SEC Form 4 · accession 0001437749-18-011993
Enservco Corp · ENSV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kevin Kersting
Officer — Chief Operating Officer
Period of report
Jun 14, 2018
Accepted (ET)
Jun 18, 2018 · 2:43 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000319458
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jun 14, 2018 | A | 300,000 | $0.00 | A | 300,000 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Shares acquired pursuant to a grant of restricted stock under the Company's 2016 Stock Incentive Plan. Shares vest as follows: (i) 100,000 shares are subject to time vesting in equal amounts on each of the first three anniversaries of December 31, 2017; and (ii) 200,000 shares are subject to performance vesting upon the Company achieving the following performance goals: (x) 120,000 shares vest upon the Company's common stock achieving a 90-day moving average price of at least $2.25 per share, adjusted for stock splits and distributions of equity (if any) and (y) 80,000 shares vest upon the Company achieving a ratio of trailing twelve month EBITDA to debt (defined as the principal balance of borrowings) of 1.50 to 1.00; in each case subject to Mr. Kersting's continued employment with the Company.