MILNE TOM G 4
4 · Oilsands Quest Inc · Filed Jan 30, 2009
Insider Transaction Report
Form 4
MILNE TOM G
Director
Transactions
- Sale
Common Stock
2009-01-28$1.05/sh−18,660$19,593→ 169,390 total(indirect: By Spouse) - Sale
Common Stock
2009-01-29$1.03/sh−1,200$1,236→ 86,850 total(indirect: By Spouse) - Sale
Common Stock
2009-01-29$1.01/sh−23,348$23,581→ 0 total(indirect: By Spouse) - Conversion
Exchangeable Shares
2009-01-28−188,050→ 0 total(indirect: By Spouse)Exercise: $0.00From: 2006-08-14Exp: 2013-08-14→ Common Stock (188,050 underlying) - Conversion
Common Stock
2009-01-28+188,050→ 188,050 total(indirect: By Spouse) - Sale
Common Stock
2009-01-28$1.03/sh−81,340$83,780→ 88,050 total(indirect: By Spouse) - Sale
Common Stock
2009-01-29$1.03/sh−63,502$65,407→ 23,348 total(indirect: By Spouse)
Holdings
- 100,000
Stock Option
Exercise: $5.05From: 2006-08-23Exp: 2011-08-23→ Common Stock (100,000 underlying) - 150,000
Stock Option
Exercise: $4.51From: 2008-08-01Exp: 2013-08-01→ Common Stock (150,000 underlying) - 100,000
Stock Option
Exercise: $0.81From: 2008-12-09Exp: 2018-12-08→ Common Stock (100,000 underlying) - 16,800(indirect: By Precise Details, Inc.)
Common Stock
- 2,263,250
Exchangeable Shares
Exercise: $0.00From: 2006-08-14Exp: 2013-08-14→ Common Stock (2,263,320 underlying) - 100,000
Stock Option
Exercise: $5.05From: 2006-08-23Exp: 2011-08-23→ Common Stock (100,000 underlying) - 150,000
Stock Option
Exercise: $4.27From: 2007-08-01Exp: 2012-08-01→ Common Stock (150,000 underlying)
Footnotes (10)
- [F1]Exchangeable Shares were issued by a subsidiary of the Company, pursuant to that certain Reorganization Agreement between the Company and its subsidiary. 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 its subsidiary on August 14, 2006. This transaction is exempt from Section 16(b) pursuant to Rule 16b-3(d).
- [F10]Exchangeable Shares converted to Common Stock (Exchangeable Shares are described in footnote 4 above). Cash consideration was paid to the Company to exercise options to acquire the Exchangeable Shares, however the exchange of the Exchangeable Shares into shares of Common Stock did not require separate cash consideration to be paid to the Company. This transaction is exempt from Section 16(b) pursuant toRule 16b-6(b).
- [F2]Includes vested options to acquire 1,851,750 Exchangeable Shares of which 617,250 expire on November 12, 2009, 823,000 expire on December 15, 2010, and 411,500 expire on May 1, 2011. The Exchangeable Shares expire on August 14, 2013.
- [F3]Mr. Milne was granted 100,000 options pursuant to the Company's 2006 Stock Option Plan on August 23, 2006. The options vest either: (A) 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 (B) 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).
- [F4]Mr. Milne was granted 100,000 options pursuant to the Company's 2006 Stock Option Plan on August 23, 2006. The options vest either: (A) 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 and three years from the date of grant; or (B) 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).
- [F5]Mr. Milne is a director of this entity. Mr. Milne disclains any investment or voting control of these shares.
- [F6]Mr. Milne disclaims any investment or voting control of these shares.
- [F7]Mr. Milne 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 a change in control. This transaction is exempt from 16(b) reporting requirements pursuant to Rule 16b-3(d).
- [F8]Mr. Milne was granted 150,000 options pursuant to the Company's 2006 Stock Option Plan on August 1, 2008. The options vest either: (i) 25% immediately and 25% each year for three years after the date of grant (August 1, 2009, August 1, 2010 and August 1, 2011); 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).
- [F9]Mr. Milne was granted 100,000 options pursuant to the Company's 2006 Stock Option Plan on December 9, 2008. The options vest either: (i) 25% immediately and 25% on each six month anniversary date from the date of grant (June 9, 2009, December 9, 2009 and June 9, 2010); 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).