Dan Borgen - Sep 22, 2021 Form 4 Insider Report for Vertex Energy Inc. (VTNR)

Role
Director
Signature
/s/ Dan Borgen
Stock symbol
VTNR
Transactions as of
Sep 22, 2021
Transactions value $
$2,003
Form type
4
Date filed
9/24/2021, 06:13 PM
Previous filing
May 24, 2021
Next filing
Feb 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VTNR Common Stock Options Exercise $68.8K +25K $2.75 25K Sep 22, 2021 Direct
transaction VTNR Common Stock Tax liability -$66.7K -11.1K -44.57% $5.99 13.9K Sep 22, 2021 Direct F1
holding VTNR Common Stock 195K Sep 22, 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 -25K -100% $0.00* 0 Sep 22, 2021 Common Stock 25K $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.