Carlson Chris 4
4 · Vertex Energy Inc. · Filed Aug 25, 2020
Insider Transaction Report
Form 4
Carlson Chris
Secretary
Transactions
- Other
Series B1 Preferred Stock
2020-07-02+639→ 41,931 totalExercise: $1.56From: 2020-07-02→ Common Stock (639 underlying)
Holdings
- 772,906
Common Stock
Footnotes (3)
- [F1]Mr. Carlson was issued 639 shares of Series B1 Preferred Stock in-kind effective on July 2, 2020, in lieu of dividends which accrued on Series B1 Preferred Stock shares held by Mr. Carlson for the quarter ended June 30, 2020. The terms of the Series B1 Preferred Stock are described in greater detail in the Current Report filed by the Issuer on May 13, 2016. Exempt from Section 16(b) pursuant to Rule 16b-3(d).
- [F2]The Series B1 Preferred Stock (including accrued and unpaid dividends) is convertible into shares of the Issuer's common stock at the holder's option at any time at the Unit Price (initially a one-for-one basis). If the Issuer's common stock trades at or above $3.90 per share (250% of the Unit Price) for a period of 20 consecutive trading days, the Issuer may at such time force conversion of the Series B1 Preferred Stock (including accrued and unpaid dividends) into common stock of the Issuer.
- [F3]The Series B1 Preferred Stock has no expiration date.