SEC Form 4 · accession 0001437557-19-000016
LILIS ENERGY, INC. · LLEX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David M. Wood
Director
Period of report
Feb 11, 2019
Accepted (ET)
Feb 13, 2019 · 4:29 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 | Feb 11, 2019 | A | 10,000 | $2.17 | A | 40,000 | D | |
| Common StockF2 | Feb 11, 2019 | A | 34,562 | $2.17 | A | 74,562 | 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 | $2.17 | Feb 11, 2019 | 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 for Reporting Person's service on the Board of Directors. These shares vest over three years, with 34% vesting on the first anniversary of the date 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.
- F2Represents restricted stock granted by the Issuer to the Reporting Person on January 31, 2019 for the Reporting Person's service on the Board of Directors.
- F3Represents option to purchase common stock granted by the Issuer pursuant to the 2016 Omnibus Incentive Plan for Reporting Person's service on the Board of Directors, which vest, and become exercisable, in four installments: 25,000 options which vest immediately, and then in three equal installments on each of January 31, 2020, January 31, 2021, and January 31, 2022, subject to continued service through each vesting date.
- F4This option to purchase common stock expires ten years from the date the options first vest and become exercisable.