Karen Jo Simon - Dec 7, 2021 Form 4 Insider Report for Crescent Energy Co (CRGY)

Role
Director
Signature
/s/ Bo Shi, as attorney-in-fact for Karen Jo Simon
Stock symbol
CRGY
Transactions as of
Dec 7, 2021
Transactions value $
$0
Form type
4
Date filed
12/8/2021, 04:00 PM
Previous filing
Oct 21, 2021
Next filing
Apr 5, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CRGY Class A common stock Award +5.42K 5.42K Dec 7, 2021 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This Form 4 reports securities acquired in connection with the merger contemplated by that certain Transaction Agreement, dated June 7, 2021, by and among Crescent Energy Company (the "Issuer"), Contango Oil & Gas Company ("Contango"), Independence Energy LLC, IE OpCo LLC, IE C Merger Sub Inc. ("C Merger Sub") and IE L Merger Sub LLC ("L Merger Sub") (the "Transaction Agreement") whereby C Merger Sub merged with and into Contango, with Contango surviving the merger as a direct wholly owned subsidiary of the Issuer (the "Contango Merger") and Contango merged with and into L Merger Sub, with L Merger Sub surviving the merger as a direct wholly owned subsidiary of the Issuer (the "LLC Merger", together with the Contango Merger, the "Mergers"). On December 7, 2021, the effective time of the Mergers, (the "Effective Time"), each outstanding share of common stock, par value $0.04 per share, of Contango ("Contango common stock"),
F2 (Continued from Footnote 1), was converted automatically into the right to receive 0.200 shares of Class A common stock, par value $0.0001 per share, of the Issuer (the "Crescent Class A common stock") (the "Exchange Ratio"), with cash paid in lieu of the issuance of any fractional shares of Crescent Class A common stock.
F3 (Continued from footnote 2), The Crescent Class A common stock acquired by the Reporting Person is reported above, and is acquired as a result of the early acceleration of vesting of certain awards of restricted Contango Common Stock cancelled in exchange for the right to receive the number of shares of Crescent Class A common stock equal to the product of the number of shares of Contango Common Stock subject to such award, multiplied by the Exchange Ratio. On the trading day immediately prior to the Effective Time, the closing price of Contango Common stock was $3.11 per share and the Crescent Class A common stock had not yet commenced trading.