Alon USA Energy, Inc. 4
4 · Alon USA Energy, Inc. · Filed Jan 11, 2017
Insider Transaction Report
Form 4
Morris Jeff D
DirectorVice Chairman of the Board
Transactions
- Conversion
Subsidiary Stock Exchange Right
2017-01-11−116,347→ 116,352 total→ Common Stock, par value $0.01 per share (116,347 underlying) - Conversion
Common Stock, par value $0.01 per share
2017-01-11+116,347→ 1,785,694 total
Footnotes (1)
- [F1]On June 20, 2012, Alon Assets, Inc., Alon Operating, Inc. (collectively, the "Subsidiaries"), Alon USA Energy, Inc. (the "Company") and the Reporting Person entered into an agreement whereby the Company agreed to exchange shares of non-voting stock of the Subsidiaries held by the Reporting Person (the "Subsidiary Shares") for up to 2,326,946 shares of the Company's common stock, par value $0.01 per share. The Subsidiary Shares held by the Reporting Person will be exchanged in 20 equal quarterly installments commencing June 29, 2012, and each such exchange shall be made without regard to the then-current market price of the Company's common stock. Under certain circumstances,the Reporting Person may elect to receive cash in lieu of Company common stock for up to 1/3 of the shares. The exchange rights have no expiration date.