Chesapeake Energy 2010 Annual Report Download - page 144

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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
Preferred Stock
Following is a summary of our preferred stock, including the primary conversion terms as of December 31,
2010:
Preferred Stock Series Issue Date
Liquidation
Preference
per Share
Holder’s
Conversion
Right
Conversion
Rate
Conversion
Price
Company’s
Conversion
Right From
Company’s
Market
Conversion
Trigger(a)
5.75% cumulative
convertible
non-voting ..........
May and
June 2010 $1,000 Any time 37.0370 $ 27.0000
May
17,
2015 $ 35.1000
5.75% (series A)
cumulative convertible
non-voting ..........
May
2010 $1,000 Any time 35.7961 $ 27.9360
May
17,
2015 $ 36.3168
4.50% cumulative
convertible ..........
September
2005 $ 100 Any time 2.2727 $ 43.9998
September
15,
2010 $ 57.1997
5.00% cumulative
convertible
(series 2005B) .......
November
2005 $ 100 Any time 2.5707 $ 38.8993
November
15,
2010 $ 50.5691
(a) Convertible at the company’s option if the trading price of the company’s common stock equals or exceeds
the trigger price for a specified time period or after the conversion date indicated if there are less than
250,000 shares of 4.50% or 5.00% (series 2005B) preferred stock outstanding or 25,000 shares of 5.75%
or 5.75% (series A) preferred stock outstanding.
The following is a summary of the changes in our preferred shares outstanding for 2010, 2009 and 2008:
5.75% 5.75%(A) 4.50%
5.00%
(2005B)
5.00%
(2005) 6.25% 4.125%
(in thousands)
Shares outstanding at
January 1, 2010 ............... — — 2,559 2,096 5 — —
Preferred stock issuances ..... 1,500 1,100 — — — — —
Conversion/exchange of
preferred for common
stock ..................... — — — — (5) — —
Shares outstanding at
December 31, 2010 ............ 1,500 1,100 2,559 2,096 — — —
Shares outstanding at
January 1, 2009 ............... — — 2,559 2,096 5 144 3
Conversion/exchange of
preferred for common
stock ..................... — — — — — (144) (3)
Shares outstanding at
December 31, 2009 ............ — — 2,559 2,096 5 — —
Shares outstanding at
January 1, 2008 ............... — — 3,450 5,750 5 144 3
Conversion/exchange of
preferred for common
stock ..................... — — (891) (3,654) — — —
Shares outstanding at
December 31, 2008 ............ — — 2,559 2,096 5 144 3
98