David J. Schulte - Mar 15, 2023 Form 4 Insider Report for CorEnergy Infrastructure Trust, Inc. (CORR)

Role
Chief Executive Officer, Director
Signature
/s/David J. Schulte
Stock symbol
CORR
Transactions as of
Mar 15, 2023
Transactions value $
-$16,669
Form type
4
Date filed
3/17/2023, 12:28 PM
Previous filing
Feb 14, 2023
Next filing
Mar 15, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CORR Common Stock Options Exercise +39.4K +135.97% 68.4K Mar 15, 2023 Direct F1
transaction CORR Common Stock Tax liability -$16.7K -13.7K -19.97% $1.22 54.8K Mar 15, 2023 Direct
holding CORR Common Stock 272K Mar 15, 2023 By Corporation F2
holding CORR Common Stock 345K Mar 15, 2023 By Trust F3
holding CORR Common Stock 2.57K Mar 15, 2023 By Spouse as custodian of children's accounts

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 CORR Restricted Stock Units Options Exercise $0 -39.4K -33.33% $0.00 78.9K Mar 15, 2023 Common Stock 39.4K Direct F1, F4
holding CORR Class B Common Stock 161K Mar 15, 2023 Common Stock 161K By Corporation F2, F5
holding CORR Class B Common Stock 204K Mar 15, 2023 Common Stock 204K By Trust F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit (RSU) represents a contingent right to receive one share of CORR common stock.
F2 A corporation controlled by the reporting person.
F3 A trust in which the reporting person serves as trustee.
F4 On March 15, 2023, 39,431 of Mr. Schulte's RSUs, granted on May 26, 2022, vested. On March 15, 2023, 13,663 of the 39,431 shares underlying these newly-vested RSUs were surrendered to satisfy the tax withholding obligations triggered upon the March 15th vesting. The surrender of shares is the Company's default process for paying tax withholding obligations triggered upon the vesting of RSUs.
F5 The shares of Class B Common Stock will convert to Common Stock on a one-for-one basis no later than February 4, 2024 depending on certain dividend payments by the Company as described in the Articles Supplementary related to the Class B Common Stock filed with the SEC on February 10, 2021. The Class B Common Stock is entitled to one vote per share and votes with the Common Stock.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney