Dan Borgen - 22 Sep 2021 Form 4 Insider Report for Vertex Energy Inc.

Role
Director
Signature
/s/ Dan Borgen
Issuer symbol
N/A
Transactions as of
22 Sep 2021
Net transactions value
+$2,003
Form type
4
Filing time
24 Sep 2021, 18:13:46 UTC
Previous filing
24 May 2021
Next filing
18 Feb 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VTNR Common Stock Options Exercise $68,750 +25,000 $2.75 25,000 22 Sep 2021 Direct
transaction VTNR Common Stock Tax liability $66,747 -11,143 -45% $5.99 13,857 22 Sep 2021 Direct F1
holding VTNR Common Stock 195,324 22 Sep 2021 Through KKB Holdings LLC

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 VTNR Stock Option Options Exercise $0 -25,000 -100% $0.000000* 0 22 Sep 2021 Common Stock 25,000 $2.75 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a "net exercise" of outstanding stock options. The reporting person received 13,857 shares of common stock on the net exercise of an option to purchase 25,000 shares of common stock. The Issuer withheld 11,143 shares of common stock underlying the option in payment of the exercise price, based on the five-day volume weighted average closing price of the Issuer's common stock, for the five trading days prior to September 22, 2021, of $5.99, as calculated pursuant to the terms of the option award (the "FMV").
F2 Options to purchase 6,250 shares vested on each of September 23, 2012, 2013, 2014 and 2015.