Charles A. Lenns - Jul 6, 2022 Form 4 Insider Report for Corning Natural Gas Holding Corp (CNIG)

Role
Vice President, Treasurer, CFO
Signature
/s/ Charles A. Lenns
Stock symbol
CNIG
Transactions as of
Jul 6, 2022
Transactions value $
-$111,975
Form type
4
Date filed
7/6/2022, 04:31 PM
Previous filing
Sep 24, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CNIG Common Stock Disposed to Issuer -$111K -4.5K -100% $24.75 0 Jul 6, 2022 Direct F1

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 CNIG Stock Option Award $123K +5K +25% $24.63 25K Jul 1, 2022 Common Stock 5K $24.63 Direct
transaction CNIG Stock Option Disposed to Issuer -10K -100% 0 Jul 6, 2022 Common Stock 10K Direct F2
transaction CNIG Stock Option Disposed to Issuer -10K -100% 0 Jul 6, 2022 Common Stock 10K Direct F2
transaction CNIG Stock Option Disposed to Issuer -$124K -5K -100% $24.75 0 Jul 6, 2022 Common Stock 5K $24.63 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Charles A. Lenns is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Included shares of restricted stock previously issued to Mr. Lenns for his services as an officer. 1,125 shares of restricted stock vested in full pursuant to that certain merger agreement with ACP Crotona Corp. and ACP Crotona Merger Sub Corp, and 3,375 shares of restricted stock had previously vested.
F2 Pursuant to that certain merger agreement with ACP Crotona Corp. and ACP Crotona Merger Sub Corp., Mr. Lenns' stock options converted into the right to receive a cash payment equal to $100,000 representing the excess of the merger consideration ($24.75 per share) over the per share exercise price of the stock options ($16.50 for the 10,000 options granted on 08/31/2020 and $23.00 for the 10,000 options granted on 09/22/2021).