SEC Form 4 · accession 0001354488-17-000037
TORCHLIGHT ENERGY RESOURCES INC · TRCH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John A. Brda
Officer — President and CEO · Director
Period of report
Jan 4, 2017
Accepted (ET)
Jan 5, 2017 · 4:05 pm EST
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 StockF1,F2 | Jan 4, 2017 | A | 41,322 | $1.21 | A | 2,568,322 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On January 4, 2017, the issuer issued Mr. Brda 41,322 restricted shares of common stock in exchange for the elimination of $50,000 in accrued and unpaid compensation due to Mr. Brda, which compensation is undisputed and has been reflected in the issuer?s prior financial statements.
- F2Prior to this transaction, both Mr. Brda and Brda and Company LLC (an entity of which Mr. Brda is the sole owner and Managing Director) transferred all shares of common stock they owned to the John A. Brda Trust (the "Trust"). Mr. Brda has also transferred the 41,322 shares reported in this transaction to the Trust. As of January 5, 2017, the Trust holds a total of 2,568,322 shares of common stock of the issuer. Mr. Brda is the settlor of the Trust and reserves the right to revoke the Trust without the consent of another person. Further, he is the trustee of the Trust and exercises investment control over the securities held by the Trust.