SEC Form 4 · accession 0001144204-17-006776
LILIS ENERGY, INC. · LLEX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brennan Dane Short
Officer — Chief Operating Officer
Period of report
Jan 27, 2017
Accepted (ET)
Feb 8, 2017 · 5:03 pm EST
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 | Jan 27, 2017 | A | 75,000 | — | A | 75,000 | 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)F2,F3 | $4.35 | Jan 27, 2017 | A | 250,000 | A | — | — | Common Stock | 250,000 | 250,000 | D |
Explanation of responses
- F1Represents restricted stock granted by the Issuer pursuant to the 2016 Omnibus Incentive Plan. This restricted stock award vests over two years, with 34% vesting on the date of the grant, 33% vesting on the first anniversary of the date of the grant and 33% vesting on the second anniversary of the date of the grant, subject to continued service through each vesting date.
- F2Represents options to purchase common stock granted by the Issuer pursuant to the 2016 Omnibus Incentive Plan. This option vests over two years, with 34% vesting on the date of the grant, 33% vesting on the first anniversary of the date of the grant and 33% vesting on the second anniversary of the date of the grant, subject to continued service through each vesting date.
- F3This option to purchase common stock expires ten years from the date the options first vest and become exercisable.