XFRA:5E3B Energy XXI (Bermuda) Ltd Insider Activity 4 Filing - 7/21/2012

Effective Date 7/21/2012

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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SCHILLER JOHN D JR
  2. Issuer Name and Ticker or Trading Symbol
ENERGY XXI (BERMUDA) LTD [EXXI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman and CEO
(Last)
(First)
(Middle)
1021 MAIN, SUITE 2626
3. Date of Earliest Transaction (Month/Day/Year)
07/21/2012
(Street)

HOUSTON, TX 77002
4. If Amendment, Date 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
(City)
(State)
(Zip)
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
Common Stock 07/21/2012   J(1)   94,595 A (1) 1,442,101 D  
Common Stock 07/21/2012   J(1)   34,480 D (1) 1,407,621 D  
Common Stock 07/21/2012   J(2)   50,416 A (2) 1,458,037 D  
Common Stock 07/21/2012   J(2)   18,377 D (2) 1,439,660 D  
Common Stock 07/21/2012   J(3)   5,020 A (3) 1,444,680 D  
Common Stock 07/21/2012   J(3)   1,830 D (3) 1,442,850 D  
Common Stock               9,247.519 I By 401 (K) Plan
Common Stock               21,000 I By Energy XXI Deferred Compensation Plan

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities
(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 of Derivative Security: 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
Performance Units (4) 07/21/2012   J(1)     160,000   (1)   (1) Common Stock 160,000 $ 0 0 D  
Performance Units (4) 07/21/2012   J(2)     180,000   (2)   (2) Common Stock 180,000 $ 0 180,000 D  
Performance Units (4) 07/21/2012   J(3)     266,667   (3)   (3) Common Stock 266,667 $ 0 533,333 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SCHILLER JOHN D JR
1021 MAIN
SUITE 2626
HOUSTON, TX 77002
  X     Chairman and CEO  

Signatures

 /S/ JOHN D. SCHILLER, JR.   07/23/2012
** Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents vesting of the last one-third of Mr. Schiller's performance units granted on July 21, 2009. Mr. Schiller elected to pay a tax liability arising upon vesting of the performance units by having the Issuer withhold shares that would have otherwise been issued to Mr. Schiller. The 34,480 shares withheld had a value equal to the tax liability.
(2) Represents vesting of the second one-third of Mr. Schiller's performance units granted on July 21, 2010 Mr. Schiller elected to pay a tax liability arising upon vesting of the performance units by having the Issuer withhold shares that would have otherwise been issued to Mr. Schiller. The 18,377 shares withheld had a value equal to the tax liability.
(3) Represents vesting of the first one-third of Mr. Schiller's performance units granted on July 21, 2011. Mr. Schiller elected to pay a tax liability arising upon vesting of the restricted stock units by having the Issuer withhold shares that would have otherwise been issued to Mr. Schiller. The 1,830 shares withheld had a value equal to the tax liability.
(4) The performance units were awarded under The Energy XXI Services, LLC 2006 Long-Term Incentive Plan.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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XFRA:5E3B Energy XXI (Bermuda) Ltd Insider Activity 4 Filling

Energy XXI (Bermuda) Ltd XFRA:5E3B Stock - Get Insider Activity SEC Filing of Energy XXI (Bermuda) Ltd XFRA:5E3B stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

XFRA:5E3B Energy XXI (Bermuda) Ltd Insider Activity 4 Filing - 7/21/2012
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