SEC Form 4 · accession 0001402281-17-000026
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
Feb 15, 2017
Accepted (ET)
Mar 1, 2017 · 7:55 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 StockF1,F2 | Feb 15, 2017 | A | 35,897 | $3.90 | A | 891,922 | D | |
| Common StockF3 | Feb 15, 2017 | F | 13,407 | $3.90 | D | 878,515 | D | |
| Common StockF4 | Feb 17, 2017 | F | 19,377 | $3.80 | D | 859,138 | D | |
| Common StockF5 | Feb 17, 2017 | F | 19,140 | $3.80 | D | 839,998 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Common stock of Issuer granted to Reporting Person on February 15, 2017 pursuant to Issuer's Amended 2009 Equity Incentive Plan in lieu of Reporting Person's 2016 annual incentive for payout in 2017. 100% of the shares become vested and nonforfeitable on the date of Grant and are subject to the terms and conditions of the Restricted Shares Grant Agreement.
- F2The price per share is $0. The grant was valued at $3.90 per share.
- F3Reporting person received 22,490 shares of the Issuer's Common Stock upon net share settlement in connection with the immediate vesting of 35,897 shares of common stock on February 15, 2017, with the remaining 13,407 shares being retained by the Issuer to pay the tax withholding requirements arising from the net share settlement of the restricted stock grant.
- F4Reporting person received 28,091 shares of the Issuer's Common Stock upon net share settlement in connection with the February 17, 2017 vesting of 47,468 shares of common stock granted to Reporting Person on February 17, 2015, with the remaining 19,377 shares being retained by the Issuer to pay the tax withholding requirements arising from the net share settlement of the restricted stock grant.
- F5Reporting person received 32,230 shares of the Issuer's Common Stock upon net share settlement in connection with the February 17, 2017 vesting of 51,370 shares of common stock granted to Reporting Person on February 17, 2016, with the remaining 19,140 shares being retained by the Issuer to pay the tax withholding requirements arising from the net share settlement of the restricted stock grant.