4//SEC Filing
Kimball Errin 4
Accession 0001209191-06-047599
CIK 0001096791other
Filed
Aug 24, 8:00 PM ET
Accepted
Aug 25, 8:55 PM ET
Size
12.7 KB
Accession
0001209191-06-047599
Insider Transaction Report
Form 4
Kimball Errin
Vice President, Exploration
Transactions
- Award
Stock Options
2006-08-23+150,000→ 150,000 totalExercise: $5.05From: 2006-08-23Exp: 2011-08-23→ Common Stock (150,000 underlying)
Holdings
- 823,000
Exchangeable Shares
Exercise: $0.00From: 2007-05-01Exp: 2013-08-14→ Common Stock (823,000 underlying) - 7,400
Common Stock
- 3,292,000
Exchangeable Shares
Exercise: $0.00From: 2006-08-14Exp: 2013-08-14→ Common Stock (3,292,000 underlying)
Footnotes (5)
- [F1]Exchangeable Shares were issued by Oilsands Quest, Inc., a subsidiary of the Company, pursuant to that certain Reorganization Agreement between the Company and OQI. Each Exchangeable Share is convertible into one share of the Company's Common Stock pursuant to the Voting and Exchange Trust Agreement entered into between the Company and OQI on August 14, 2006. This transaction is exempt from 16(b) reporting requirements pursuant to Rule 16b-3(d).
- [F2]Includes vested options to acquire 823,000 Exchangeable Shares all of which expire on May 1, 2011. The Exchangeable Shares expire on August 14, 2013.
- [F3]Includes unvested options to acquire 823,000 Exchangeable Shares vesting 1/3 on May 1, 2007, 1/3 on May 1, 2008, and 1/3 on May 1, 2009. These options expire on May 1, 2011, however, the Exchangeable Shares expire on August 14, 2013.
- [F4]Mr. Kimball was granted 150,000 options pursuant to the Company's 2006 Stock Option Plan on August 23, 2006. The options vest either (i) 25% immediately and 25% each year for three years after the date of grant (August 23, 2007, August 23, 2008, and August 23, 2009); or (ii) 100% vesting upon a merger, acquisition, sale or a change in control. This transaction is exempt from 16(b) reporting requirements pursuant to Rule 16b-3(d).
- [F5]Mr. Kimball was granted 150,000 options pursuant to the Company's 2006 Stock Option Plan on August 23, 2006. The options vest either (i) 25% upon a 750 million bitumen in place ("BIP") barrel count defined as the high resource (P10) estimate of bitumen in place, 50% upon a 1 billion barrel count, 75% upon a 1.25 billion BIP barrel count, and 100% upon a 1.5 billion BIP barrel count; or (ii) 100% vesting upon a merger, acquisition, sale, or change in control. This transaction is exempt from 16(b) reporting requirements pursuant to Rule 16b-3(d).
Documents
Issuer
CANWEST PETROLEUM CORP
CIK 0001096791
Entity typeother
Related Parties
1- filerCIK 0001373171
Filing Metadata
- Form type
- 4
- Filed
- Aug 24, 8:00 PM ET
- Accepted
- Aug 25, 8:55 PM ET
- Size
- 12.7 KB