American Sands Energy Corp. 4
4 · American Sands Energy Corp. · Filed Aug 2, 2012
Insider Transaction Report
Form 4
GIBBS WILLIAM C
DirectorPres.CEO, Treasurer & Chairman10% Owner
Transactions
- Award
Options
2012-07-31$0.50/sh+2,098,699$1,049,350→ 7,577,505 totalExercise: $0.50From: 2012-07-31→ Common Stock (2,098,699 underlying)
Holdings
- 10,300,000(indirect: By LLC)
Common Stock
- 5,478,806
Options
Exercise: $1.15From: 2012-06-15Exp: 2017-06-15→ Common Stock (75,000 underlying)
Footnotes (4)
- [F1]Mr. Gibbs is the Managing member of Bleeding Rock, LLC, a Delaware limited liability company that beneficially owns 10,300,000 shares of common stock of the Issuer. William C. Gibbs disclaims beneficial ownership of such shares of common stock except to the extent of his pecuniary interest therein.
- [F2]1/3 of options exercisable immediately; 1/3 exercisable 06/15/2013; remaining 1/3 exercisable 06/15/2014.
- [F3]Mr. Gibbs is the Managing member of Bleeding Rock, LLC, a Delaware limited liability company that beneficially owns 535,704 shares of common stock issuable upon conversion of a note of the Issuer. Mr. Gibbs is the Managing member of Hidden Peak Partners, LC, a Utah limited liability company that beneficially owns 2,893,102 shares of common stock issuable upon conversion of a note of the Issuer. William C. Gibbs disclaims beneficial ownership of such shares of common stock except to the extent of his pecuniary interest therein.
- [F4]Pursuant to Mr. Gibb's employment agreement dated August 1, 2007, commencing July 31, 2012, Mr. Gibbs has the right to convert unpaid salary into equity of the Company at $0.50 per share. As of July 31, 2012, Mr. Gibbs' accrued unpaid salary was $1,049,349.54.