SEC Form 4 · accession 0001144204-17-051923
LILIS ENERGY, INC. · LLEX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brennan Dane Short
Officer — EVP - Chief Operating Officer
Period of report
Oct 5, 2017
Accepted (ET)
Oct 10, 2017 · 6:00 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 | Oct 5, 2017 | A | 400,000 | — | A | 475,000 | D | |
| Common StockF2 | Oct 5, 2017 | F | 49,706 | — | D | 425,294 | D |
Table II — derivative securities
No Table II lines on this filing.
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.
- F2This forfeiture was undertaken solely to satisfy tax withholding liabilities relating to the vesting of restricted share awards held by the Reporting Person. The Reporting Person made the withholding election on October 5, 2017 with respect to restricted shares that vested on October 5, 2017. The aggregate value of the common shares so withheld was based on the closing price of the common shares on the NYSE American on the vesting date, which was $5.00.