UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Restricted Stock Units | (1) | (2) | Common Stock | 25,058 | $ (3) | D | |
Restricted Stock Units | (4) | (5) | Common Stock | 78,512 | $ (3) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
GRANMAYEH LANCE KIAN 1201 LOUISIANA STREET, SUITE 3100 HOUSTON, TX 77002 |
CFO |
/s/ Daniel Belhumeur under Power of Attorney by Lance Kian Granmayeh | 03/12/2020 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The restricted stock units vest as follows: (i) 8,352 units upon the affirmative final investment decision by the board of directors of the issuer with respect to the Driftwood LNG project (the "FID Date"), (ii) 8,353 units upon the one-year anniversary of the FID Date, and (iii) 8,353 units upon the two-year anniversary of the FID Date. |
(2) | Subject to certain exceptions set forth in the Reporting Person's restricted stock unit agreement pursuant to the Tellurian Inc. Amended and Restated 2016 Omnibus Incentive Compensation Plan (as amended and restated from time to time, the "2016 Tellurian Plan"), if the Reporting Person experiences a Termination of Service (as defined in the 2016 Tellurian Plan) for any reason, the Reporting Person shall forfeit to the issuer, without compensation, any restricted stock units that are unvested as of the date of such Termination of Service. |
(3) | Each restricted stock unit represents a contingent right to receive upon vesting one share of Tellurian common stock, cash of equal value, or a combination of both. |
(4) | The restricted stock units vest as follows: (i) 6,542 on each of June 1, 2020, July 6, 2020, August 3, 2020, and September 7, 2020 and (ii) 6,543 on each of October 5, 2020, November 2, 2020, December 7, 2020, January 4, 2021, February 1, 2021, March 1, 2021, April 5, 2021, and May 1, 2021. |
(5) | Subject to certain exceptions set forth in the Reporting Person's restricted stock unit agreement pursuant to the 2016 Tellurian Plan, if the Reporting Person experiences a Termination of Service (as defined in the 2016 Tellurian Plan) by the issuer without Cause (as defined in the 2016 Tellurian Plan), or due to his death or Disability (as defined in the 2016 Tellurian Plan), all unvested restricted stock units shall remain open and continue to vest as if the Reporting Person has not experienced a Termination of Service. |
Remarks: Exhibit List: Exhibit 24.1-Power of Attorney |