Whitney Herbert N 4
4 · Blackwater Midstream Corp. · Filed Oct 7, 2011
Insider Transaction Report
Form 4
Whitney Herbert N
Director
Transactions
- Exercise/Conversion
Stock Options (Right to Buy)
2011-10-05$0.17/sh−124,445$21,156→ 505,882 totalExercise: $0.17From: 2011-10-05Exp: 2012-01-01→ Common Shares (705,882 underlying) - Exercise/Conversion
Common Stock
2011-10-05$0.45/sh+124,445$56,000→ 167,910 total - Tax Payment
Stock Options (Right to Buy)
2011-10-05$0.17/sh−75,555$12,844→ 630,327 totalExercise: $0.17From: 2011-10-05Exp: 2012-01-01→ Common Shares (705,882 underlying)
Footnotes (1)
- [F1]Pursuant to a stock option grant in April 2009, in consideration for services rendered as a member of the issuer's Board of Directors, on October 5, 2011 reporting person exercised 200,000 options at $0.17 per share = $34,000; in an authorized cashless transaction. The cashless transaction resulted in the surrender of 75,555 common shares based on the closing per share price of $0.45 as of October 5, 2011 = $34,000, and the resulting issuance of 124,445 common shares.