Carter Glatt - 05 Dec 2024 Form 4 Insider Report for Global Gas Corp (HGAS)

Role
Director, Chairman, 10%+ Owner
Signature
/s/ Dune Acquisition Holdings LLC, By: Carter Glatt, Managing Member
Issuer symbol
HGAS
Transactions as of
05 Dec 2024
Net transactions value
+$273,950
Form type
4
Filing time
09 Dec 2024, 21:56:21 UTC
Next filing
20 Aug 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HGAS Class A Common Stock Award $0 +200,000 $0.000000 200,000 05 Dec 2024 Direct
holding HGAS Class A Common Stock 4,312,500 05 Dec 2024 See footnote F2

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

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction HGAS Convertible Promissory Notes Award $103,950 $103,950 05 Dec 2024 Class A Common Stock 693,000 $0.1500 Direct F1
transaction HGAS Convertible Promissory Notes Award $170,000 $170,000 05 Dec 2024 Class A Common Stock 1,133,333 $0.1500 See footnote F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each of these promissory notes ("Notes") were first issued to the respective Reporting Person by the Issuer on June 21, 2023 in the form of unsecured promissory notes that were not convertible into Class A Common Stock. On December 5, 2024, the Issuer and the holder of each respective Note amended and restated each such applicable Note to: (i) fix the principal amount of each Note at the amount outstanding as of September 30, 2024; (ii) establish a maturity date of March 31, 2025; (iii) add interest of 5% per annum on the unpaid principal balance of each Note, payable in kind; and (iv) include a conversion feature whereby the holder may elect to convert the principal and accrued interest of such Note into Class A Common Stock of the Issuer at $0.15 per share. Accordingly, the number of shares of Class A Common Stock into which each Note can be converted is subject to change as interest accrues on the Note.
F2 These securities are held directly by Dune Acquisition Holdings LLC. Mr. Glatt is the manager of Dune Acquisition Holdings LLC and has voting and investment discretion with respect to the securities held of record by Dune Acquisition Holdings LLC. Mr. Glatt disclaims any beneficial ownership of the securities held by Dune Acquisition Holdings LLC other than to the extent of any pecuniary interest he may have therein, directly or indirectly.

Remarks:

See Exhibit 99.1 - Joint Filer Information, which was filed as an exhibit to Form 3 filed by the Reporting Persons on December 17, 2020, and is incorporated herein by reference and describes in further detail the relationships of the Reporting Persons to the Issuer.