Michael W. Silberman - 24 Jun 2022 Form 4 Insider Report for TRECORA RESOURCES

Role: General Counsel and Secretary
Signature: /s/ Michael W. Silberman
Issuer symbol: N/A
Transactions as of: 24 Jun 2022
Net transactions value: -$907,425
Form type: 4
Filing time: 28 Jun 2022, 15:34:06 UTC
Previous filing: 02 Jun 2022
Next filing: 27 Mar 2024
SEC: View on sec.gov

Key filing fact

Michael W. Silberman filed Form 4 for TRECORA RESOURCES on 28 Jun 2022.

Key facts

This page summarizes Michael W. Silberman's Form 4 filing for TRECORA RESOURCES.
8 reported transactions and 7 derivative rows are listed below.
Filing timestamp: 28 Jun 2022, 15:34.

Change

Previous filing in this sequence was filed on 02 Jun 2022.
Current net transaction value: -$907,425.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

See Original Filing

Transactions Table

TREC transaction

Common stock

Disposition pursuant to a tender of shares in a change of control transaction

Transaction value: $266,999
Shares: -27,217
Change %: -100%
Price: $9.81
Shares after: 0
Date: 24 Jun 2022
Ownership: Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

TREC transaction Derivative

Restricted Stock Units

Disposed to Issuer

Transaction value: $26,232
Shares: -2,674
Change %: -100%
Price: $9.81
Shares after: 0
Date: 27 Jun 2022
Ownership: Direct
Underlying class: Common stock
Underlying amount: 2,674
Exercise price
Footnotes: F1, F2, F3, F4

TREC transaction Derivative

Restricted Stock Units

Disposed to Issuer

Transaction value: $82,100
Shares: -8,369
Change %: -100%
Price: $9.81
Shares after: 0
Date: 27 Jun 2022
Ownership: Direct
Underlying class: Common stock
Underlying amount: 8,369
Exercise price
Footnotes: F1, F2, F3, F5

TREC transaction Derivative

Restricted Stock Units

Disposed to Issuer

Transaction value: $104,859
Shares: -10,689
Change %: -100%
Price: $9.81
Shares after: 0
Date: 27 Jun 2022
Ownership: Direct
Underlying class: Common stock
Underlying amount: 10,689
Exercise price
Footnotes: F1, F2, F3, F6

TREC transaction Derivative

Restricted Stock Units

Disposed to Issuer

Transaction value: $78,686
Shares: -8,021
Change %: -100%
Price: $9.81
Shares after: 0
Date: 27 Jun 2022
Ownership: Direct
Underlying class: Common stock
Underlying amount: 8,021
Exercise price
Footnotes: F1, F2, F3, F7

TREC transaction Derivative

Restricted Stock Units

Disposed to Issuer

Transaction value: $123,135
Shares: -12,552
Change %: -100%
Price: $9.81
Shares after: 0
Date: 27 Jun 2022
Ownership: Direct
Underlying class: Common stock
Underlying amount: 12,552
Exercise price
Footnotes: F1, F2, F3, F8

TREC transaction Derivative

Restricted Stock Units

Disposed to Issuer

Transaction value: $104,849
Shares: -10,688
Change %: -100%
Price: $9.81
Shares after: 0
Date: 27 Jun 2022
Ownership: Direct
Underlying class: Common stock
Underlying amount: 10,688
Exercise price
Footnotes: F1, F2, F3, F9

TREC transaction Derivative

Restricted Stock Units

Disposed to Issuer

Transaction value: $120,565
Shares: -12,290
Change %: -100%
Price: $9.81
Shares after: 0
Date: 27 Jun 2022
Ownership: Direct
Underlying class: Common stock
Underlying amount: 12,290
Exercise price
Footnotes: F1, F2, F3, F10

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Michael W. Silberman is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Restricted stock units convert into common stock on a one-for-one basis.
F2	On May 11, 2022, Trecora Resources (the "Issuer") entered into an Agreement and Plan of Merger with the Balmoral Swan Parent, Inc., a Delaware corporation (the "Parent"), and Balmoral Swan MergerSub, Inc., a Delaware corporation (the "Purchaser") and a wholly owned subsidiary of Parent (the "Merger Agreement"). On June 27, 2022, the Purchaser merged with and into the Issuer pursuant to Section 251(h) of the General Corporation Law of the State of Delaware, with the Issuer being the surviving corporation and becoming a wholly-owned subsidiary of the Parent. All terms capitalized but not defined shall have the meaning given to them in the Merger Agreement.
F3	Pursuant to the Merger Agreement, each unvested restricted stock unit was automatically cancelled immediately prior to the Effective Time and converted into a deferred cash award equal to the product of (i) $9.81 multiplied by (ii) the number of shares of common stock underlying such restricted stock unit (with any such restricted stock unit that are subject to performance-based vesting being deemed earned assuming achievement of target performance), less any applicable withholding taxes. Such deferred cash awards will be payable on the earlier of January 20, 2023 or on a qualifying termination as prescribed by the Merger Agreement.
F4	Represents the remaining portion of a grant of 8,021 restricted stock units in June 2020, which were originally scheduled to vest in three equal annual installments beginning on February 13, 2021.
F5	Represents the remaining portion of a grant of 12,553 restricted stock units in February 2021, which were originally scheduled to vest in three equal annual installments beginning on February 25, 2022.
F6	These restricted stock units were granted in February 2022 and were originally scheduled to vest in three equal annual installments beginning on February 16, 2023.
F7	Represents performance-based restricted stock units granted in 2020, which were originally scheduled to vest based on the achievement of certain performance criteria following a three year performance period that began on January 1, 2020.
F8	Represents performance-based restricted stock units granted in 2021, which were originally scheduled to vest based on the achievement of certain performance criteria following a three year performance period that began on January 1, 2021.
F9	Represents performance-based restricted stock units granted in 2022, which were originally scheduled to vest based on the achievement of certain performance criteria following a three year performance period that began on January 1, 2022.
F10	Represents the remaining portion of a grant of 36,866 restricted stock units in June 2020, which were originally scheduled to vest in three equal annual installments beginning on June 1, 2021.