SEC Form 4 · accession 0001185185-15-000123

Pegasi Energy Resources Corporation. · PGSI

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

Reporting owner

Officer — Executive Vice President, Land

Period of report

Jan 9, 2015

Accepted (ET)

Jan 20, 2015 · 9:09 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001363254

Table I — non-derivative securities

No Table I lines on this filing.

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Convertible Note^F1,F2,F3	$0.12	Jan 9, 2015	P	100,000	A	Jan 9, 2015	—	Common Stock	833,333	100,000	I
Warrants^F4,F5	$0.132	Jan 9, 2015	P	277,778	A	Jan 9, 2015	Jan 9, 2022	Common Stock	277,778	277,778	I

F1The conversion price underlying the convertible note shall be equal to the lower of (i) $0.12 or (ii) the higher of (x) $0.05 or (y) the VWAP on the trading day immediately preceding the conversion date, subject to adjustment.
F2Investor holding a majority in interest of the outstanding notes may demand a full payment of the note, provided that such demand cannot be made prior to January 9, 2016.
F3The number of shares is based on the current conversion price. The reporting person may not convert the note if such conversion would result in the reporting person or any of its affiliates would beneficially own more than 4.99% of Common Stock.
F4The exercise price underlying the warrant shall be the lower of (i) $0.132 or (ii) the higher of (x) $0.06 or (y) 110% of the VWAP on the trading day immediately preceding the date of the exercise notice, subject to adjustment.
F5The reporting person may not exercise the warrant if such exercise would result in the reporting person or any of its affiliates would beneficially own more than 4.99% of Common Stock.