Statement of Changes in Beneficial Ownership (4)
23 Februar 2018 - 8:56PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0287
Estimated average burden
hours per response...
0.5
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Ayoade Sakiru Adefemi (Femi)
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2. Issuer Name
and
Ticker or Trading Symbol
Erin Energy Corp.
[
ERN
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__
X
__ Director
_____ 10% Owner
__
X
__ Officer (give title below)
_____ Other (specify below)
Chief Executive Officer
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(Last)
(First)
(Middle)
1330 POST OAK BLVD., SUITE 2250
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3. Date of Earliest Transaction
(MM/DD/YYYY)
2/21/2018
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(Street)
HOUSTON, TX 77056
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_
X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock
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2/21/2018
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A
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15051
(1)
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A
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(2)
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44217
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D
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Common Stock
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2/21/2018
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A
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88000
(3)
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A
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(2)
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132217
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D
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Common Stock
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2/21/2018
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A
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88000
(4)
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A
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(2)
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220217
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D
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Table II - Derivative Securities Beneficially Owned (
e.g.
, puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code
(Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
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8. Price of Derivative Security
(Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Explanation of Responses:
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(1)
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Restricted Common stock of Issuer granted to Reporting Person on February 21, 2018 pursuant to Issuer's Amended 2009 Equity Incentive Plan in lieu of Reporting Person's 2017 annual incentive for payout in 2018. 100% of the shares become vested and nonforfeitable on the date of Grant and are subject to the terms and conditions of the Restricted Shares Grant Agreement.
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(2)
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The price per share is $0. The grant was valued at $3.75 per share.
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(3)
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Restricted common stock of Issuer granted to Reporting Person on February 21, 2018 pursuant to Issuer's Amended 2009 Equity Incentive Plan and subject thereto. Grant of restricted shares subject to forfeiture. 50% of shares become vested on the one-year anniversary of Grant Date and 50% become vested on the two-year anniversary of Grant Date, for so long as the recipient of the stock remains an employee of, or consultant to, the Company and subject to the terms and conditions of the Restricted Shares Grant Agreement.
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(4)
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Restricted common stock of Issuer granted to Reporting Person on February 21, 2018 pursuant to Issuer's Amended 2009 Equity Incentive Plan and subject thereto. Vesting occurs on the three-year anniversary of the grant date, based on the relative Total Shareholder Return ("TSR")of the Issuer as compared to the TSR of each of the companies in the Issuer's peer group over the three-year period beginning on January 1, 2018 through December 31, 2020, and subject to the Reporting Person's continuous employment through the vesting date and the terms and conditions of the Performance Shares Grant Agreement. Shares reported represent the target shares, and actual vesting could be anywhere from 0 to 150% of the number of shares initially granted, with any unvested shares subject to forfeiture.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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Ayoade Sakiru Adefemi (Femi)
1330 POST OAK BLVD., SUITE 2250
HOUSTON, TX 77056
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X
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Chief Executive Officer
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Signatures
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Heidi Wong
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2/23/2018
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 4(b)(v).
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**
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See
18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient,
see
Instruction 6 for procedure.
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Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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