Park Place Energy Corp. 4
4 · Park Place Energy Corp. · Filed Dec 17, 2014
Insider Transaction Report
Form 4
Larsen Scott C
DirectorPresident and CEO
Transactions
- Award
Restricted Stock Units
2014-10-01+35,336→ 115,336 total→ Common Shares (35,336 underlying)
Holdings
- 200,000(indirect: Larsen Energy Consulting Inc.)
Common Shares
- 80,000
Restricted Stock Units
→ Common Shares (80,000 underlying) - 500,000
Common Shares
- 400,000
Stock Options
Exercise: $0.23From: 2013-11-01Exp: 2016-10-31→ Common Shares (400,000 underlying) - 500,000
Warrants
Exercise: $0.20From: 2013-08-30Exp: 2016-08-29→ Common shares (500,000 underlying) - 600,000(indirect: Larsen Energy Consulting Inc.)
Stock Options
Exercise: $0.10From: 2013-05-01Exp: 2018-04-30→ Common Shares (600,000 underlying)
Footnotes (3)
- [F1]Each Restricted Stock Unit is a notional share of common shares of the Issuer, with a value of each Unit being equal to the Fair Market value of a share of common stock at any time.
- [F2]100% of the total Restricted Stock Units shall vest on December 1, 2015 provided Mr. Larsen is still a contractor providing services to the Issuer on that date. Vesting will be accelerated if the Issuer either (a) raises an aggregate of $10 million through the sale of the Issuer's equity, or (b) becomes entitled to realize economic benefits of at least $20 million through any combination of capital raising or financing transactions.
- [F3]Upon the occurrence of (a) or (b) above, or a change of control, termination of service due to death, disability or termination of service, all unvested Restricted Stock Units shall immediately become vested.