SEC Form 4 · accession 0001144204-15-059105
Glori Energy Inc. · GLRI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kevin Guilbeau
Director
Period of report
Oct 8, 2015
Accepted (ET)
Oct 13, 2015 · 10:42 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001597131
Table I — non-derivative securities
No Table I lines on this filing.
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)F1 | $0.78 | Oct 8, 2015 | A | 500,000 | A | — | Oct 8, 2025 | Common Stock | 500,000 | 500,000 | D |
| Stock Option (right to buy)F2 | $0.78 | Oct 8, 2015 | A | 30,000 | A | — | Oct 8, 2025 | Common Stock | 30,000 | 30,000 | D |
Explanation of responses
- F1The option vests as follows: (i) 25% vests 12 months after the grant date and an additional 1/48 vests on the last day of each of the subsequent 36 months, or (ii) if the Company fails to effect certain amendments of its long term incentive plan as provided in Mr. Guilbeau's Executive Chairman Agreement, 50% vests 12 months after the grant date and an additional 1/72 vests on the last day of each of the subsequent 36 months.
- F2The option vests as follows: When the Company's closing share price averages $8.00 per share for 10 consecutive trading days (as adjusted for reverse stock splits or similar activity), the shares shall vest. This grant is part of an award of 100,000 performance options, the remainder of which vest upon the fulfillment of certain other contingencies and conditions.