Enservco Corp 4
4 · Enservco Corp · Filed Jul 20, 2016
Insider Transaction Report
Form 4
Enservco CorpENSV
OPPENHEIM STEVEN P
Director
Transactions
- Award
Stock Option
2016-07-18+50,000→ 50,000 totalExercise: $1.00Exp: 2018-07-25→ Common Stock (50,000 underlying) - Disposition to Issuer
Stock Option
2016-07-18−100,000→ 100,000 totalExercise: $1.27Exp: 2018-04-29→ Common Stock (100,000 underlying) - Disposition to Issuer
Stock Option
2016-07-18−50,000→ 0 totalExercise: $1.00Exp: 2018-07-25→ Common Stock (50,000 underlying) - Award
Stock Option
2016-07-18+100,000→ 100,000 totalExercise: $1.27Exp: 2018-10-29→ Common Stock (100,000 underlying)
Holdings
- 75,000
Common Stock
Footnotes (5)
- [F1]This transaction involves rescission of a prior grant pursuant to an agreement dated July 18, 2016 between the Company and the Reporting Person in connection with securities granted which were in excess of the limits authorized by Enservco's 2010 Stock Incentive Plan. As of the date of the rescission, the forfeited options to acquire 100,000 shares were vested. Options to acquire 100,000 shares remain vested as of the date hereof. The disposition to the issuer was approved in accordance with Rule 16b-3(e) of the Securities Exchange Act of 1934 (the "1934 Act"), and in accordance with Rule 16b-3(a) of the 1934 Act is exempt from Section 16(b) of the 1934 Act.
- [F2]This transaction involves rescission of a prior grant pursuant to an agreement dated July 18, 2016 between the Company and the Reporting Person in connection with securities granted which were in excess of the limits authorized by Enservco's 2010 Stock Incentive Plan. As of the date of the rescission, the forfeited options to acquire 50,000 shares were vested. The disposition to the issuer was approved in accordance with Rule 16b-3(e) of the Securities Exchange Act of 1934 (the "1934 Act"), and in accordance with Rule 16b-3(a) of the 1934 Act is exempt from Section 16(b) of the 1934 Act.
- [F3]The exercise price per share of the new option grant is the higher of the exercise price of the forfeited options or the closing sale price of the Company's common stock on July 7, 2016, the date of approval of the new option grant and related agreements by a special independent committee of the Board of Directors (the "Special Committee").
- [F4]The options were granted pursuant to an agreement dated July 18, 2016 between the Company and the Reporting Person and are subject to approval by Enservco's stockholders of its 2016 Stock Incentive Plan (the "2016 Plan"). If the 2016 Plan is approved by stockholders, options to acquire 100,000 shares will vest on the date of stockholder approval.
- [F5]The options were granted pursuant to an agreement dated July 18, 2016 between the Company and the Reporting Person are subject to approval by Enservco's stockholders of its 2016 Plan. If the 2016 Plan is approved by stockholders, options to acquire 50,000 shares will vest on the date of stockholder approval.