Malys Gerald J 4

4 · NATIONAL COAL CORP · Filed Dec 17, 2010

Form 4

Period: 2010-12-15

Director

Transactions

Disposition to Issuer
Stock Option (Right to Buy)
2009-05-28−2,500→ 0 total
Exercise: $7.12Exp: 2019-05-28→ Common Stock (2,500 underlying)
Disposition to Issuer
Stock Option (Right to Buy)
2010-01-08−18,750→ 0 total
Exercise: $4.56Exp: 2016-11-01→ Common Stock (18,750 underlying)
Disposition to Issuer
Stock Option (Right to Buy)
2010-01-08−2,500→ 0 total
Exercise: $4.56Exp: 2018-06-26→ Common Stock (2,500 underlying)
Disposition to Issuer
Common Stock
2010-12-15$1.00/sh−4,625$4,625→ 0 total
Disposition to Issuer
Stock Option (Right to Buy)
2009-08-11−2,563→ 0 total
Exercise: $3.88From: 2010-08-11Exp: 2019-08-11→ Common Stock (2,563 underlying)
Disposition to Issuer
Stock Option (Right to Buy)
2010-06-28$0.34/sh−7,500$2,550→ 0 total
Exercise: $0.66Exp: 2020-06-28→ Common Stock (7,500 underlying)
Disposition to Issuer
Stock Option (Right to Buy)
2010-01-08−2,500→ 0 total
Exercise: $4.56Exp: 2018-04-25→ Common Stock (2,500 underlying)

Footnotes (8)

[F1]Disposed of in connection with the merger of National Coal Corp. with and into Ranger Coal Holdings, LLC, effective December 15, 2010 (the "Merger") pursuant to the Agreement and Plan of Merger dated September 27, 2010, as subsequently amended on December 10, 2010, among National Coal Corp., Ranger Energy Investments, LLC and Ranger Coal Holdings, LLC. In connection with the Merger, the shares listed were exchanged for the right to receive $1.00 per share in cash.
[F2]This option was to vest 100% on the earlier of (i) the date of the 2011 Annual Meeting of Shareholders of National Coal Corp. and (ii) June 28, 2011. The vesting of this option was accelerated in connection with the Merger.
[F3]This option was cancelled in the Merger in exchange for a cash payment of $2,550, representing the number of shares of common stock subject to such option multiplied by the amount by which $1.00 exceeds the exercise price of the option.
[F4]This option was to vest in four equal annual installments beginning on November 1, 2007.
[F5]This option was cancelled in the Merger for no consideration.
[F6]This option provided for full vesting on April 25, 2008.
[F7]This option provided for vesting in full on June 26, 2009.
[F8]This option vested 100% on the earlier of (i) the date of the 2010 Annual Meeting of Shareholders of National Coal Corp. and (ii) May 28, 2010.

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