SEC Form 4 · accession 0001213900-16-014508
LILIS ENERGY, INC. · LLEX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kevin K Nanke
Officer — Executive Vice President & CFO
Period of report
Jun 23, 2016
Accepted (ET)
Jun 27, 2016 · 8:05 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 StockF2,F1 | Jun 23, 2016 | C | 90,909 | — | A | 90,919 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Subordinated Convertible NoteF1,F2 | — | Jun 23, 2016 | C | — | D | — | — | Common Stock | 90,909 | 0 | D |
| Stock Option (Right to Buy)F3 | $1.34 | Jun 24, 2016 | A | 625,000 | A | — | Jun 24, 2026 | Common Stock | 625 | 625,000 | D |
Explanation of responses
- F1The Subordinated Convertible Notes held by the Reporting Person was acquired and then converted in full into Lilis Energy, Inc. common stock at $1.10 on June 23, 2016 and was set to mature on April 1, 2017.
- F2All share amounts that appear in this report have been adjusted to reflect a 1-for-10 reverse stock split of Lilis Energy, Inc.'s outstanding common stock effected on June 23, 2016.
- F3This 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.