Key facts
- This page summarizes J. Russell Porter's Form 4 filing for Verde Clean Fuels, Inc. (VGAS).
- 4 reported transactions and 2 derivative rows are listed below.
- Accepted by SEC: 10 Apr 2024, 20:46.
J. Russell Porter - 15 Feb 2023 Form 4 Insider Report for Verde Clean Fuels, Inc. (VGAS)
- Reporting relationship
- 10%+ Owner
- Issuer ticker
- VGAS
- Reported as of
- 15 Feb 2023
- Net transaction value
- +$409,610
- SEC form
- 4
- Accepted by SEC
- 10 Apr 2024, 20:46:36 UTC
- Prior SEC filing
- 26 Oct 2022
- Next SEC filing
- 26 Oct 2023
- Source filing
- View source filing
- Reporting owner signature
- /s/ J. Russell Porter
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
J. Russell Porter filed Form 4 for Verde Clean Fuels, Inc. (VGAS) on 10 Apr 2024.
Change
- Previous filing in this sequence was filed on 26 Oct 2022.
- Current net transaction value: +$409,610.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
VGAS
transaction
Class A Common Stock
Exercise of in-the-money or at-the-money derivative security
- Transaction value
- $409,610
- Shares
- +40,961
- Change %
- +1.3%
- Price
- $10.00
- Shares after
- 3,275,336
- Date
- 15 Feb 2024
- Ownership
- See footnote
- Footnotes
- F2
VGAS
transaction
Class A Common Stock
Other
- Transaction value
- Shares
- -40,961
- Change %
- -1.3%
- Price
- Shares after
- 3,234,375
- Date
- 21 Mar 2024
- Ownership
- See footnote
- Footnotes
- F2, F3
VGAS
transaction
Class A Common Stock
Other
- Transaction value
- Shares
- +2,833
- Change %
- +14%
- Price
- Shares after
- 22,683
- Date
- 21 Mar 2024
- Ownership
- Direct
- Footnotes
- F3
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
VGAS
transaction
Derivative
Put Option (obligation to buy)
Exercise of in-the-money or at-the-money derivative security
- Transaction value
- $0
- Shares
- -1
- Change %
- -100%
- Price
- $0.000000*
- Shares after
- 0
- Date
- 15 Feb 2024
- Ownership
- See footnote
- Underlying class
- Class A Common Stock
- Underlying amount
- 40,961
- Exercise price
- $10.00
- Footnotes
- F1, F2
VGAS
holding
Derivative
Private Placement Warrants
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 254,594
- Date
- 15 Feb 2023
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 254,594
- Exercise price
- $11.50
- Footnotes
- F4
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 4 footnotes
Footnote F1
On February 15, 2023, the Issuer issued a non-interest bearing promissory note to CENAQ Sponsor LLC (the "Sponsor") in the principal amount of $409,612 (the "Note"). The Note may be prepaid at any time and was due and payable on or before February 15, 2024 at the Issuer's election in cash or shares of Class A common stock, par value $0.0001 per share (the "Class A Common Stock"), at a conversion price of $10.00 per share. On February 15, 2024, the Issuer issued to the Sponsor 40,961 shares of Class A Common Stock upon the Issuer's election to repay the Note in shares of Class A Common Stock at a conversion price of $10.00 per share.
Footnote F2
The Sponsor is the record holder of the securities reported herein. J. Russell Porter is the sole member of the board of managers of the Sponsor. Mr. Porter may be deemed to have or share beneficial ownership of the securities held directly by the Sponsor and disclaims any such beneficial ownership of such securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
Footnote F3
On March 21, 2024, the Sponsor effectuated a pro rata distribution of 40,961 shares of Class A Common Stock previously held by the Sponsor to its members, of which 2,833 were transferred to the Reporting Person.
Footnote F4
The warrants became exercisable on March 17, 2023, 30 days after the completion of the business combination between the Issuer, Verde Clean Fuels OpCo, LLC, Bluescape Clean Fuels Holdings, LLC, Bluescape Clean Fuels Intermediate Holdings, LLC and the Sponsor on February 15, 2023 (the "Business Combination"). The warrants will expire five years after the completion of the Business Combination or earlier upon redemption or liquidation, as described in the prospectus for the Issuer's initial public offering.