SEC Form 4 · accession 0000061398-17-000017
TELLURIAN INC. /DE/ · TELL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Antoine Jean Lafargue
Officer — SVP - CFO, Treas, Corp Sec.
Period of report
Feb 10, 2017
Accepted (ET)
Feb 14, 2017 · 5:41 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000061398
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 10, 2017 | A | 800,000 | $0.00 | A | 878,051 | D | |
| Common StockF2 | Feb 10, 2017 | D | 62,500 | $0.00 | D | 815,551 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F4,F3 | $14.72 | Feb 10, 2017 | D | 50,000 | D | — | Aug 2, 2020 | Common Stock | 50,000 | 0 | D |
| Employee Stock Option (right to buy)F4,F5 | $8.80 | Feb 10, 2017 | D | 75,000 | D | — | Nov 30, 2021 | Common Stock | 75,000 | 0 | D |
| Employee Stock Option (right to buy)F4,F6 | $8.24 | Feb 10, 2017 | D | 103,123 | D | — | Oct 15, 2023 | Common Stock | 103,123 | 0 | D |
| Employee Stock Option (right to buy)F4 | $14.40 | Feb 10, 2017 | D | 31,250 | D | Aug 1, 2016 | Oct 31, 2024 | Common Stock | 31,250 | 0 | D |
Explanation of responses
- F1On February 10, 2017, pursuant to his employment agreement with Tellurian Services LLC, an indirect subsidiary of the issuer, dated as of February 9, 2017 (the "Employment Agreement"), the reporting person was granted 800,000 shares of restricted common stock. The restricted common stock award consists of (i) 150,000 shares that vest in equal quarterly installments over an 18-month period starting on the grant date, subject to continued employment through each applicable vesting date and (ii) 650,000 shares that vest upon the affirmative investment decision by the board of directors of the issuer.
- F2On February 10, 2017, the reporting person forfeited 62,500 shares of common stock pursuant to the Employment Agreement.
- F3These stock options vested equally over three years beginning on August 2, 2011 through August 2, 2013
- F4On February 10, 2017, pursuant to the Employment Agreement, the reporting person forfeited these vested stock options and the 62,500 shares of restricted common stock referenced in footnote (2) above in exchange for the 800,000 shares of restricted common stock referenced in footnote (1) above.
- F550,000 of these stock option vested equally over two years beginning on November 11, 2012 through November 11, 2013. The remaining 25,000 stock options vested on March 31, 2014.
- F625,780 of these stock options vested on March 31, 2014. The remaining 77,343 shares vested on August 1, 2016.