SEC Form 4 · accession 0001437749-16-035387
Enservco Corp · ENSV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Keith Jonathan Behrens
Director
Period of report
Jul 18, 2016
Accepted (ET)
Jul 20, 2016 · 3:31 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000319458
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 OptionF1 | $2.49 | Jul 18, 2016 | D | 100,000 | D | — | Jul 10, 2019 | Common Stock | 100,000 | 100,000 | D |
| Stock OptionF3,F2 | $2.49 | Jul 18, 2016 | A | 100,000 | A | — | Jul 10, 2019 | Common Stock | 100,000 | 100,000 | D |
Explanation of responses
- F1This transaction involves partial rescission of a prior grant pursuant to an agreement dated July 18, 2016 between the Company and the Reporting Person in connection with securities granted which were in excess of the limits authorized by Enservco's 2010 Stock Incentive Plan. As of the date of the rescission, the forfeited options to acquire 100,000 shares were vested. Options to acquire 100,000 shares remain vested as of the date hereof.
- F2The exercise price per share of the new option grant is the higher of the exercise price of the forfeited options or the closing sale price of the Company's common stock on July 7, 2016, the date of approval of the new option grant and related agreements by a special independent committee of the Board of Directors (the "Special Committee").
- F3The options were granted pursuant to an agreement dated July 18, 2016 between the Company and the Reporting Person and are subject to approval by Enservco's stockholders of its 2016 Stock Incentive Plan (the "2016 Plan"). If the 2016 Plan is approved by stockholders, options to acquire 100,000 shares will vest on the date of stockholder approval.