SEC Form 3 · accession 0001104659-19-010435
Epsilon Energy Ltd. · EPSN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Period of report
Feb 14, 2019
Accepted (ET)
Feb 25, 2019 · 9:34 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001726126
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common SharesF1 | holding | — | — | — | 5,498,419 | I | See Footnote | |
| Common Shares | holding | — | — | — | 2,500 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option (right to buy)F2 | $7.34 | holding | — | — | — | — | — | Common Shares | 10,000 | — | D |
| Restricted Stock GrantF5,F3 | — | holding | — | — | — | — | — | Common Shares | 5,000 | — | D |
| Restricted Stock GrantF5,F4 | — | holding | — | — | — | — | — | Common Shares | 9,000 | — | D |
Explanation of responses
- F1These shares are owned directly by JVL Advisors, L.L.C. ("JVL"). Mr. Lovoi, as the managing partner of JVL, exercises voting power and dispositive power with respect to the Common Shares held by JVL.
- F2The options are fully vested and expire on June 5, 2022.
- F3This Restricted Stock Grant will vest in equal parts on December 20, 2019 and December 20, 2020, as long as Mr. Lovoi is still a director of Epsilon at each applicable vesting date. Otherwise, the Restricted Stock Grant will be forfeited.
- F4Vesting evenly at each anniversary of the grant date (December 31, 2018) over a three year period, as long as Mr. Lovoi is still a director of Epsilon at each applicable vesting date. Otherwise, the Restricted Stock Grant will be forfeited.
- F5Upon vesting, the Restricted Stock Grants convert into Common Shares on a one-for-one basis.