SEC Form 4 · accession 0001580695-17-000485
Erin Energy Corp. · ERN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kase Lukman Lawal
10% Owner
Period of report
Oct 13, 2017
Accepted (ET)
Oct 20, 2017 · 5:09 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 StockF3 | Oct 13, 2017 | P | 6,400 | $2.80 | A | 3,328,092 | D | |
| Common StockF4 | Oct 16, 2017 | P | 7,270 | $2.74 | A | 3,335,362 | D | |
| Common StockF5 | Oct 18, 2017 | P | 11,300 | $2.85 | A | 3,346,662 | D | |
| Common StockF1,F2 | holding | — | — | — | 117,624,760 | I | Through Voting Agreement |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On July 5, 2017, Oltasho Nigeria Limited ("Oltasho") and Latmol Investment Limited ("Latmol") entered into a Voting Agreement with Dr. Lawal (the "Voting Agreement"). Pursuant to the Voting Agreement, Oltasho and Latmol provided complete authority to Dr. Lawal to vote 117,624,760 shares of the Registrant's common stock (and any other securities of the Registrant obtained by Oltasho and/or Latmol in the future) at any and all meetings of stockholders of the Registrant and via any written consents.
- F2The Voting Agreement has a term of approximately 10 years, through July 31, 2027, but can be terminated at any time with the mutual consent of the parties. In connection with their entry into the Voting Agreement, Oltasho and Latmol each provided Dr. Lawal an irrevocable voting proxy to vote the shares covered by the Voting Agreement. Additionally, Oltasho and Latmol agreed not to transfer the shares covered by the Voting Agreement, during the term of such agreement, except pursuant to certain limited exceptions described in the Voting Agreement.
- F3The price reflects a weighted average of purchases made at prices ranging from $2.74 to $2.90. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
- F4The price reflects a weighted average of purchases made at prices ranging from $2.71 to $2.75. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
- F5The price reflects a weighted average of purchases made at prices ranging from $2.80 to $2.85. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.