Allen Mark Merle 4

4 · Petrolia Energy Corp · Filed May 26, 2021

Form 4

Period: 2020-12-22

President

Transactions

Other
Common Stock
2021-05-04$0.05/sh+5,400,000$270,000→ 14,690,632 total
Award
Common Stock
2020-12-22$0.03/sh+1,000,000$30,000→ 8,957,299 total
Award
Warrants to purchase Common Stock
2020-12-22$0.08/sh+1,000,000$80,000→ 1,000,000 total
Exercise: $0.08From: 2021-12-22Exp: 2024-12-22→ Common Stock (1,000,000 underlying)
Award
Warrants to purchase Common Stock
2021-05-04$0.08/sh+5,400,000$432,000→ 6,400,000 total
Exercise: $0.08From: 2021-05-04Exp: 2024-05-04→ Common Stock (5,400,000 underlying)
Other
Common Stock
2021-05-04$0.09/sh+333,333$30,000→ 9,290,632 total

Footnotes (2)

[F1]On September 1, 2020, Mr. Allen entered into an Employment Agreement to serve as President of Petrolia Energy Corporation. As part of the compensation plan Mr. Allen received an award of 1,000,000 common shares and 1,000,000 warrants exercisable at $0.08/share.
[F2]On May 4, 2021, Mr. Allen converted $270,000 in debt to common shares at $0.05/share. Additionally, as a part of the Debt to Equity Conversion Agreement, Mr. Allen also received 5,400,000 warrants to purchase common stock at $0.08/share. The warrants are vested immediately and expire in three years.

Documents

1 file