4//SEC Filing
HERRON HAROLD F 4
Accession 0000101594-05-000007
CIK 0000101594other
Filed
Jan 3, 7:00 PM ET
Accepted
Jan 4, 5:19 PM ET
Size
20.9 KB
Accession
0000101594-05-000007
Insider Transaction Report
Form 4
US ENERGY CORPUSEG
HERRON HAROLD F
DirectorSR VICE PRESIDENT
Transactions
- Other
U.S. Energy Common Stock
2005-01-03+2,500→ 108,375 total
Holdings
- 18,049(indirect: By ESOP)
U.S. Energy Common Stock
- 33,700
Employee Option 2 (Right to Buy)
Exercise: $2.40From: 2001-01-10Exp: 2011-01-09→ U.S. Energy Common Stock (33,700 underlying) - 125,000
Employee Option 5 (Right to Buy)
Exercise: $2.46From: 2004-07-01Exp: 2014-06-30→ U.S. Energy Common Stock (125,000 underlying) - 20,109
Employee Option 1a (Right to Buy)
Exercise: $2.00From: 1998-12-04Exp: 2008-09-25→ U.S. Energy Common Stock (20,109 underlying) - 812,915(indirect: By Corporation)
U.S. Energy Common Stock
- 4,500(indirect: By Children)
U.S. Energy Common Stock
- 50,000
Employee Option 3 (Right to Buy)
Exercise: $3.90From: 2001-12-07Exp: 2011-12-06→ U.S. Energy Common Stock (50,000 underlying) - 155,811(indirect: By Trust)
U.S. Energy Common Stock
- 17,391
Employee Option 1 (Right to Buy)
Exercise: $2.88From: 1998-12-04Exp: 2008-09-05→ U.S. Energy Common Stock (17,391 underlying) - 48,500
Employee Option 4 (Right to Buy)
Exercise: $2.25From: 2002-08-08Exp: 2011-12-07→ U.S. Energy Common Stock (48,500 underlying)
Footnotes (12)
- [F1]Shares issued to the Reporting Person under the USEG 2001 Stock Compensation Plan. The issuance of these shares is for the funding obligation under the plan for the first quarter of the calendar year ending December 31, 2005. The Issuer has agreed under the terms of the Plan to pay all taxes due. The Reporting Person has agreed not to sell these shares to the market or pledge them on obligations until after his (i) retirement; (ii) total disability or (iii) in the case of the death of the Reporting Person his estate may sell the shares of stock.
- [F10]Includes shares held in the ESOP which are not allocated to accounts established for the benefit of specific plan participants. The Reporting Person, as an ESOP Trustee, exercises the voting powers with respect to such unallocated shares.
- [F11]Includes stock options granted under the Issuer's 1998 Incentive Stock Option Plan and exempt under Rule 16b-3.
- [F12]Includes stock options granted under the Issuer's 2001 Incentive Stock Option Plan and exempt under Rule 16b-3.
- [F2]Includes 50,425 shares held directly by the Reporting Person.
- [F3]Includes 11,000 shares held in an Individual Retirement Account (IRA) for the benefit of the Reporting Person.
- [F4]Includes 16,950 shares issued under the Restricted Stock Bonus Plan and 30,000 shares issued under the 1996 Stock Award program all of which are subject to forfeiture by the Reporting Person.Shares issued under the 1996 Stock Award program vest over a 5-year period at the rate of 20% per year, The forfeitable shares issued under both plans are deemed 'earned out' by the Reporting Person: (i) if he is continuously employed by USEG until he retires; (ii) if he becomes disabled; (iii) upon his death, or (iv) if the shares are claimed within three years following the occurrence of (i) (ii) (iii). The treasurer of USEG holds the shares in trust for the benefit of the Reporting Person, while non-employee directors of USEG exercise shared voting and dispositive rights over all forfeitable shares. Distributions to the Reporting Person will not be separately reported. The acquisitions of the shares by the Reporting Person from both the Bonus Plan and the Award Program are exempt under Rule 16
- [F5]Includes 512,359 shares held by Crested Corp. (Crested), a majority-owned subsidiary of USEG. The Reporting Person is an Officer and/or Director of both USEG and Crested and is not a controlling shareholder and does not have or share investment controll over these shares, and therefore does not have a pecuniary interest in the USEG shares held by Crested, under rule 16a-1(a)(2)(iii).
- [F6]Includes 175,000 shares held by Sutter Gold Mining Company (SGMC), a subsidiary of USEG. The Reporting Person is an Officer and/or Director of both USEG and SGMC and is not a controlling shareholder and does not have or share investment controll over these shares, and therefore does not have a pecuniary interest in the USEG shares held by SGMC, under rule 16a-1(a)(2)(iii).
- [F7]Includes 125,556 shares held by Plateau Resources Limited (Plateau), a wholly owned subsidiary of USEG. The Reporting Person is an Officer and/or Director of both USEG and Plateau and is not a controlling shareholder and does not have or share investment controll over these shares, and therefore does not have a pecuniary interest in the USEG shares held by Plateau, under rule 16a-1(a)(2)(iii).
- [F8]Includes 4,500 shares indirectly held by the Reporting Person as Custodian for minor children under the Wyoming Uniform Transfers to Minors Act. The Reporting Person disclaims beneficial and pecuniary interest in these shares.
- [F9]Shares held in the U.S. Energy Corp. Employee Stock Ownership Plan (the 'ESOP') in an account established for the benefit of the Reporting Person. Subsequent to the final year end close the number of shares issued to the Reporting Person's ESOP account has been adjusted from shares forfieted by Plan participants.
Documents
Issuer
US ENERGY CORP
CIK 0000101594
Entity typeother
Related Parties
1- filerCIK 0001065873
Filing Metadata
- Form type
- 4
- Filed
- Jan 3, 7:00 PM ET
- Accepted
- Jan 4, 5:19 PM ET
- Size
- 20.9 KB