Matthew Steele - Sep 19, 2024 Form 4 Insider Report for BATTALION OIL CORP (BATL)

Role
Chief Executive Officer
Signature
/s/ Walter R. Mayer, Attorney-in-fact
Stock symbol
BATL
Transactions as of
Sep 19, 2024
Transactions value $
$0
Form type
4
Date filed
9/23/2024, 04:38 PM
Previous filing
Apr 12, 2023

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 BATL Equity Grant Units Award $0 +50.4K $0.00 50.4K Sep 19, 2024 Common Stock 50.4K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person received an award of Equity Grant Units ("EGU") granted under the Plan (defined below). Each EGU represents the right to receive a cash payment equivalent to the value of a share of the Company's common stock upon a Closing (as described below).
F2 All awards are issued in accordance with the Company's Merger Incentive Plan, dated September 19, 2024 (the "Plan"), approved by the Compensation Committee and the Board of Directors of the Company.
F3 Subject to the terms and conditions of the Plan and the award agreement, each EGU will be settled in cash upon the Closing (as defined in the Plan) of a transaction resulting in a change of control of the Company and such cash settlement will be based on the consideration paid for the Company's common stock in connection with such Closing or the closing price of the Company's common stock on the date a person or group files a report with the Securities and Exchange Commission announcing that they are the beneficial owners of more than 50% of the total voting power of the outstanding voting stock of the Company.