Berger Alexander (Ferdinand Diederik) 4
4 · La Cortez Energy, Inc. · Filed Nov 15, 2010
Insider Transaction Report
Form 4
La Cortez Energy, Inc.LCTZ.OB
Transactions
- Award
Restricted Stock Units
2010-09-23+50,000→ 50,000 total(indirect: See footnote)→ Common Stock (50,000 underlying) - Award
Stock Option
2010-03-02+100,000→ 100,000 total(indirect: See footnote)Exercise: $2.11Exp: 2020-03-01→ Common Stock (100,000 underlying)
Footnotes (4)
- [F1]Each restricted stock unit represents a contingent right to receive one share of common stock of the Issuer.
- [F2]Restricted stock units vest in three equal annual installments beginning September 23, 2011.
- [F3]Alexander Berger is a director of the Company and is the CEO of Oranje-Nassau Energie B.V. ("Oranje-Nassau"). On request of Avante Petroleum S.A. ("Avante"), which is a stockholder of the Company, Oranje-Nassau is managing Avante's interest in the Company, and Alexander Berger is acting as Avante's director nominee. Under the terms of Mr. Berger's employment with Oranje-Nassau, Oranje-Nassau is the beneficial owner of the options granted to Mr. Berger as compensation for his services as a director of the Company. Avante Petroleum may also be deemed to be a beneficial owner of the options. Mr. Berger disclaims beneficial ownership of these securities.
- [F4]The options vest as follows: 33,334 shares on March 2, 2011; 33,333 shares vest on March 2, 2012; and 33,333 shares vest on March 2, 2013.