SEC Form 4 · accession 0001144204-17-032918
LILIS ENERGY, INC. · LLEX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Abraham Mirman
Officer — Chief Executive Officer · Director
Period of report
Jun 9, 2017
Accepted (ET)
Jun 16, 2017 · 7:48 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 | Jun 16, 2017 | A | 389,657 | — | A | 2,547,983 | 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) | $1.34 | Jun 9, 2017 | D | 250,000 | D | Jun 24, 2016 | Jun 24, 2026 | Common Stock | 250,000 | 1,000,000 | D |
| Stock Option (Right to Buy) | $2.98 | Jun 9, 2017 | D | 500,000 | D | Dec 15, 2016 | Dec 15, 2026 | Common Stock | 500,000 | 0 | D |
| Stock Option (Right to Buy)F4 | $5.31 | Jun 16, 2017 | A | 750,000 | A | — | Jun 16, 2027 | Common Stock | 750,000 | 750,000 | D |
Explanation of responses
- F1Represents restricted stock granted by the Issuer pursuant to the 2016 Omnibus Incentive Plan, as amended, or the Plan. One third of the restricted stock award vests immediately upon the grant date, with one third vesting on June 24, 2017, and the balance on June 24, 2018.
- F2This transaction involves the partial rescission of a prior grant of 1,250,000 stock options granted to the Reporting Person on June 24, 2016, 250,000 of which were in excess of the limits authorized by the Plan.
- F3This transaction involves the rescission of a prior grant of 500,000 stock options granted to the Reporting Person on December 15, 2016, all of which were in excess of the limits authorized by the Plan.
- F4One third of these options to purchase common stock vest immediately upon the grant date, with one third vesting on June 24, 2017, and the balance on June 24, 2018.