Randy May - Nov 27, 2023 Form 3 Insider Report for White River Energy Corp. (WTRV)

Role: Chief Executive Officer, Director
Signature: /s/ Randy S. May
Stock symbol: WTRV
Transactions as of: Nov 27, 2023
Transactions value $: $0
Form type: 3
Date filed: 11/27/2023, 04:05 PM
Previous filing: Nov 23, 2021
Next filing: Feb 15, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	WTRV	Common Stock						500K	Nov 27, 2023	Direct	F1
holding	WTRV	Common Stock						1.59M	Nov 27, 2023	By May Family Foundation	F2

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

Explanation of Responses:

Id	Content
F1	Represents shares of common stock issuable under Restricted Stock Units ("RSUs") which vest within 60 days of the date of this Report. The Reporting Person was granted a total of 5,000,000 RSUs, of which vest in five equal annual increments over a five-year period with the first vesting date on November 30, 2023 and the other half vest in five equal increments based on performance-based conditions relating to the Issuer's average gross barrels of oil production per day. The grant and any issuances thereunder are exempt from Section 16(b) of the Securities Exchange Act of 1934 by virtue of Rule 16b-3 promulgated thereunder, as it was approved by the Board of Directors of the Issuer.
F2	The shares are held by The May Family Foundation, which Mr. May may be deemed to beneficially own as his niece is a control person of that entity.

Content

Represents shares of common stock issuable under Restricted Stock Units ("RSUs") which vest within 60 days of the date of this Report. The Reporting Person was granted a total of 5,000,000 RSUs, of which vest in five equal annual increments over a five-year period with the first vesting date on November 30, 2023 and the other half vest in five equal increments based on performance-based conditions relating to the Issuer's average gross barrels of oil production per day. The grant and any issuances thereunder are exempt from Section 16(b) of the Securities Exchange Act of 1934 by virtue of Rule 16b-3 promulgated thereunder, as it was approved by the Board of Directors of the Issuer.

The shares are held by The May Family Foundation, which Mr. May may be deemed to beneficially own as his niece is a control person of that entity.

Remarks:

Exhibit 24 - Power of Attorney