SEC Form 4 · accession 0001562140-16-000001
ZION OIL & GAS INC · ZN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gene Scammahorn
Director
Period of report
Jan 6, 2016
Accepted (ET)
Jan 8, 2016 · 7:13 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001131312
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 10% Convertible Senior Bond, Par Value $0.01F2,F1,F3 | — | Jan 6, 2016 | P | 2 | A | — | — | Common Stock, Par Value $0.01 | — | 2 | I |
Explanation of responses
- F1The conversion price is equal to the average of the closing price of our Common Stock as reported by Bloomberg L.P. for the thirty (30) trading days preceding the date of issuance of the convertible bond, plus a 30% issuance premium. Bond holders may convert their bonds at their option at any time prior to the close of business on the business day immediately preceding the 30 day period before the maturity date, unless the issuer redeems the bonds. The issuer may redeem the bonds after the second anniversary of the issuance of the bonds.
- F2Reporting person exercised one subscription right to purchase 2 10% Convertible Senior Bonds, Par Value $100.00. Each convertible bond will bear interest at a rate of 10% per year on the principal or par value of $100.00 per bond, payable annually in arrears on February 15 of each year beginning February 15, 2017. The interest payments shall be paid annually, in arrears in cash or in shares of our common stock, at the issuer's sole discretion.
- F3The bonds mature on February 15, 2021 unless earlier converted by holder or redeemed by the Issuer.