SEC Form 4 · accession 0001209191-16-141688
HARVEST NATURAL RESOURCES, INC. · HNR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Fajardo Oswaldo J Cisneros
Director · 10% Owner
Period of report
Sep 9, 2016
Accepted (ET)
Sep 15, 2016 · 8:10 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000845289
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, $.01 par value per shareF1 | Sep 9, 2016 | M | 53,334 | — | A | 53,334 | D | |
| Common Stock, $.01 par value per share | Sep 9, 2016 | D | 53,334 | $0.65 | D | 0 | D | |
| Common Stock, $.01 par value per share | holding | — | — | — | 8,667,597 | I | by CT Energy Holding SRL |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF1 | — | Sep 9, 2016 | M | 53,334 | D | Sep 9, 2016 | Sep 9, 2016 | Common Stock, $.01 par value per share | 53,334 | 0 | D |
| WarrantF2 | $1.25 | holding | — | — | — | — | — | Common Stock, $.01 par value per share | 34,070,820 | 34,070,820 | I |
Explanation of responses
- F1Each share of phantom stock is the economic equivalent of one share of HNR common stock. The Company settled such phantom stock for cash. Although reflected in Table I, no common stock was actually acquired or disposed of.
- F2The warrant (the "Warrant") is exercisable for 34,070,820 shares of the Issuer's common stock at an initial exercise price of $1.25 per share, which is subject to anti-dilution adjustments. The Warrant expires on June 19, 2018 (unless exercised sooner) and may not be exercised until the volume weighted average price of the Issuer's Common Stock as reported on the New York Stock Exchange equals or exceeds $2.50 per share over any 30-day period.