Koil Energy Solutions (KLNG) Form 3 Koil Energy Solutions / Erik Wiik ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL 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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1. Name and Address of Reporting Person^*

Wiik Erik

(Last) (First) (Middle)

1310 RANKIN RD.

(Street)

HOUSTON TX 77073

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/06/2024

3. Issuer Name and Ticker or Trading Symbol
Koil Energy Solutions, Inc. [ KLNG ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
President and CEO

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	300,000(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options	(2)	03/06/2029	Common Stock	300,000	0.56	D

Explanation of Responses:

1. Restricted stock grant is subject to forfeiture - shares have time-based vesting provision where restrictions lapse with respect to one-third on March 4, 2025, March 4, 2026, and March 4, 2027, which are the first, second and third anniversaries of the date on which the Director joined the Board of Directors.

2. Stock options subject to the Optionee's continuous service as a director through such date, one-third of the Shares vest on each of March 6, 2025, March 6, 2026, and March 6, 2027. In addition to the foregoing, all Shares shall vest immediately prior to a Change in Control.

	/s/ Erik Wiik	04/23/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
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