Noah Verleun - Jun 23, 2022 Form 4 Insider Report for Global Clean Energy Holdings, Inc. (GCEH)

Role: President
Signature: /s/ Noah Verleun
Stock symbol: GCEH
Transactions as of: Jun 23, 2022
Transactions value $: $0
Form type: 4
Date filed: 6/27/2022, 04:00 PM
Previous filing: May 18, 2022
Next filing: Apr 25, 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	GCEH	Stock Option (right to buy)	Award	$0	+1.2M	+11.11%	$0.00	12M	Jun 23, 2022	Common Stock	1.2M	$3.60	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The stock option grant was approved by the Board of Directors of the issuer on April 27, 2022, contingent upon approval by the shareholders of the issuer of an increase of the number of options available under the equity incentive plan of the issuer, which approval was obtained on June 23, 2022.
F2	600,000 of the options vest in three equal tranches of 200,000 after the price of the common stock of the issuer has achieved and maintained (i) $10.00 per share for 45 consecutive trading days for tranche one; (ii) after tranche one has vested, $15.00 per share for 45 consecutive trading days for tranche two; and (iii) after tranche two has vested, $20.00 per share for 45 consecutive trading days, for tranche three. The remaining 600,000 will vest in equal quarterly installments on the last day of each of the next 12 quarters beginning on June 30, 2022.

Content

The stock option grant was approved by the Board of Directors of the issuer on April 27, 2022, contingent upon approval by the shareholders of the issuer of an increase of the number of options available under the equity incentive plan of the issuer, which approval was obtained on June 23, 2022.

600,000 of the options vest in three equal tranches of 200,000 after the price of the common stock of the issuer has achieved and maintained (i) $10.00 per share for 45 consecutive trading days for tranche one; (ii) after tranche one has vested, $15.00 per share for 45 consecutive trading days for tranche two; and (iii) after tranche two has vested, $20.00 per share for 45 consecutive trading days, for tranche three. The remaining 600,000 will vest in equal quarterly installments on the last day of each of the next 12 quarters beginning on June 30, 2022.