J. Russell Porter - Feb 15, 2023 Form 4 Insider Report for CENAQ Energy Corp. (VGAS)

Role
Fmr Director and CEO, 10%+ Owner
Signature
/s/ J. Russell Porter
Stock symbol
VGAS
Transactions as of
Feb 15, 2023
Transactions value $
$0
Form type
4
Date filed
2/15/2023, 03:58 PM
Previous filing
Oct 26, 2022
Next filing
Oct 26, 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 VGAS Private Placement Warrants Disposed to Issuer -2.48M -50% 2.48M Feb 15, 2023 Class A Common Stock 2.48M $11.50 See footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

J. Russell Porter is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 In connection with the consummation of the business combination between the Issuer, Verde Clean Fuels OpCo, LLC, Bluescape Clean Fuels Holdings, LLC, Bluescape Clean Fuels Intermediate Holdings, LLC and CENAQ Sponsor LLC ("Sponsor") on February 15, 2023 (the "Business Combination"), 2,475,000 of the Sponsor's private placement warrants were forfeited by the Sponsor to the Issuer for no consideration.
F2 The warrants will become exercisable 30 days after the completion of the Business Combination. The warrants will expire five years after the completion of the Business Combination or earlier upon redemption or liquidation, as described in the prospectus for the Issuer's initial public offering.
F3 The Sponsor is the record holder of the shares reported herein. John B. Connally III, J. Russell Porter and Michael J. Mayell are the members of the board of managers of the Sponsor. Each of Messers. Connally, Porter and Mayell may be deemed to have or share beneficial ownership of the securities held directly by the Sponsor. Each such person disclaims any such beneficial ownership of such securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.