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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN 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. | |||
| 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. | SEC 1474 (9-02) | ||
| 1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Stock Option (right to buy) | $ 3.5 | 12/15/2020 | A | 3,333,333 | (1) | 12/15/2025 | Common Stock | 3,333,333 | $ 0 | 3,333,333 | D | ||||
| Stock Option (right to buy) | $ 4.5 | 12/15/2020 | A | 3,333,333 | (2) | 12/15/2025 | Common Stock | 3,333,333 | $ 0 | 3,333,333 | D | ||||
| Stock Option (right to buy) | $ 5.5 | 12/15/2020 | A | 3,333,334 | (3) | 12/15/2025 | Common Stock | 3,333,334 | $ 0 | 3,333,334 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
| SOUKI CHARIF 1201 LOUISIANA STREET, SUITE 3100 HOUSTON, TX 77002 |
X | X | ||
| /s/ Daniel Belhumeur under Power of Attorney by Charif Souki | 12/17/2020 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(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 option will become vested and exercisable upon the first date on which the common stock of Tellurian Inc. ("Tellurian" or the "Issuer") has closed at a price per share on the Nasdaq Capital Market equal to or in excess of $3.50 for any ten consecutive trading days beginning on or after December 15, 2021, subject to the reporting person's continued service to the Issuer and its affiliates through such date. |
| (2) | The option will become vested and exercisable upon the first date on which Tellurian common stock has closed at a price per share on the Nasdaq Capital Market equal to or in excess of $4.50 for any ten consecutive trading days beginning on or after December 15, 2022, subject to the reporting person's continued service to the Issuer and its affiliates through such date. |
| (3) | The option will become vested and exercisable upon the first date on which Tellurian common stock has closed at a price per share on the Nasdaq Capital Market equal to or in excess of $5.50 for any ten consecutive trading days beginning on or after December 15, 2023, subject to the reporting person's continued service to the Issuer and its affiliates through such date. |