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4//SEC Filing

MILNE TOM G 4

Accession 0001209191-09-005462

CIK 0001096791other
View on SEC.govCompany Profile

Filed

Jan 29, 7:00 PM ET

Accepted

Jan 30, 11:23 AM ET

Size

26.9 KB

Accession

0001209191-09-005462

Insider Transaction Report

Form 4
Period: 2009-01-28
Oilsands Quest IncBQI
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

  • Stock Option

    Exercise: $5.05From: 2006-08-23Exp: 2011-08-23→ Common Stock (100,000 underlying)
    100,000

  • Stock Option

    Exercise: $4.51From: 2008-08-01Exp: 2013-08-01→ Common Stock (150,000 underlying)
    150,000

  • Stock Option

    Exercise: $0.81From: 2008-12-09Exp: 2018-12-08→ Common Stock (100,000 underlying)
    100,000

  • Common Stock

    (indirect: By Precise Details, Inc.)
    16,800

  • Exchangeable Shares

    Exercise: $0.00From: 2006-08-14Exp: 2013-08-14→ Common Stock (2,263,320 underlying)
    2,263,250

  • Stock Option

    Exercise: $5.05From: 2006-08-23Exp: 2011-08-23→ Common Stock (100,000 underlying)
    100,000

  • Stock Option

    Exercise: $4.27From: 2007-08-01Exp: 2012-08-01→ Common Stock (150,000 underlying)
    150,000
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).

Documents

1 file

Issuer

Oilsands Quest Inc

CIK 0001096791

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Entity typeother

Related Parties

1
  • filerCIK 0001168713

Filing Metadata

Form type
4
Filed
Jan 29, 7:00 PM ET
Accepted
Jan 30, 11:23 AM ET
Size
26.9 KB
View on SEC.gov