Oilsands Quest Inc 4

Accession 0001209191-07-054286

CIK 0001096791operating

View on SEC.gov Company Profile

Filed

Sep 18, 8:00 PM ET

Accepted

Sep 19, 5:29 PM ET

Size

14.6 KB

Accession

0001209191-07-054286

Insider Transaction Report

Form 4

Period: 2007-09-17

Oilsands Quest IncBQI

Kimball Errin

Vice President, Exploration

Transactions

Exercise/Conversion
Common Stock
2007-09-17+1,646,000→ 2,476,400 total
Exercise/Conversion
Exchangeable Shares
2007-09-17−1,646,000→ 823,000 total
Exercise: $0.00From: 2006-08-14Exp: 2013-08-14→ Common Stock (2,469,000 underlying)

Holdings

Exchangeable Shares
Exercise: $0.00From: 2007-05-01Exp: 2013-08-14→ Common Stock (823,000 underlying)
823,000
Stock Options
Exercise: $5.05From: 2006-08-23Exp: 2011-08-23→ CommonStock (150,000 underlying)
150,000
Stock Options
Exercise: $4.27From: 2007-08-01Exp: 2012-08-01→ Common Stock (400,000 underlying)
400,000

Footnotes (7)

[F1]Exchangeable Shares were issued by Oilsands Quest Sask, Inc., a subsidiary of the Company, pursuant to a Reorganization Agreement between the Company and OQI Sask. 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 Sask on August 14, 2006. The Exchangeable Shares expire on August 14, 2013. This transaction is exempt from Section 16(b) pursuant to Rule 16b-3(d).
[F2]Includes vested options to acquire 823,000 Exchangeable Shares all of which expire on May 1, 2011.
[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.
[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 Section 16(b) 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 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 Section 16(b) pursuant to Rule 16b-3(d).
[F6]Mr. Kimball was granted 400,000 options pursuant to the Company's 2006 Stock Option Plan on August 1, 2007. The options vest either (i) 25% immediately and 25% each year for three years after the date of grant (August 1, 2008, August 1, 2009, and August 1, 2010); or (ii) 100% vesting upon a merger, acquisition, sale or a change in control. This transaction is exempt from Section 16(b) pursuant to Rule 16b-3(d).
[F7]This transaction is exempt from Section 16(b) pursuant to Rule 16b-3(d).

Documents

1 file

4
bdn50018_bdn1ek.xmlPrimary
MAIN DOCUMENT DESCRIPTION

Issuer

Oilsands Quest Inc

CIK 0001096791

→

Entity typeoperating

Related Parties

filerCIK 0001096791

Filing Metadata

Form type: 4
Filed: Sep 18, 8:00 PM ET
Accepted: Sep 19, 5:29 PM ET
Size: 14.6 KB

View on SEC.gov