DAS SATYA BRATA 4
4 · DEEP WELL OIL & GAS INC · Filed Jul 31, 2018
Insider Transaction Report
Form 4
DAS SATYA BRATA
Director
Transactions
- Exercise/Conversion
Common Shares
2018-06-08$0.05/sh+300,000$15,000→ 690,000 total - Tax Payment
Common Shares
2018-06-08$0.07/sh−214,286$15,000→ 475,714 total - Exercise/Conversion
Stock Option (right to acquire)
2018-06-08−300,000→ 0 totalExercise: $0.05Exp: 2018-06-20→ Common Stock (300,000 underlying) - Other
Stock Option (right to acquire)
2014-09-19$0.38/sh+0$0→ 600,000 total(indirect: See footnote)Exercise: $0.38Exp: 2019-09-19→ Common Stock (600,000 underlying)
Footnotes (4)
- [F1]On June 20, 2013, Deep Well Oil & Gas, Inc. (the "Issuer") granted non-qualified stock options to the reporting person to purchase up to 450,000 shares of common stock at an exercise price of $0.05 per common share, 150,000 vesting immediately and the remaining vesting one-third on June 20, 2014, and one-third on June 20, 2015, with an expiration date of June 20, 2018. In August of 2013, the reporting person exercised a portion of the June 20, 2016 non-qualified stock options for 150,000 shares of the Issuer's common stock, which such transaction was previously reported on Form 4.
- [F2]The transactions reported, in the above Table I rows 1 and 2 and Table II row 1, reflect the cashless exercise of the reporting persons stock options. As of June 8, 2018, the reporting person exercised 300,000 of the remaining non-qualified stock options issued on June 20, 2013 of which 214,286 common shares were withheld by the Issuer at the market price of $0.07 per common share to fund the cashless exercise. 85,714 common shares of the Issuer's common stock were issued to the reporting person as a result of this cashless exercise. Where the number of common shares deducted for the cashless exercise is a fraction, the number has been rounded to the nearest whole number of common shares. The cashless exercise was approved by the Board of the Issuer and a majority of shareholders under the Issuer's stock option plan as amended.
- [F3]The total number of non-derivative securities Directly and Indirectly owned by the reporting person after the transactions reported in Table I above is 1,307,381 common shares, of which 475,714 common shares are owned Directly by the reporting person and 831,667 commons shares are owned Indirectly by the reporting persons company, Cambridge Strategies Inc., a company owned 50% by the reporting person and 50% owned by the reporting persons wife.
- [F4]On September 19, 2014, the Issuer's Board granted Cambridge Strategies Inc., a company owned 50% by the reporting person and 50% owned by the reporting persons wife, options to purchase 600,000 shares each of common stock at an exercise price of $0.38 per common share, with one-third vesting immediately, one-third vesting on September 19, 2015, and one-third vesting on September 19, 2016, each with a five-year life from the original grant date. The reporting person, Indirectly through Cambridge Strategies Inc., has not exercised any of these Indirectly owned outstanding options. These options were previously disclosed on Form 4 and are again being disclosed in Table II row 2 of this Form 4.