SEC Form 4 · accession 0001580695-16-000837
CAMBER ENERGY, INC. · CEI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Alan William Dreeben
Director · 10% Owner
Period of report
Nov 4, 2016
Accepted (ET)
Nov 8, 2016 · 4:06 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001309082
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series B Redeemable Convertible Preferred StockF1,F2 | $3.50 | Nov 4, 2016 | P | 44,000 | D | Aug 25, 2016 | — | Common Stock | 314,160 | 44,000 | D |
Explanation of responses
- F1The Series B Redeemable Convertible Preferred Stock (the "Series B Preferred Stock") has a face value of $25 per share and is convertible into common stock, par value $0.001 per share of the Issuer ("Common Stock"), at a conversion price of $3.50 per share, at the option of the holder thereof, or automatically as to 25% of the Series B Preferred Stock shares if the Common Stock trades above $6.125 per25 share for at least 20 consecutive trading days, and trades with at least 75,000 shares of average volume per day (the "Trading Requirements"); an additional 50% if the Common Stock trades above $7.00 per share and meets the Trading Requirements; and as to the remaining Series B Preferred Stock shares, if the Common Stock trades above $7.875 per share and meets the Trading Requirements.
- F2Each outstanding share of Series B Preferred Stock is entitled to one vote per share on all stockholder matters. The Series B Preferred Stock is redeemable at any time by the Issuer upon the payment by the Issuer of the face amount of the Series B Preferred Stock ($25 per share) plus any and all accrued and unpaid dividends thereon.