Statement of Changes in Beneficial Ownership (4)
August 19 2016 - 5:49PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0287
Estimated average burden
hours per response...
0.5
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Omidele Segun
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2. Issuer Name
and
Ticker or Trading Symbol
Erin Energy Corp.
[
ERN
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__
X
__ Director
_____ 10% Owner
__
X
__ Officer (give title below)
_____ Other (specify below)
Chief Executive Officer
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(Last)
(First)
(Middle)
1330 POST OAK BLVD., SUITE 2250
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3. Date of Earliest Transaction
(MM/DD/YYYY)
8/17/2016
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(Street)
HOUSTON, TX 77056
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_
X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock
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8/17/2016
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M
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70581
(1)
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A
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$2.04
(2)
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679329
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D
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Common Stock
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8/17/2016
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F
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54334
(3)
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D
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$2.6347
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624995
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D
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Common Stock
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8/17/2016
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D
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16247
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D
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$2.6347
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608748
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D
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Common Stock
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8/19/2016
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M
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147057
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A
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$2.04
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755805
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D
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Common Stock
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8/19/2016
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F
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111109
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D
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$2.70
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644696
(4)
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D
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Table II - Derivative Securities Beneficially Owned (
e.g.
, puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code
(Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
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8. Price of Derivative Security
(Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Incentive Stock Option (Right to Buy)
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$2.04
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8/17/2016
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M
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70581
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9/1/2012
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9/1/2016
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Common Stock
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70581.0
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$0
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4264724
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D
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Incentive Stock Option (Right to Buy)
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$2.04
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8/19/2016
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M
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147057
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9/1/2012
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9/1/2016
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Common Stock
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147057.0
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$0
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4117667
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D
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Explanation of Responses:
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(
1)
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Issued upon exercise of incentive stock options granted to Reporting Person under the Issuer's 2009 Equity Incentive Plan.
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(
2)
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Corresponds to the exercise price of the stock option. Reporting person sold these shares at an average price of $2.6347.
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(
3)
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Represents the number of shares sold by the Reporting Person to cover payment of the exercise cost and tax withholding obligations arising from the exercise, in connection with the exercise of an incentive stock option granted to Reporting person on September 1, 2011 pursuant to the Issuer's 2009 Equity Incentive Plan. This sale is made to satisfy payment of the exercise cost and tax withholding obligations funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.
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(
4)
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Reporting Person received 35,948 shares of the Issuer's Common Stock upon net share settlement of Reporting Person's exercise of options to purchase 147,057 shares of Issuer's Common Stock, with the remaining 111,109 shares being retained by the Issuer to pay the exercise cost arising from the exercise in connection with the net settlement of the incentive stock option and does not represent a sale by the Reporting Person.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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Omidele Segun
1330 POST OAK BLVD., SUITE 2250
HOUSTON, TX 77056
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X
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Chief Executive Officer
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Signatures
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/s/ Jean-Michel Malek, Attorney-In-Fact
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8/19/2016
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 4(b)(v).
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**
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See
18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient,
see
Instruction 6 for procedure.
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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.
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