Heron Lake BioEnergy, LLC 4
4 · Heron Lake BioEnergy, LLC · Filed Jul 3, 2014
Insider Transaction Report
Form 4
Schmitz Doug
Director
Transactions
- Conversion
Class A Units
2014-07-01$0.30/sh+835,000$250,500→ 982,500 total(indirect: By Corporation) - Conversion
7.25% Subordinated Secured Notes Due 2018
2014-07-01→ 0 totalExercise: $0.30From: 2014-05-23Exp: 2014-06-20→ Class A Units (835,000 underlying) - Conversion
7.25% Subordinated Secured Notes Due 2018
2014-07-01→ 0 total(indirect: By Corporation)Exercise: $0.30From: 2014-05-23Exp: 2014-06-20→ Class A Units (835,000 underlying) - Conversion
Class A Units
2014-07-01$0.30/sh+835,000$250,500→ 2,039,675 total
Footnotes (5)
- [F1]Represents Class A Units acquired by the Reporting Person upon conversion of the 7.25% Subordinated Secured Notes Due 2018: 835,000 owned by Reporting Person and 835,000 owned by Schmitz Grain, Inc.
- [F2]Represents Units owned by Reporting Person as follows: 982,500 Class A Units by Doug Schmitz, 8,092 Units owned by Mr. Schmitz and spouse, 44,432 Class A Units owned by spouse, and 982,500 Class A Units owned by Schmitz Grain, Inc.
- [F3]Reporting Person is a controlling principal of Schmitz Grain, Inc.
- [F4]Following 5/23/14 notice from the issuer of its intent to exercise its right under the indenture to redeem the 7.25% Subordinated Secured Notes on 7/1/14, the holder of the Notes could elect to convert the notes into Class A units of the Issuer. The conversion right expired 6/20/14 and the effective date of conversion for holders electing conversion was 7/1/2014.
- [F5]The principal amount of the 7.25% Subordinated Secured Notes converted into Class A Units of Heron Lake BioEnergy, LLC at a conversion rate of $.30 per unit.