Davis James B 4
4 · CROSS CANYON ENERGY CORP. · Filed Apr 15, 2009
Insider Transaction Report
Form 4
Davis James B
Senior VP of Operations
Transactions
- Award
Common Stock, $0.001 par value
2009-03-24$0.10/sh+750,000$75,000→ 750,000 total
Footnotes (2)
- [F1]Represents restricted shares of common stock ("Award") granted under that Restricted Stock Agreement dated October 1, 2008, between the Reporting Person and Issuer, the granting of which was made subject to the subsequent effectiveness in the State of Nevada of the Issuer's Certificate of Amendment amending its Articles of Incorporation to increase the number of authorized shares of common stock (the "Charter Amendment"), as disclosed by Issuer in its Current Reports on Forms 8-K filed with the Commission on each of May 23, 2008 and March 27,2009. The Award was deemed granted on March 24, 2009, the effective date of the Charter Amendment, and vests with respect to 250,000 shares of common stock on each of March 24, 2009 (grant date), October 1, 2009 and October 1, 2010, respectively. Shares of Restricted Stock may be voted by the Reporting Person, whether or not vested; however, shares of Restricted Stock are not transferable until and unless they become vested.
- [F2]The closing price of Issuer's common stock on the OTC Bulletin Board as reported on March 17, 2009, the date of the last reported sale prior to the grant date.