SEC Form 4 · accession 0001144204-15-062502

Searchlight Minerals Corp. · SRCH

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Martin B Oring

Officer — CEO and President · Director

Period of report

Sep 18, 2015

Accepted (ET)

Nov 3, 2015 · 4:30 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001084226

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1,F2	Sep 18, 2015	P$0	21,275	—	A	388,435	I	By Martin Oring Financial Trust
Common Stock^F3,F4	Sep 18, 2015	P$0	5,750	—	A	22,550	I	By Wealth Preservation Defined Benefit Plan

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Common Stock Purchase Warrants^F1,F2	$0.50	Sep 18, 2015	P	21,275	A	Sep 18, 2015	Sep 18, 2020	Common Stock	21,275	582,975	I
Common Stock Purchase Warrants^F3,F4	$0.50	Sep 18, 2015	P	5,750	A	Sep 18, 2015	Sep 18, 2020	Common Stock	5,750	2,407,560	I

Explanation of responses

F1The reported securities are included within 21,275 Units purchased by the Martin Oring Financial Trust for $0.35 per Unit in consideration for the cancellation of $7,446 in debt owing by Searchlight Minerals Corp. (the "Company") to the Martin Oring Financial Trust for September 18, 2015 interest payments due on certain notes. Each Unit consists of one share of common stock and one common stock purchase warrant, where each full warrant will entitle the warrant holder to purchase one share of the Company's common stock at an exercise price of $0.50 per share.
F2Mrs. Olivia Oring is one of the trustees of the Martin Oring Financial Trust Dated December 20, 2006 ("Financial Trust"), which was created for the benefit of Mr. Oring's children and grandchildren. Mr. Oring has no voting or investment power, direct or indirect, over the Financial Trust.
F3The reported securities are included within 5,750 Units purchased by the Wealth Preservation Defined Benefit Plan for $0.35 per Unit in consideration for the cancellation of $2,013 in debt owing by the Company to the Wealth Preservation Defined Benefit Plan for September 18, 2015 interest payments due on certain notes. Each Unit consists of one share of common stock and one common stock purchase warrant, where each full warrant will entitle the warrant holder to purchase one share of the Company's common stock at an exercise price of $0.50 per share.
F4These shares are held by Wealth Preservation, Defined Benefit Plan, of which Mr. Martin Oring and Mrs. Olivia Oring are sole beneficiaries and trustees, and in such capacity are deemed to hold voting and dispositive power over the securities held by the Wealth Preservation Defined Benefit Plan. Mrs. Olivia Oring is Mr. Oring's wife.