Erik Wiik - Mar 6, 2024 Form 3 Insider Report for Koil Energy Solutions, Inc. (KLNG)

Role
President and CEO, Director
Signature
/s/ Erik Wiik
Stock symbol
KLNG
Transactions as of
Mar 6, 2024
Transactions value $
$0
Form type
3
Date filed
4/23/2024, 09:56 AM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding KLNG Common Stock 300K Mar 6, 2024 Direct F1

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
holding KLNG Stock Options Mar 6, 2024 Common Stock 300K $0.56 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock grant is subject to forfeiture - shares have time-based vesting provision where restrictions lapse with respect to one-third on March 4, 2025, March 4, 2026, and March 4, 2027, which are the first, second and third anniversaries of the date on which the Director joined the Board of Directors.
F2 Stock options subject to the Optionee's continuous service as a director through such date, one-third of the Shares vest on each of March 6, 2025, March 6, 2026, and March 6, 2027. In addition to the foregoing, all Shares shall vest immediately prior to a Change in Control.