CENAQ Sponsor LLC. - Feb 15, 2023 Form 4 Insider Report for Verde Clean Fuels, Inc. (VGAS)

Role
10%+ Owner
Signature
CENAQ Sponsor LLC /s/ J. Russell Porter Chief Executive Officer
Stock symbol
VGAS
Transactions as of
Feb 15, 2023
Transactions value $
$409,610
Form type
4
Date filed
4/10/2024, 08:46 PM
Previous filing
Oct 26, 2022
Next filing
Oct 26, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VGAS Class A Common Stock Exercise of in-the-money or at-the-money derivative security $410K +41K +1.27% $10.00 3.28M Feb 15, 2024 Direct F2
transaction VGAS Class A Common Stock Other -41K -1.25% 3.23M Mar 21, 2024 Direct F2, F3

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 Put Option (obligation to buy) Exercise of in-the-money or at-the-money derivative security $0 -1 -100% $0.00* 0 Feb 15, 2024 Class A Common Stock 41K $10.00 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 15, 2023, the Issuer issued a non-interest bearing promissory note to the Reporting Person in the principal amount of $409,612 (the "Note"). The Note may be prepaid at any time and was due and payable on or before February 15, 2024 at the Issuer's election in cash or shares of Class A common stock, par value $0.0001 per share (the "Class A Common Stock"), at a conversion price of $10.00 per share. On February 15, 2024, the Issuer issued to the Reporting Person 40,961 shares of Class A Common Stock upon the Issuer's election to repay the Note in shares of Class A Common Stock at a conversion price of $10.00 per share.
F2 The Reporting Person is the record holder of the securities reported herein. J. Russell Porter is the sole member of the board of managers of the Reporting Person. Mr. Porter may be deemed to have or share beneficial ownership of the securities held directly by the Reporting Person and disclaims any such beneficial ownership of such securities except to the extent of his pecuniary interest therein.
F3 On March 21, 2024, the Reporting Person effectuated a pro rata distribution of 40,961 shares of Class A Common Stock previously held by the Reporting Person to its members.