Michael Patrick Raleigh Form 3 Epsilon Energy / MICHAEL PATRICK RALEIGH 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^*

RALEIGH MICHAEL PATRICK

(Last) (First) (Middle)

16701 GREENSPOINT PARK DRIVE

SUITE 195

(Street)

HOUSTON TX 77060

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/14/2019

3. Issuer Name and Ticker or Trading Symbol
Epsilon Energy Ltd. [ EPSN ]

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

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Executive Officer

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 Shares	41,667	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
Option (right to buy)	(1)	(1)	Common Shares	50,000	7.34	D
Restricted Stock Grant	(2)	(2)	Common Shares	83,333	(5)	D
Restricted Stock Grant	(3)	(3)	Common Shares	62,500	(5)	D
Restricted Stock Grant	(4)	(4)	Common Shares	62,500	(5)	D

Explanation of Responses:

1. The options are fully vested and expire on June 5, 2022.

2. This Restricted Stock Grant will vest in equal parts on October 23, 2019 and October 23, 2020, as long as Mr. Raleigh is still employed with Epsilon at each applicable vesting date. Otherwise, the Restricted Stock Grant will be forfeited.

3. Vesting evenly at each anniversary of the grant date (12/31/2018) over a three year period, as long as Mr. Raleigh is still employed with Epsilon at each applicable vesting date. Otherwise, the Restricted Stock Grant will be forfeited.

4. Vesting in full or in part on 12/31/2021 assuming specified performance goals have been met. Unvested Shares will be forfeited.

5. Upon vesting, the Restricted Stock Grants convert into Common Shares on a one-for-one basis.

	/s/ B Lane Bond as attorney-in-fact	02/25/2019
	** 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).
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