SEC Form 4 · accession 0001445866-15-001378
SUMMER ENERGY HOLDINGS INC · SUME
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Tom Davis Oleary
Director · 10% Owner
Period of report
Nov 20, 2015
Accepted (ET)
Nov 24, 2015 · 6:58 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001396633
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | Nov 23, 2015 | J | 2,959 | $0.00 | A | 2,585,728 | D | |
| Common StockF1 | Nov 24, 2015 | J | 24,426 | $0.00 | A | 2,610,154 | D | |
| Common StockF3 | Nov 20, 2015 | P | 2,470 | $1.2844 | A | 9,820 | I | Footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy) | $1.50 | Nov 20, 2015 | A | 6,250 | A | Nov 20, 2015 | Nov 20, 2025 | Common Stock | 6,250 | 6,250 | D |
Explanation of responses
- F1The reporting person received these shares of common stock in connection with a personal guaranty given by the reporting person for the benefit of the Issuer in connection with an Advance-to-Loan Amount Note, whereby the Issuer borrowed funds from a lending institution. In consideration of such personal guaranty, the Issuer agreed to grant up to 30,000 shares of common stock per month, reduced accordingly as the principal amount of the Note is reduced. Does not include 9,820 shares held of record by Northeast Opco, LLC, a Texas LLC. Mr. O'Leary is an officer 20% owner of such entity and shares voting and dispositive power over such shares.
- F2The reporting person received these shares of common stock as a payment-in-kind dividend on 300,000 shares of Series B Preferred Stock owned by the reporting person on the dividend record date. The dividends are payable in cash or common stock and the reporting person elected to receive such dividends in the form of common stock.
- F3The reported securities were purchased by NORTHEAST OPCO, LLC, a Texas limited liability company of which the Reporting Person is an officer and control person as well as a 20% owner. The Reporting Person disclaims beneficial ownership of the shares of common stock held by NORTHEAST OPCO, LLC, except to the extent of his pecuniary interest therein. The purchases were made pursuant to a 10b5-1 trading plan adopted by NORTHEAST OPCO, LLC, on June 19, 2015.
Remarks
By Alexander N. Pearson, pursuant to a Power of Attorney dated December 12, 2012 previously filed with the Securities and Exchange Commission as Exhibit 24.1 to Schedule 13G on December 12, 2012 on behalf of Tom O'Leary, which Power of Attorney is incorporated by reference