Park Place Energy Inc. 4
4 · Park Place Energy Inc. · Filed Feb 27, 2017
Insider Transaction Report
Form 4
Larsen Scott C
DirectorPresident and CEO
Transactions
- Exercise/Conversion
Common Shares
2017-02-23$0.18/sh+203,571$36,643→ 703,571 total - Exercise/Conversion
Restricted Stock Units [2014]
2017-02-23−203,571→ 0 total→ Common Shares (203,571 underlying)
Holdings
- 500,000
Common Shares
- 200,000(indirect: Larsen Energy Consulting Inc.)
Common Shares
- 500,000
Warrants
Exercise: $0.20From: 2013-08-27Exp: 2017-08-27→ 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) - 451,475
Restricted Stock Units [2015]
→ Common Shares (451,475 underlying) - 363,571
Restricted Stock Units [2016]
→ Common Shares (363,571 underlying)
Footnotes (8)
- [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, 2017 (pursuant to Amendment dated February 23, 2017) 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 2(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.
- [F4]100% of the total Restricted Stock Units shall vest on December 1, 2017 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.
- [F5]Upon the occurrence of 4(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.
- [F6]The expiration date of the warrants was extended to August 23, 2017 pursuant to Amendment dated August 3, 2016.
- [F7]100% of the total Restricted Stock Units vested on February 23, 2017 (pursuant to Amendment dated February 23, 2017).
- [F8]These shares were acquired pursuant to the vesting of certain Restricted Stock Units on February 23, 2017. See note 7. The price for these shares as shown in Table 1 reflects the published closing stock price on February 23, 2017. No additional payment was made for these shares upon vesting.