andrich acquired 989 shares and disposed of 10,765 in a set of related equity transactions.
3 Sept 2020director interest notice● Neutral
Whiting Holdings LLC insider Michael B Walen acquired 1,948 shares and disposed of 21,194 in a set of related equity transactions.
3 Sept 2020director interest notice● Neutral
Paul Korus became a Whiting Holdings LLC company insider (initial ownership filing).
3 Sept 2020director interest notice● Neutral
Whiting Holdings LLC insider James E Catlin acquired 7,143 shares and disposed of 77,741 in a set of related equity transactions.
3 Sept 2020director interest notice● Neutral
Whiting Holdings LLC insider Carin S. Knickel acquired 1,860 shares and disposed of 20,249 in a set of related equity transactions.
3 Sept 2020director interest notice● Neutral
Whiting Holdings LLC Chief Financial Officer Correne S Loeffler acquired 2,351 shares and disposed of 5,597 in a set of related equity transactions.
3 Sept 2020director interest notice● Neutral
Whiting Holdings LLC Chief Operating Officer Charles J. Rimer acquired 4,149 shares and disposed of 9,637 in a set of related equity transactions.
3 Sept 2020director interest notice● Neutral
Whiting Holdings LLC insider Thomas L Aller acquired 2,526 shares and disposed of 27,483 in a set of related equity transactions.
3 Sept 2020director interest notice● Neutral
Daniel J. Rice IV became a Whiting Holdings LLC company insider (initial ownership filing).
3 Sept 2020director interest notice● Neutral
Lynn A Peterson became a Whiting Holdings LLC President & CEO and company insider (initial ownership filing).
2 Sept 2020listing compliance notice● NeutralMajor
Whiting Holdings LLC's exchange filed to remove a class of its securities from listing.
2 Sept 2020listing compliance notice● NeutralMajor
Whiting Holdings LLC's exchange filed to remove a class of its securities from listing.
1 Sept 2020business combination▼ BadMajor
On September 1, 2020, the plan took effect and Whiting emerged from Chapter 11. Old common stock was cancelled in exchange for 3% of the new common stock (diluted by the warrants and the management incentive plan) plus Series A warrants (up to 4,837,821, exercise price $73.44, four years) and Series B warrants (up to 2,418,910, exercise price $83.45, five years). Old notes and their indentures were cancelled, and a new $750M reserve-based credit facility maturing April 1, 2024 was signed with JPMorgan as agent, with $324.67M initially available. The shareholder rights plan from March 2020 was terminated. This closes the bankruptcy thread.
1 Sept 2020securities registration● Neutral
Whiting Holdings LLC amended an already-effective registration statement.
1 Sept 2020securities registration● Neutral
Whiting Holdings LLC amended its automatic shelf registration statement.
17 Aug 2020bankruptcy or receivership▼ BadMajor
On August 14, 2020, the Bankruptcy Court confirmed Whiting's Chapter 11 plan, which the company expected to take effect around September 1, 2020. Existing shareholders get 3% of the new common stock plus Series A warrants (up to 10% of new stock) and Series B warrants (up to 5%), while noteholders and other general unsecured claimants get 97%. The existing stock, 91,642,480 shares outstanding at August 13, 2020, is to be cancelled. The credit facility is to be refinanced through a new exit revolver of up to $1.5B with $750M initial commitments, rather than repaid in cash as the earlier term sheet said. A management incentive plan of 7.70% of the new stock is also planned. The filing also has an Item 5.02 section that was cut off and is not covered here.
7 Aug 2020quarterly activities report● Neutral
Whiting Holdings LLC reported quarterly revenue of $91.6 million for the period ended 2020-06-30.