CARTER STEVEN LEE 4

4 · STRATEGIC AMERICAN OIL CORP · Filed May 9, 2011

Form 4

Period: 2011-04-21

Vice Presient Operations

Transactions

Award
Employee Stock Option (right to buy)
2011-04-21+12,500,000→ 13,800,000 total
Exercise: $0.10From: 2011-10-21Exp: 2021-10-21→ Common shares (12,500,000 underlying)
Disposition to Issuer
Employee Stock Option (right to buy)
2011-04-21−700,000→ 0 total
Exercise: $0.20Exp: 2013-08-16→ Common stock (700,000 underlying)
Award
Employee Stock Option (right to buy)
2011-04-21+700,000→ 1,300,000 total
Exercise: $0.10Exp: 2013-08-16→ Common stock (700,000 underlying)
Disposition to Issuer
Employee Stock Option (right to buy)
2011-04-21−600,000→ 700,000 total
Exercise: $0.35Exp: 2017-07-05→ Common Stock (600,000 underlying)
Award
Employee Stock Option (right to buy)
2011-04-21+600,000→ 600,000 total
Exercise: $0.10Exp: 2017-07-05→ Common stock (600,000 underlying)

Footnotes (3)

[F1]The four reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option.
[F2]The options vest as to 2,500,000 on October 21, 2011; 2,500,000 on April 21, 2012; 2,500,000 on October 21, 2012; 2,500,000 on April 21, 2013 and the remaining 2,500,000 on October 21, 2013.
[F3]Granted pursuant to and in accordance with the terms of the Issuer's stock incentive plan.

Documents

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