Camp Brett S 4
4 · GeoMet, Inc. · Filed Sep 16, 2010
Insider Transaction Report
Form 4
GeoMet, Inc.GMET
Camp Brett S
Senior VP - Operations
Transactions
- Exercise/Conversion
Subscription Rights
2010-09-14−12,500→ 0 totalExercise: $10.00From: 2010-07-29Exp: 2010-08-18→ Series A Convertible Redeemable Preferred Stock (12,500 underlying) - Exercise/Conversion
Series A Convertible Redeemable Preferred Stock
2010-09-14$10.00/sh+12,500$125,000→ 12,500 totalExercise: $1.30→ Common Stock (96,153 underlying)
Footnotes (4)
- [F1]The Series A Convertible Redeemed Preferred Stock (the "Preferred Stock") is entitled to be converted by the holder thereof into a number of shares of common stock determined by dividing (i) the sum of (A) $10.00 plus (B) accrued but unpaid dividends by (ii) the conversion price, which is initially $1.30. Each share of Preferred Stock is initially convertible into 7.692308 shares of common stock. The conversion price and resulting number of shares of common stock issued upon conversion of Preferred Stock will be adjusted to reflect stock splits and similar events and will be entitled to anti-dilution adjustments for any dividends paid on common stock in cash or in common stock, the issuance of additional equity securities at a price less than the conversion price on a weighted average basis, and the occurrence of certain material corporate transactions at a per share valuation less than the conversion price.
- [F2]The subscription rights expired on August 18, 2010; however, the closing of the rights offering and the issuance of the Preferred Stock did not occur until September 14, 2010.
- [F3]The Preferred Stock is convertible at any time, at the holder's election, and is redeemable on or after September 14, 2018, at the holder's election.
- [F4]Represents the exercise price of each subscription right entitling the holder to acquire, for $10.00 in cash, one share of Preferred Stock.