Synergy Offshore LLC 4
4 · US ENERGY CORP · Filed Jan 19, 2022
Insider Transaction Report
Form 4
US ENERGY CORPUSEG
King Duane H
Director10% OwnerOther
Transactions
- Award
Common Stock
2022-01-17+40,000→ 40,000 total
Holdings
- 6,546,384
Common Stock
Footnotes (5)
- [F1]Represents restricted stock shares subject to time-based vesting, which vest at the rate of (a) 1/4th of such shares on January 17, 2022, and (b) 1/4th of such shares on the last day of each six months thereafter for the following eighteen months, subject to the recipient's continued service to the Issuer.
- [F2]Issued to the Reporting Person in consideration for services rendered and agreed to be rendered to the Issuer as a member of the Board of Directors of the Issuer.
- [F3]Represents shares of shares of common stock, $0.01 par value per share of the Issuer, held by Mr. Duane H. King.
- [F4]Excludes shares of common stock relating to the voting group included under "Remarks", except as described under footnote (5).
- [F5]Represents shares of common stock, $0.01 par value per share of the Issuer, held by Synergy Offshore LLC ("Synergy"), a Texas limited liability company. The shares held by Synergy may be deemed to be beneficially owned by Mr. King and Mr. Hightower due to their status as Chief Executive Officer and Manager and President and Manager, respectively, of Synergy, and a result of their respective ownership and positions as Managers and Officers of the limited liability company that owns 100% of the membership interests of Synergy. Mr. King and Mr. Hightower, however, disclaim beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein.