SEC Form 4 · accession 0001402281-17-000002
Erin Energy Corp. · ERN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Segun Omidele
Officer — Chief Executive Officer · Director
Period of report
Jan 20, 2017
Accepted (ET)
Jan 24, 2017 · 7:02 pm EST
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 Stock | Jan 20, 2017 | M | 113,624 | $2.16 | A | 758,320 | D | |
| Common StockF1 | Jan 20, 2017 | F | 81,783 | $3.55 | D | 676,537 | 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)F2 | $2.16 | Jan 20, 2017 | M | 113,624 | D | — | Feb 28, 2017 | Common Stock | 113,624 | 4,004,043 | D |
Explanation of responses
- F1Reporting Person received 31,841 shares of the Issuer's Common Stock upon net share settlement of Reporting Person's exercise of options to purchase 113,624 shares of Issuer's Common Stock, with the remaining 81,783 shares being retained by the Issuer to pay the exercise price and to satisfy the minimum tax withholding requirements arising from the exercise.
- F2One-Third of the shares underlying the option vest on each of the first, second and third anniversaries of the date of grant (fully vested on the third anniversary of the grant date). The date of the grant for the option was February 28, 2012.