SEC Form 4 · accession 0001213900-18-012631
DEEP WELL OIL & GAS INC · DWOG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Roff
Director
Period of report
Jun 8, 2018
Accepted (ET)
Sep 17, 2018 · 12:01 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000869495
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common SharesF2 | Jun 8, 2018 | M | 300,000 | $0.05 | A | 1,062,441 | D | |
| Common SharesF2 | Jun 8, 2018 | F | 214,286 | $0.07 | D | 848,155 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to acquire)F2,F1 | $0.05 | Jun 8, 2018 | M | 300,000 | D | — | Jun 20, 2018 | Common Stock | 300,000 | 0 | D |
| Stock Option (right to acquire)F3 | $0.38 | Sep 19, 2014 | J | 0 | A | — | Sep 19, 2019 | Common Stock | 600,000 | 600,000 | D |
Explanation of responses
- F1On June 20, 2013, Deep Well Oil & Gas, Inc. (the "Issuer") granted non-qualified stock options to the reporting person to purchase up to 450,000 shares of common stock at an exercise price of $0.05 per common share, 150,000 vesting immediately and the remaining vesting one-third on June 20, 2014, and one-third on June 20, 2015, with an expiration date of June 20, 2018. In August of 2013, the reporting person exercised a portion of the June 20, 2016 non-qualified stock options for 150,000 shares of the Issuer's common stock, which such transaction was previously reported on Form 4.
- F2The transactions reported, in the above Table I rows 1 and 2 and Table II row 1, reflect the cashless exercise of the reporting persons stock options. As of June 8, 2018, the reporting person exercised 300,000 of the remaining non-qualified stock options issued on June 20, 2013 of which 214,286 common shares were withheld by the Issuer at the market price of $0.07 per common share to fund the cashless exercise. 85,714 common shares of the Issuer's common stock were issued to the reporting person as a result of this cashless exercise. Where the number of common shares deducted for the cashless exercise is a fraction, the number has been rounded to the nearest whole number of common shares. The cashless exercise was approved by the Board of the Issuer and a majority of shareholders under the Issuer's stock option plan as amended.
- F3On September 19, 2014, the Issuer's Board granted the reporting person, options to purchase 600,000 shares each of common stock at an exercise price of $0.38 per common share, with one-third vesting immediately, one-third vesting on September 19, 2015, and one-third vesting on September 19, 2016, each with a five-year life from the original grant date. The reporting person has not exercised any of these directly owned outstanding options. These options were previously disclosed on Form 4 and are again being disclosed in Table II row 2 of this Form 4.