Beatch Patti A 4
4 · Oilsands Quest Inc · Filed Mar 7, 2007
Insider Transaction Report
Form 4
Beatch Patti A
Vice Pres-Corp and Strategic
Transactions
- Purchase
Common Stock
2007-03-06$4.82/sh+4,400$21,208→ 4,400 total
Holdings
- 150,000
Stock Option
Exercise: $5.10From: 2006-09-05Exp: 2011-09-05→ Common Stock (150,000 underlying) - 25,000
Stock Option
Exercise: $3.90From: 2006-09-27Exp: 2011-09-27→ Common Stock (25,000 underlying)
Footnotes (5)
- [F1]Ms. Beatch was granted 150,000 options pursuant to the Company's 2006 Stock Option Plan on September 5, 2006. The options vest either (i) 25% immediately and 25% each year for three years after the date of grant (September 5, 2007, September 5, 2008, and September 5, 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).
- [F2]Ms. Beatch was granted 150,000 options pursuant to the Company's 2006 Stock Option Plan on September 5, 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 (as determined in accordance with National Instrument 51-101 "Standard of Disclosure for Oil and Gas Activities" issued by the securities regulatory authorities in Canada), (ii) 50% upon a 1 billion BIP barrel count, (iii) 75% upon a 1.25 billion BIP barrel count, and (iv) 100% upon a 1.5 billion BIP barrel count and three years from the date of grant; or 100% vesting upon a merger, acquisition, sale or change in control of the Company. This transaction is exempt from 16(b) reporting requirements pursuant to Rule 16b-3(d).
- [F3]Ms. Beatch was granted 25,000 options pursuant to the Company's 2006 Stock Option Plan on September 27, 2006. The options vest either (i) 25% immediately and 25% each year for three years after the date of grant (September 27, 2007, September 27, 2008, and September 27, 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).
- [F4]Ms. Beatch was granted 25,000 options pursuant to the Company's 2006 Stock Option Plan on September 27, 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 (as determined in accordance with National Instrument 51-101 "Standard of Disclosure for Oil and Gas Activities" issued by the securities regulatory authorities in Canada), (ii) 50% upon a 1 billion BIP barrel count, (iii) 75% upon a 1.25 billion BIP barrel count, and (iv) 100% upon a 1.5 billion BIP barrel count and three years from the date of grant; or 100% vesting upon a merger, acquisition, sale or change in control of the Company. This transaction is exempt from 16(b) reporting requirements pursuant to Rule 16b-3(d).
- [F5]These shares were purchased pursuant to the private placement of flow-through shares that closed on March 6, 2007 under the same terms and conditions as all participating subscribers. This transaction is exempt pursuant to Rule 16b-3(d).