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

Role
CEO and President, Director, 10%+ Owner
Signature
/s/ Benjamin P. Cowart
Stock symbol
VTNR
Transactions as of
Jun 24, 2021
Transactions value $
$12,260
Form type
4
Date filed
2/4/2022, 04:21 PM
Previous filing
May 24, 2021
Next filing
May 16, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VTNR Common Stock Gift $0 -153K -7.94% $0.00 1.77M Apr 11, 2021 Direct
transaction VTNR Common Stock Other $0 -1M -61.78% $0.00 619K Aug 10, 2021 Direct F1
transaction VTNR Common Stock Options Exercise +45.8K +0.95% 4.85M Jun 24, 2021 Through B&S Cowart II Family LP F2
transaction VTNR Common Stock Options Exercise $12.3K +8.01K +0.17% $1.53 4.85M Jul 1, 2021 Through B&S Cowart II Family LP
transaction VTNR Common Stock Other $0 +1M +20.62% $0.00 5.85M Aug 10, 2021 Through B&S Cowart II Family LP F1
holding VTNR Common Stock 174K Jun 24, 2021 Through spouse
holding VTNR Common Stock 70.2K Jun 24, 2021 Through The Shelley T. Cowart 2016 Grantor Retained Annuity Trust
holding VTNR Common Stock 7.5K Jun 24, 2021 Through Vertex Holdings, LP
holding VTNR Common Stock 101K Jun 24, 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 -45.8K -100% 0 Jun 24, 2021 Common Stock 45.8K $1.56 Through B&S Cowart II Family LP F2, F3
transaction VTNR Common Stock Purchase Warrants Options Exercise $0 -8.01K -100% $0.00* 0 Jul 1, 2021 Common Stock 8.01K $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.