PENNINGTON JAMES E. 4
4 · SUN RIVER ENERGY, INC · Filed Jun 8, 2012
Insider Transaction Report
Form 4
PENNINGTON JAMES E.
General Counsel & Secretary
Transactions
- Award
Common Stock
2012-06-07+9,375→ 679,467 total - Other
Convertible Promissory Note
2012-06-04+1,493,958→ 1,493,958 totalExercise: $0.20From: 2012-06-04→ Common Stock (1,493,958 underlying)
Footnotes (4)
- [F1]On June 4, 2012, the Company issued a convertble promissory note in satisfaction of amounts owed ($298,791.57) to the reporting person under his employment agreement. The note has a 6 month term and is convertible into common stock. The note accrues interest which is also convertible into common stock.
- [F2]$0.20 per share prior to the maturity date and after the maturity date a price per share equal to 85% of the closing price per share on the date immediately preceding the notice to convert.
- [F3]This number is calculated assuming a $0.20 conversion price and excludes any accrued interest which may be paid in common stock at the same conversion price. This number may change if paid after maturity depending on the conversion rate.
- [F4]The note may be converted at lender's sole discretion at any time until the promissory note is paid in full.