SEC Form 4/A · accession 0001402281-16-000119
Erin Energy Corp. · ERN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Segun Omidele
Officer — Chief Executive Officer · Director
Period of report
Mar 12, 2016
Accepted (ET)
Jun 6, 2016 · 5:47 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001402281
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Mar 12, 2016 | F | 12,057 | $2.31 | D | 608,748 | D | |
| Common StockF4 | May 31, 2016 | M | 100 | $2.04 | A | 608,848 | D | |
| Common Stock | May 31, 2016 | D | 100 | $2.75 | D | 608,748 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Incentive Stock Option (Right to Buy) | $2.04 | May 31, 2016 | M | 100 | D | Sep 1, 2012 | Sep 1, 2016 | Common Stock | 100 | 4,442,207 | D |
Explanation of responses
- F1Represents the number of shares sold by the Reporting Person to cover tax withholding obligations in connection with the March 12, 2016 vesting of Restricted Common stock granted to Reporting Person on March 12, 2014 pursuant to Issuer's 2009 Equity Incentive Plan and subject thereto. This sale is made to satisfy the tax withholding obligations funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.
- F2Reporting person sold these shares pursuant to a Rule 10b5-1 plan at an average price of $2.31.
- F3The transaction code was amended to reflect the exercise or conversion of derivative security exempted pursuant to Rule 16b-3.
- F4Issued upon exercise of incentive stock options granted to reporting person under the issuers 2009 Equity Incentive Plan.