Oilsands Quest Inc 4
4 · Oilsands Quest Inc · Filed Dec 19, 2007
Insider Transaction Report
Form 4
Phillips Ronald
Director
Transactions
- Sale
Common Stock
2007-12-18$4.18/sh−411,500$1,720,070→ 205,750 total
Holdings
- 100,000
Stock Options
Exercise: $5.05From: 2006-08-23Exp: 2011-08-23→ Common Stock (100,000 underlying) - 150,000
Stock Options
Exercise: $4.27From: 2007-08-01Exp: 2012-08-01→ Common Stock (150,000 underlying) - 400,000(indirect: By DKR Saturn Event Driven Holding Fund Ltd.)
Common Stock
- 250,000
Stock Option
Exercise: $4.62From: 2006-02-08Exp: 2008-02-08→ Common Stock (250,000 underlying) - 205,750
Exchangeable Shares
Exercise: $0.00From: 2006-08-14Exp: 2008-08-14→ Common Stock (205,750 underlying)
Footnotes (7)
- [F1]Mr. Phillips was granted 250,000 options pursuant to the Company's 2006 Stock Option Plan on February 8, 2006. This transaction is exempt from 16(b) reporting requirements pursuant to Rule 16b-3(d).
- [F2]Mr. Phillips was granted 250,000 options pursuant to the Company's 2006 Stock Option Plan on February 17, 2006. This transaction is exempt from 16(b) reporting requirements pursuant to Rule 16b-3(d).
- [F3]Mr. Phillips is Manager of this entity.
- [F4]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. The number of Exchangeable Shares includes vested options to acquire 205,750 Exchangeable Shares which expire on August 14, 2008. This transaction is exempt from 16(b) reporting requirements pursuant to Rule 16b-3(d).
- [F5]Mr. Phillips 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).
- [F6]Mr. Phillips 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).
- [F7]Mr. Phillips was granted 150,000 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 change in control. This transaction is exempt from Section 16(b) pursuant to Rule 16b 3(d).