Benjamin P. Cowart - 24 Jun 2021 Form 4 Insider Report for Vertex Energy Inc.

Role
CEO and President, Director, 10%+ Owner
Signature
/s/ Benjamin P. Cowart
Issuer symbol
N/A
Transactions as of
24 Jun 2021
Net transactions value
+$12,260
Form type
4
Filing time
04 Feb 2022, 16:21:22 UTC
Previous filing
24 May 2021
Next filing
16 May 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 Gift $0 -152,817 -7.9% $0.000000 1,771,334 11 Apr 2021 Direct
transaction VTNR Common Stock Other $0 -1,000,000 -62% $0.000000 618,517 10 Aug 2021 Direct F1
transaction VTNR Common Stock Options Exercise +45,833 +0.95% 4,852,594 24 Jun 2021 Through B&S Cowart II Family LP F2
transaction VTNR Common Stock Options Exercise $12,260 +8,013 +0.17% $1.53 4,850,607 01 Jul 2021 Through B&S Cowart II Family LP
transaction VTNR Common Stock Other $0 +1,000,000 +21% $0.000000 5,850,607 10 Aug 2021 Through B&S Cowart II Family LP F1
holding VTNR Common Stock 174,085 24 Jun 2021 Through spouse
holding VTNR Common Stock 70,214 24 Jun 2021 Through The Shelley T. Cowart 2016 Grantor Retained Annuity Trust
holding VTNR Common Stock 7,500 24 Jun 2021 Through Vertex Holdings, LP
holding VTNR Common Stock 100,765 24 Jun 2021 Through VTX Inc.

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 Series B1 Preferred Stock Options Exercise -45,833 -100% 0 24 Jun 2021 Common Stock 45,833 $1.56 Through B&S Cowart II Family LP F2, F3
transaction VTNR Common Stock Purchase Warrants Options Exercise $0 -8,013 -100% $0.000000* 0 01 Jul 2021 Common Stock 8,013 $1.53 Through B&S Cowart II Family LP
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the transfer of shares from Mr. Cowart's personal record ownership to his family partnership, which did not result in a change of beneficial ownership of such securities.
F2 Reflects the automatic conversion of shares of Series B1 Preferred Stock into common stock, on a one-for-one basis, in connection with the triggering of the Automatic Conversion. The Series B1 Preferred Stock (including accrued and unpaid dividends) was convertible into shares of the Issuer's common stock at the holder's option at any time at the Unit Price (initially a one-for-one basis). If the Issuer's common stock traded at or above $3.90 per share (250% of the Unit Price) for a period of 20 consecutive trading days, the Series B1 Preferred Stock converted into common stock on a one-for-one basis (an "Automatic Conversion").
F3 The Series B1 Preferred Stock did not have an expiration date.

Remarks:

Mr. Cowart disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein.