TEXHOMA ENERGY INC 4
4 · TEXHOMA ENERGY INC · Filed May 20, 2008
Insider Transaction Report
Form 4
TEXHOMA ENERGY INCTXHE.OB
SIMMONS WILLIAM M
DirectorPresident,Secretary,Treasurer
Transactions
- Other
Preferred Stock
2008-04-20−1,000→ 0 total(indirect: Valeska Energy Corp.) - Other
Common Stock
2008-04-20−44,400,000→ 1,000,000 total(indirect: Valeska Energy Corp.)
Footnotes (2)
- [F1]Valeska Energy Corp. ("Valeska") directly owns 44,000,000 shares of the issuer's common stock, 60,000,000 options to purchase shares of the issuer's common stock and 1,000 shares of the issuer's preferred stock. William M. Simmons previously served as President and Chief Executive Officer of Valeska Energy Corp. and therefore indirectly beneficially owned these shares. On April 20, 2008, Mr. Simmons resigned as President and Chief Executive Officer of Valeska Energy Corp. and therefore no longer indirectly beneficially owns the shares held by Valeska. Concurrently with his resignation from Valeska Energy Corp., Mr. Simmons also resigned as President and Director of the issuer.
- [F2]In connection with Mr. Simmons' resignation as President and Director of the issuer, he entered into a settlement agreement and mutual release, pursuant to which he will be issued 6,500,000 restricted shares of the issuer's common stock. These shares have not been issued to date, and therefore he currently owns only 1,000,000 shares of the issuer's common stock.