Duane H. King - 05 Jan 2023 Form 4 Insider Report for US ENERGY CORP (USEG)

Role
Director
Signature
/s/ Duane H. King
Issuer symbol
USEG
Transactions as of
05 Jan 2023
Net transactions value
$0
Form type
4
Filing time
06 Jan 2023, 19:56:11 UTC
Previous filing
21 Jul 2022
Next filing
20 Mar 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction USEG Common Stock Other $0 +48,913 +122% $0.000000 88,913 05 Jan 2023 Direct F1, F2
transaction USEG Common Stock Other $0 +2,027,399 $0.000000 2,027,399 20 Jul 2022 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Excludes shares of common stock relating to the voting group included under "Remarks".
F2 Represents shares of common stock, $0.01 par value per share of the Issuer, held by Mr. Duane H. King.
F3 Represents shares of common stock, $0.01 par value per share of the Issuer, held by King Oil & Gas Company, Inc. ("King Oil"), which is 100% owned by Duane K. King. The shares held by King Oil may be deemed to be beneficially owned by Mr. King due to his status as Chief Executive Officer of King Oil.

Remarks:

By virtue of being party to a Nominating and Voting Agreement, dated as of January 5, 2022, as amended September 16, 2023 (the "Voting Agreement"), Mr. King and King Oil may be deemed to be a member of a "group" for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended. The reporting persons disclaim beneficial ownership of any securities owned by any of the other signatories to the Voting Agreement (and/or their control persons) and the filing of this Form 4 shall not be deemed an admission, for purposes of Section 16 of the Exchange Act or otherwise, that any of the reporting persons and any other person or persons constitute a "group" for purposes of Section 13(d)(3) of the Exchange Act or Rule 13d-5 thereunder. In addition, none of the reporting persons have any pecuniary interest in any of the securities beneficially owned by any of the other signatories to the Voting Agreement (and/or their control persons).