Tallman Gordon G 4
4 · Oilsands Quest Inc · Filed Mar 7, 2007
Insider Transaction Report
Form 4
Tallman Gordon G
Director
Transactions
- Purchase
Common Stock
2007-03-06$4.82/sh+50,000$241,000→ 100,000 total
Holdings
- 100,000
Stock Option
Exercise: $5.05From: 2006-08-23Exp: 2011-08-23→ Common Stock (100,000 underlying)
Footnotes (3)
- [F1]Mr. Tallman was granted 100,000 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).
- [F2]Mr. Tallman was granted 100,000 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 BIP 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).
- [F3]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).