4//SEC Filing
Park Place Energy Inc. 4
Accession 0001493152-17-001958
$TRLEFCIK 0001648636operating
Filed
Feb 26, 7:00 PM ET
Accepted
Feb 27, 2:45 PM ET
Size
15.4 KB
Accession
0001493152-17-001958
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.
Documents
Issuer
Park Place Energy Inc.
CIK 0001648636
Entity typeoperating
IncorporatedBritish Columbia, Canada
Related Parties
1- filerCIK 0001648636
Filing Metadata
- Form type
- 4
- Filed
- Feb 26, 7:00 PM ET
- Accepted
- Feb 27, 2:45 PM ET
- Size
- 15.4 KB