SEC Form 4
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*
Lewis John T.

(Last) (First) (Middle)
1001 NOBLE ENERGY WAY

(Street)
HOUSTON TX 77070

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
NOBLE ENERGY INC [ NBL ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Sr. VP Corporate Development
3. Date of Earliest Transaction (Month/Day/Year)
10/05/2020
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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
Noble Energy, Inc. Common Stock 10/05/2020 D 101,235 D (1)(2) 0 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 (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
Employee Stock Option Grant (Right to Buy) $45.2 10/05/2020 D 20,990 (3)(4)(5) 02/01/2021 Noble Energy Inc. Common Stock 20,990 (3)(4) 0 D
Employee Stock Option Grant (Right to Buy) $50.91 10/05/2020 D 19,532 (3)(4)(6) 02/01/2022 Noble Energy Inc. Common Stock 19,532 (3)(4) 0 D
Employee Stock Option Grant (Right to Buy) $54.6 10/05/2020 D 22,958 (3)(4)(7) 02/01/2023 Noble Energy Inc. Common Stock 22,958 (3)(4) 0 D
Employee Stock Option Grant (Right to Buy) $62.33 10/05/2020 D 20,056 (3)(4)(8) 01/31/2024 Noble Energy Inc. Common Stock 20,056 (3)(4) 0 D
Employee Stock Option Grant (Right to Buy) $47.74 10/05/2020 D 26,748 (3)(4)(9) 01/30/2025 Noble Energy Inc. Common Stock 26,748 (3)(4) 0 D
Employee Stock Option Grant (Right to Buy) $31.65 10/05/2020 D 37,623 (3)(4)(10) 02/01/2026 Noble Energy Inc. Common Stock 37,623 (3)(4) 0 D
Employee Stock Option Grant (Right to Buy) $39.46 10/05/2020 D 30,165 (3)(4)(11) 02/01/2027 Noble Energy Inc. Common Stock 30,165 (3)(4) 0 D
Employee Stock Option Grant (Right to Buy) $30.89 10/05/2020 D 17,191 (3)(4)(12) 02/01/2028 Noble Energy Inc. Common Stock 17,191 (3)(4) 0 D
Employee Stock Option Grant (Right to Buy) $22.39 10/05/2020 D 25,759 (3)(4)(13) 02/01/2029 Noble Energy Inc. Common Stock 25,759 (3)(4) 0 D
Performance Shares (13) 10/05/2020 D 81,331 (14)(15) (14)(15) Noble Energy Inc. Common Stock 81,331 (14)(15) 0 D
Phantom Units (14) 10/05/2020 D 22,245 (16) (16) Noble Energy Inc. Common Stock 22,245 (16) 0 D
Explanation of Responses:
1. On October 5, 2020, pursuant to the Agreement and Plan of Merger dated as of July 20, 2020 (the "Merger Agreement"), by and among Chevron Corporation ("Chevron"), Chelsea Merger Sub Inc. ("Merger Sub") and Noble Energy, Inc. ("Noble Energy"), Merger Sub merged with and into Noble Energy (the "Merger"), with Noble Energy surviving the Merger as a direct, wholly-owned subsidiary of Chevron. Pursuant to the Merger Agreement, each share of Noble Energy common stock issued and outstanding immediately prior to the effective time of the Merger was converted into the right to receive 0.1191 of a share of Chevron common stock. On October 2, 2020 (the day prior to the Merger), the closing price of one share of Chevron common stock was $71.19.
2. Pursuant to the Merger Agreement, each award of shares of restricted Noble Energy common stock, subject to vesting, repurchase or other lapse restriction solely based on continued service (a "Noble Energy RS Award"), was converted into an award, on the same terms and conditions as were applicable under such Noble Energy RS award immediately prior to the effective time of the Merger (including any provisions for acceleration) with respect to the number (rounded to the nearest whole number) of shares of Chevron common stock determined by multiplying (i) the number of shares of Noble Energy common stock subject to such Noble Energy RS Award immediately prior to the effective time of the Merger by (ii) 0.1191 of a share of Chevron common stock.
3. Pursuant to the Merger Agreement, each outstanding option to purchase shares of Noble Energy common stock (a "Noble Energy Stock Option") was converted into an option to acquire, on the same terms and conditions as were applicable under such Noble Energy Stock Option immediately prior to the effective time of the Merger (including any provisions for acceleration), the number (rounded down to the nearest whole number) of shares of Chevron common stock determined by multiplying (i) the number of shares of Noble Energy common stock subject to such Noble Energy Stock Option immediately prior to the effective time of the merger by (ii) 0.1191 of a share of Chevron common stock.
4. (Continued from footnote 3) The exercise price per share of Chevron common stock subject to each converted option is equal to (x) the exercise price per share of Noble Energy common stock that was subject to the applicable Noble Energy Stock Option immediately prior to the effective time of the Merger divided by (y) 0.1191 (rounded up to the nearest one hundredth of a cent).
5. This Noble Energy Stock Option provided for vesting in three equal annual installments beginning on February 1, 2012.
6. This Noble Energy Stock Option provided for vesting in three equal annual installments beginning on February 1, 2013.
7. This Noble Energy Stock Option provided for vesting in three equal annual installments beginning on February 1, 2014.
8. This Noble Energy Stock Option provided for vesting in three equal annual installments beginning on January 31, 2015.
9. This Noble Energy Stock Option provided for vesting in three equal annual installments beginning on January 30, 2016.
10. This Noble Energy Stock Option provided for vesting in three equal annual installments beginning on February 1, 2017.
11. This Noble Energy Stock Option provided for vesting in three equal annual installments beginning on February 1, 2018.
12. This Noble Energy Stock Option provided for vesting in three equal annual installments beginning on February 1, 2019.
13. This Noble Energy Stock Option provided for vesting in three equal annual installments beginning on February 1, 2020.
14. Pursuant to the Merger Agreement, each award of notional shares of restricted Noble Energy common stock, whose vesting is conditioned in full or in part based on achievement of performance goals or metrics (a "Noble Energy PS Award") was converted into an award, on the same terms and conditions as were applicable under such Noble Energy PS Award immediately prior to the effective time of the Merger (other than any performance-based vesting conditions), with respect to the number (rounded to the nearest whole number) of shares of Chevron common stock determined by multiplying (i) the number of shares of Noble Energy common stock subject to such Noble Energy PS Award
15. (Continued from footnote 14) (assuming that any performance-based vesting conditions applicable to such Noble Energy PS award for any performance period that has not been completed as of the effective time of the Merger are achieved at the greater of "target" performance or actual performance as of such effective time) by (ii) 0.1191 of a share of Chevron common stock.
16. Pursuant to the Merger Agreement, each phantom unit, or cash-settled restricted stock unit award of Noble Energy (each, a "Noble Energy RSU Award"), was converted into an award, on the same terms and conditions as were applicable under such Noble Energy RSU Award immediately prior to the effective time of the Merger (including any provisions for acceleration), with respect to the number (rounded to the nearest whole number) of shares of Chevron common stock determined by multiplying (i) the number of shares of Noble Energy common stock subject to such Noble Energy RSU Award immediately prior to the effective time of the Merger by (ii) 0.1191 of a share of Chevron common stock.
Remarks:
/s/ Rachel Clingman, attorney-in-fact for John T. Lewis 10/05/2020
** Signature of Reporting Person Date
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