SEC Form 4 · accession 0000899243-17-009556
Carbon Energy Corp · CRBO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Yorktown XI Associates LLC
10% Owner
Period of report
Apr 3, 2017
Accepted (ET)
Apr 5, 2017 · 7:55 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000086264
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WarrantF1,F2,F3,F4 | $7.20 | Apr 3, 2017 | P | 408,334 | A | Apr 3, 2017 | Apr 3, 2024 | Common Stock | 408,334 | 408,334 | I |
Explanation of responses
- F1The warrant gives Yorktown Energy Partners XI, L.P. ("Yorktown XI") the right to purchase a number of shares of common stock of Carbon Natural Gas Company (the "Issuer") determined, as of the time of exercise, by dividing the aggregate Priority Amount attributable to Yorktown XI's Class A units of Carbon Appalachian Company, LLC, a Delaware limited liability company ("CAC"), then held by Yorktown XI by the exercise price then in effect. The number of shares of common stock of the Issuer and the exercise price are subject to certain adjustments from time to time as set forth in the warrant, including adjustments upon the subdivision or combination of shares of common stock of the Issuer, payment of dividends by the Issuer, distributions by CAC, and additional capital contributions made by Yorktown XI to CAC. The amounts set forth above represent the number of shares of common stock and the exercise price as of the date of the issuance of the warrant.
- F2(continued from Footnote 1) In consideration of the exercise of the warrant, Yorktown XI shall transfer and assign to the Issuer a number of Class A units of CAC in accordance with the formula set forth in the warrant.
- F3These securities are directly owned by Yorktown XI. Yorktown XI Associates LLC ("Yorktown XI Associates") is the sole general partner of Yorktown XI Company LP, the sole general partner of Yorktown XI.
- F4Yorktown XI Associates disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that Yorktown XI Associates is the beneficial owner of the securities for Section 16 or any other purpose.