SEC Form 4 · accession 0001654954-18-009636
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
Aug 27, 2018
Accepted (ET)
Aug 28, 2018 · 6:29 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 StockF1,F2 | Aug 27, 2018 | A | 50,000 | $1.18 | A | 2,318,322 | I | (See Footnote) |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On August 27, 2018, the issuer issued Mr. Brda 50,000 restricted shares of common stock in exchange for the elimination of $59,000 in accrued and unpaid compensation due to Mr. Brda, which compensation is undisputed and has been reflected in the issuer's prior financial statements.
- F2Mr. Brda immediately transferred the shares of common stock reported in this transaction to the John A. Brda Trust (the "Trust"). 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.