FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Expires: February 28, 2011
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

GUPTA RAJ
2. Issuer Name and Ticker or Trading Symbol

CNX Gas Corp [ CXG ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

1000 CONSOL ENERGY DRIVE
3. Date of Earliest Transaction (MM/DD/YYYY)

5/26/2010
(Street)

CANONSBURG, PA 15317
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common shares, $0.01 par value per share   5/26/2010     S    18896   (1) D $38.25   0   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy)   $28.5   5/26/2010     D         2544   (2)     (3) 4/28/2016   Common shares, $0.01 par value per share   2544   (2) $9.75   (2) 0   D    

Explanation of Responses:
( 1)  These shares were tendered to CONSOL Energy Inc. ("CONSOL"), the parent company of CNX Gas Corporation (the "Issuer"), pursuant to CONSOL's offer to purchase all of the outstanding shares of the Issuer at a cash purchase price of $38.25 per share, pursuant to the terms and conditions set forth in the Offer to Purchase, dated April 28, 2010 (as amended and supplemented, the "Offer to Purchase") and in the related letter of transmittal (which, together with any amendments or supplements thereto, collectively constitute the "Tender Offer").
( 2)  The shares underlying each of these options, which were vested in full at the closing of the Tender Offer, were cancelled in connection with the Tender Offer in exchange for the right to receive a cash payment equal to the number of shares of Issuer common stock underlying each such option multiplied by the product of $38.25 minus the exercise price per share of such option.
( 3)  The cancelled option vested in full on April 28, 2009.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
GUPTA RAJ
1000 CONSOL ENERGY DRIVE
CANONSBURG, PA 15317
X



Signatures
/s/ Raj K. Gupta by Stephanie Gill, his attorney-in-fact 5/28/2010
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
Cnx Gas (NYSE:CXG)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Cnx Gas Charts.
Cnx Gas (NYSE:CXG)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Cnx Gas Charts.