SWANTON NORMAN F 4
4 · WARREN RESOURCES INC · Filed Jun 17, 2011
Insider Transaction Report
Form 4
SWANTON NORMAN F
DirectorChairman & CEO
Transactions
- Award
Common Stock
2011-06-15$0.51/sh+50,000$25,500→ 1,478,998 total - Exercise/Conversion
Stock Options (Right to Buy)
2011-06-15−50,000→ 350,000 totalExercise: $0.51From: 2010-03-04Exp: 2012-03-04→ Common Stock (50,000 underlying)
Footnotes (3)
- [F1]Pursuant to Mr. Swanton's divorce settlement with his ex-wife dated March 23, 2010 ("Settlement Agreement"), which was effective on April 12, 2010, he agreed to transfer 50% of the share ownership/net proceeds after first payment of all applicable taxes and costs resulting from any exercise of stock options that had been granted to him as of March 23, 2010. Mr. Swanton will continue to have voting rights to and a right of first refusal to purchase the shares in the event of a proposed sale of such shares received by his ex-wife from the exercise of the stock options.
- [F2]Excludes any shares of common stock beneficially owned by Mr. Swanton's ex-wife.
- [F3]Pursuant to Mr. Swanton's divorce Settlement Agreement he agreed to transfer 50% of the share ownership/net proceeds after first payment of all applicable taxes and costs resulting from any exercise of stock options that had been granted to him as of March 23, 2010.