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Filing Details

Accession Number:: 0001181431-10-014961
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-03-09 12:00:00
Reporting Period:: 2010-03-05

Filing Date:: 2010-03-09
Accepted Time:: 2010-03-09 16:08:50
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
892986	Warren Resources Inc	WRES	Crude Petroleum & Natural Gas (1311)	113024080

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1187852	E David Fleming	1114 Avenue Of The Americas 34Th Floor New York NY 10036	Secretary & General Counsel	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2010-03-08	4,933	$2.51	18,205	No	4	M	Direct
Common Stock	Disposition	2010-03-08	1,885	$2.51	16,320	No	4	S	Direct
Common Stock	Acquisiton	2010-03-09	4,938	$2.56	21,258	No	4	M	Direct
Common Stock	Disposition	2010-03-09	1,849	$2.56	19,409	No	4	F	Direct
Common Stock	Acquisiton	2010-03-09	7,306	$2.56	26,715	No	4	M	Direct
Common Stock	Disposition	2010-03-09	2,736	$2.56	23,979	No	4	F	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	S	Direct
No	4	M	Direct
No	4	F	Direct
No	4	M	Direct
No	4	F	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Options (Right-to-Buy)	Acquisiton	2010-03-05	60,000	$0.00	60,000	$2.42
Common Stock	Restricted Stock Units	Acquisiton	2010-03-05	29,225	$0.00	29,225	$0.00
Common Stock	Restricted Stock Units	Disposition	2010-03-08	4,933	$2.51	4,933	$0.00
Common Stock	Restricted Stock Units	Disposition	2010-03-09	4,938	$2.56	4,938	$0.00
Common Stock	Restricted Stock Units	Disposition	2010-03-09	7,306	$2.56	7,306	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
60,000	2011-03-05	2015-03-05	No	4	A	Direct
29,225	2010-03-09	2010-12-10	No	4	A	Direct
4,933	2010-03-07	2011-03-07	No	4	M	Direct
0	2010-03-09	2010-03-09	No	4	M	Direct
21,919	2010-03-09	2010-12-10	No	4	M	Direct

Footnotes

On March 7, 2008, Reporting Person was issued restricted stock units (RSUs). Each RSU represented a contingent right to one (1) share of Warren Resources, Inc. common stock once vested. The RSUs granted on March 7, 2008 vest: 1/3rd on March 7, 2009, 1/3rd on March 7, 2010 and 1/3rd on March 7, 2011.
On March 9, 2007, Reporting Person was issued restricted stock units (RSUs). Each RSU represented a contingent right to one (1) share of Warren Resources, Inc. common stock once vested. The RSUs granted on March 9, 2007 vest: 1/3rd on March 9, 2008, 1/3rd on March 9, 2009 and 1/3rd on March 9, 2010.
Sufficient common shares were disposed of to pay minimum tax withholding obligation to Company upon vesting of restricted stock units.
The Stock Options vest and become exercisable as follows: 1/3rd after one year from grant, 1/3rd after two years and 1/3rd after three years.
On March 5, 2010, Reporting Person was issued restricted stock units (RSUs). Each RSU represents a contingent right to one (1) share of Warren Resources, Inc. common stock once vested. The RSUs granted on March 5, 2010 vest as follows: 1/4th on March 9, 2010; 1/4th on June 10, 2010; 1/4th on on September 10, 2010; and 1/4th on December 10, 2010.
Restricted Stock vested through net settlement with the Company pursuant to which the Company withheld the number of shares necessary to cover Reporting Person's minimum tax withholding.
Excludes 10,000 shares held by a family trust for which the Reporting Person disclaims beneficial ownership.