SEC Form 3 · accession 0001493152-15-004958
Royal Energy Resources, Inc. · ROYE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ian Ganzer
Officer — Chief Operating Officer
Period of report
Jun 10, 2015
Accepted (ET)
Oct 22, 2015 · 5:40 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001102392
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | holding | — | — | — | 175,000 | D | ||
| Common StockF2 | holding | — | — | — | 25,597 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Mr. Ganzer's ownership is subject to the right of the issuer to put membership interests in Blue Grove Coal, LLC to Mr. Ganzer and Gary Ganzer, Mr. Ganzer's father, for 10% of his shares if the put is exercised between ten and sixteen months after June 9, 2015, and for 20%, of his shares if the put is exercised between sixteen and twenty-four months after June 9, 2015. Mr. Ganzer also has the an option, with his father, to acquire the issuer's membership interests in Blue Grove Coal, LLC for consideration which includes 90% of his shares if the option is exercised between ten and sixteen months after June 9, 2015, and for 80% of his shares if the put is exercised between sixteen and twenty-four months after June 9, 2015.
- F2Mr. Ganzer's ownership vests on a monthly basis, pro rata, over 24 months starting on June 10, 2015. Any unvested shares will be forfeited by Mr. Ganzer if his employment relationship with Royal Energy Resources, Inc. terminates for any reason prior to the end of the vesting period.