4//SEC Filing
Sawyer William Alexander 4
Accession 0001432093-11-000451
CIK 0001309082other
Filed
Jul 13, 8:00 PM ET
Accepted
Jul 14, 11:15 AM ET
Size
9.1 KB
Accession
0001432093-11-000451
Insider Transaction Report
Form 4
LUCAS ENERGY, INC.AMEX:LEI
Sawyer William Alexander
DirectorPresident & CEO
Transactions
- Award
Common Stock
2011-07-01$2.79/sh+6,721$18,752→ 364,446 total
Holdings
- 224,000
Stock Options
Exercise: $2.07From: 2011-03-31Exp: 2020-10-07→ Common Stock (24,000 underlying) - 224,000
Stock Options
Exercise: $4.05From: 2012-04-01Exp: 2016-04-01→ Common Stock (200,000 underlying)
Footnotes (4)
- [F1]Effective as of April 1, 2011, the Issuer entered into an employment agreement with William A. Sawyer pursuant to which he agreed to serve as Chief Executive Officer of the Issuer. Pursuant to the employment agreement Mr. Sawyer is due a base salary of $250,000 per year, of which $175,000 is payable in cash and $75,000 is payable in shares of the Issuer's common stock on a pro-rata, quarterly basis. Effective July 1, 2011, the Issuer was obligated to issue Mr. Sawyer 6,721 shares of common stock, valued at $2.79 per share (the closing price of the Issuer's common stock on July 1, 2011) or approximately $18,750 in aggregate, representing one quarter's worth of the total value of shares Mr. Sawyer is due on a yearly basis pursuant to the terms of his employment agreement.
- [F2]On October 7, 2010, the Issuer's Board of Directors approved the issuance to Mr. Sawyer of 17,500 shares of common stock under the Issuer's 2010 Long Term Incentive Plan (the "Plan") in the event the net production of the Issuer averages over 10,000 barrels of oil per month for a period of six months (which shares have not been issued or earned by Mr. Sawyer to date, and therefore have not been included in the table above).
- [F3]Represents the date that last portion of the Stock Option vested to Mr. Sawyer.
- [F4]Effective April 1, 2011, the Issuer's Board of Directors approved the grant to Mr. Sawyer of 200,000 options to purchase shares of common stock of the Issuer in consideration for services to be rendered to the Issuer during the April 1, 2011 to March 31, 2015 fiscal years as the Chief Executive Officer of the Issuer, which options had an exercise price of $4.05 per share and vest in tranches of 1/4th of such options per year pursuant to the Plan. The disclosure in the table above only discloses the date the first tranche is exercisable.
Documents
Issuer
LUCAS ENERGY, INC.
CIK 0001309082
Entity typeother
Related Parties
1- filerCIK 0001376883
Filing Metadata
- Form type
- 4
- Filed
- Jul 13, 8:00 PM ET
- Accepted
- Jul 14, 11:15 AM ET
- Size
- 9.1 KB