Christopher Allen Stratton - Mar 16, 2023 Form 4 Insider Report for Vertex Energy Inc. (VTNR)

Role: Director
Signature: /s/ Christopher Allen Stratton
Stock symbol: VTNR
Transactions as of: Mar 16, 2023
Transactions value $: $80
Form type: 4
Date filed: 3/23/2023, 04:15 PM
Previous filing: Mar 13, 2023
Next filing: Jun 20, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VTNR	Common Stock	Options Exercise	$75.6K	+60K	+89.67%	$1.26^*	127K	Mar 16, 2023	Direct	F1
transaction	VTNR	Common Stock	Tax liability	-$75.6K	-9.19K	-7.24%	$8.22	118K	Mar 16, 2023	Direct	F1
transaction	VTNR	Common Stock	Options Exercise	$65.3K	+45K	+38.23%	$1.45	163K	Mar 16, 2023	Direct	F2
transaction	VTNR	Common Stock	Tax liability	-$65.2K	-7.93K	-4.88%	$8.22	155K	Mar 16, 2023	Direct	F2
transaction	VTNR	Common Stock	Options Exercise	$28.8K	+15K	+9.69%	$1.92	170K	Mar 16, 2023	Direct	F3
transaction	VTNR	Common Stock	Tax liability	-$28.8K	-3.5K	-2.06%	$8.22	166K	Mar 16, 2023	Direct	F3

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	Option to Purchase Common Stock	Options Exercise	$0	-60K	-100%	$0.00^*	0	Mar 16, 2023	Common Stock	60K	$1.26	Direct	F4
transaction	VTNR	Option to Purchase Common Stock	Options Exercise	$0	-45K	-75%	$0.00	15K	Mar 16, 2023	Common Stock	45K	$1.45	Direct	F5, F7
transaction	VTNR	Option to Purchase Common Stock	Options Exercise	$0	-15K	-25%	$0.00	45K	Mar 16, 2023	Common Stock	15K	$1.92	Direct	F6, F8

* 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 50,807 shares of common stock upon the net exercise of options to purchase 60,000 shares of common stock. The Company withheld 9,193 shares of common stock underlying the portion of the option exercised for payment of the exercise price, using the fair market value on March 16, 2023, pursuant to the terms of the applicable option agreement.
F2	Represents a "net exercise" of outstanding stock options. The reporting person received 37,066 shares of common stock upon the net exercise of options to purchase 45,000 shares of common stock. The Company withheld 7,934 shares of common stock underlying the portion of the option exercised for payment of the exercise price, using the fair market value on March 16, 2023, pursuant to the terms of the applicable option agreement.
F3	Represents a "net exercise" of outstanding stock options. The reporting person received 11,498 shares of common stock upon the net exercise of options to purchase 15,000 shares of common stock. The Company withheld 3,502 shares of common stock underlying the portion of the option exercised for payment of the exercise price, using the fair market value on March 16, 2023, pursuant to the terms of the applicable option agreement.
F4	A total of 15,000 of the options vested on each of December 13, 2017, 2018, 2019 and 2020.
F5	A total of 15,000 of the options vested on each of May 20, 2020, 2021 and 2022.
F6	The 15,000 options vested on May 14, 2022.
F7	These options vest on May 20, 2023, subject to the Reporting Person's continued service to the Issuer on such date.
F8	These options vest at the rate of 15,000 of such options on each of May 14, 2023, 2024 and 2025, subject to the Reporting Person's continued service to the Issuer on such dates.