SEC Form 4 · accession 0001144204-16-114545
LILIS ENERGY, INC. · LLEX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Peter Benz
Director
Period of report
Jul 25, 2016
Accepted (ET)
Jul 26, 2016 · 5:17 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001437557
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jul 25, 2016 | A | 10,000 | — | A | 1,095,234 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F3,F4 | $1.32 | Jul 25, 2016 | A | 45,000 | A | — | — | Common Stock | 45,000 | 45,000 | D |
Explanation of responses
- F1Represents restricted stock granted by the Issuer pursuant to the 2016 Omnibus Incentive Plan. These shares vest over three years, with 34% vesting on the date of the first anniversary of the grant, 33% vesting on the second anniversary of the date of the grant and 33% vesting on the third anniversary of the date of the grant, subject to continued service through each vesting date.
- F2This includes shares of Issuer common stock held by (i) LMIF Investments, LLC ("LMIF"), Longview Marquis Master Fund, L.P. ("Longview") and SMF Investments, LLC ("SMF"). The natural persons with ultimate voting or investment control over the shares of common stock held by LMIF, Longview and SMF are the reporting person, S. Michael Rudolph and Merrick Okamoto. As a result, the reporting person may be deemed to have voting or investment control over these shares. The reporting person disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein. The filing of this statement shall not be deemed to be an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, the reporting person is the beneficial owners of any securities reported herein.
- F3Represents options to purchase common stock granted by the Issuer pursuant to the 2016 Omnibus Incentive Plan, which vest, and become exercisable, in four installments. 25,000 options which vest immediately and then in three equal installments on each of July 25, 2017, July 25, 2018 and July 25, 2019, subject to service through each vesting date.
- F4This option to purchase common stock expires ten years from the date the options first vest and become exercisable.