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WLL > SEC Filings for WLL > Form 8-K on 18-Aug-2014All Recent SEC Filings

Show all filings for WHITING PETROLEUM CORP

Form 8-K for WHITING PETROLEUM CORP


18-Aug-2014

Other Events


Item 8.01. Other Events.

Whiting Petroleum Corporation (the "Company") previously disclosed that its Board of Directors terminated the Production Participation Plan (the "Plan"). The Company will pay to Plan participants the fair market value of their Plan interests in 2015 and James J. Volker, the Company's Chairman, President and Chief Executive Officer, had informed the Company he would use an amount equal to all of the after-tax proceeds from such payment to purchase shares of common stock of the Company. The Company has determined that the after-tax proceeds of such payment to Mr. Volker will be approximately $3.5 million. On August 13, 2014 and in advance of receipt of such after-tax proceeds, Mr. Volker used his own funds in an amount approximately equal to such after-tax proceeds to pay the exercise price and related income taxes to exercise options to purchase 75,000 shares of Whiting common stock.

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