Explanation for share disposal by Chesapeake executives

A correction to one of our stories earlier this week about top executives of Chesapeake Energy disposing of more than 400,000 company shares.

As the SEC filings indicated, “These shares were forfeited to the issuer to satisfy tax withholding obligations in connection with the partial vesting of a previously disclosed restricted stock award.”

The forfeiture of shares was reported by CEO Robert D. Lawler; Domenic Dell’Osso Junior, the company’s Executive Vice President and Chief Financial Officer; William M. Buergler who is Chesapeake’s Senior Vice President and Chief Accounting Officer; Frank J. Patterson, Executive Vice President of Exploration and Production; and James R. Webb, Executive Vice President, General Counsel and Corporate Secretary.