SEC Form 4 · accession 0001354488-16-008373
TORCHLIGHT ENERGY RESOURCES INC · TRCH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Period of report
Oct 5, 2016
Accepted (ET)
Oct 7, 2016 · 4:48 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001431959
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Oct 5, 2016 | M | 502,837 | $1.57 | A | 512,837 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy)F2,F1 | $1.57 | Oct 5, 2016 | D | 250,000 | D | Sep 9, 2015 | Jun 11, 2019 | Common Stock | 250,000 | 2,000,000 | D |
| Employee Stock Option (Right to Buy)F3,F2,F1 | $1.57 | Oct 5, 2016 | M | 502,837 | D | Sep 9, 2015 | Jun 11, 2019 | Common Stock | 502,837 | 1,497,163 | D |
Explanation of responses
- F1These stock options were granted on June 11, 2015 but did not become exercisable until the issuer's 2015 stock option plan was approved by stockholders on September 9, 2015.
- F2Effective October 5, 2016, (i) the entire unvested portion of Mr. McAndrew?s stock options granted pursuant to his stock option agreement dated June 11, 2015 (the ?Stock Options?), amounting to 750,000 unvested Stock Options, became null and void, (ii) Mr. McAndrew surrendered for cancellation a total of 250,000 vested Stock Options, and (iii) the remaining Stock Options expire on June 11, 2019.
- F3Exercise of employee stock option.