SEC Form 4
FORM 4 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP 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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
| 2. Issuer Name and Ticker or Trading Symbol Erin Energy Corp. [ ERN ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
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3. Date of Earliest Transaction (Month/Day/Year) 05/19/2016 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock | 04/03/2017 | J(1) | 116,108,833 | D | (1) | 0 | I | By Allied Energy PLC | ||
Common Stock | 04/13/2017 | J(2) | 1,515,927 | D | (2) | 0 | I | By CAMAC Int'l (Nigeria) Ltd. | ||
Common Stock | 07/05/2017 | J(3) | 117,624,760 | A | (3) | 117,624,760 | I | Through Voting Agreement(3) | ||
Common Stock | 05/19/2016 | P | 2,700 | A | $2.05(4) | 2,605,619 | D | |||
Common Stock | 05/23/2016 | P | 620 | A | $1.85(5) | 2,606,239 | D | |||
Common Stock | 05/24/2016 | P | 900 | A | $2(6) | 2,607,139 | D | |||
Common Stock | 05/25/2016 | P | 200 | A | $2.05(7) | 2,607,339 | D | |||
Common Stock | 05/26/2016 | P | 2,000 | A | $2.45(8) | 2,609,339 | D | |||
Common Stock | 05/27/2016 | P | 1,600 | A | $2.44(9) | 2,610,939 | D | |||
Common Stock | 06/01/2016 | P | 3,314 | A | $2.44(10) | 2,614,253 | D | |||
Common Stock | 06/02/2016 | P | 700 | A | $2.3(11) | 2,614,953 | D | |||
Common Stock | 06/03/2016 | P | 600 | A | $2.39(12) | 2,615,553 | D | |||
Common Stock | 06/08/2016 | P | 1,500 | A | $2.73(13) | 2,617,053 | D | |||
Common Stock | 06/13/2016 | P | 1,500 | A | $2.6(14) | 2,618,553 | D | |||
Common Stock | 06/14/2016 | P | 5,700 | A | $2.59(15) | 2,624,253 | D | |||
Common Stock | 06/15/2016 | P | 700 | A | $2.51(16) | 2,624,953 | D | |||
Common Stock | 06/16/2016 | P | 2,130 | A | $2.34(17) | 2,627,083 | D | |||
Common Stock | 06/23/2016 | P | 1,200 | A | $2.3(18) | 2,628,283 | D | |||
Common Stock | 06/24/2016 | P | 1,000 | A | $2.16(19) | 2,629,283 | D | |||
Common Stock | 06/27/2016 | P | 1,600 | A | $2.12(20) | 2,630,883 | D | |||
Common Stock | 06/30/2016 | P | 4,400 | A | $2.34(21) | 2,635,283 | D | |||
Common Stock | 07/01/2016 | P | 3,500 | A | $2.34(22) | 2,638,783 | D | |||
Common Stock | 07/05/2016 | P | 2,000 | A | $2.2(23) | 2,640,783 | D | |||
Common Stock | 07/12/2016 | P | 1,906 | A | $2.52(24) | 2,642,689 | D | |||
Common Stock | 07/18/2016 | P | 3,600 | A | $2.72(25) | 2,646,289 | D | |||
Common Stock | 07/21/2016 | P | 3,500 | A | $2.65(26) | 2,649,789 | D | |||
Common Stock | 07/22/2016 | P | 1,700 | A | $2.59(27) | 2,651,489 | D | |||
Common Stock | 07/25/2016 | P | 3,400 | A | $2.55(28) | 2,654,889 | D | |||
Common Stock | 07/26/2016 | P | 900 | A | $2.5(29) | 2,655,789 | D | |||
Common Stock | 07/27/2016 | P | 3,400 | A | $2.5(30) | 2,659,189 | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Explanation of Responses: |
1. On April 3, 2017, an aggregate of 116,108,833 shares of the Registrant's common stock previously held by Allied Energy PLC ("Allied"), which shares Dr. Lawal was deemed to beneficially own, were foreclosed upon by Oltasho Nigeria Limited ("Oltasho"), in connection with the failure of Allied to timely repay $50 million owed to Oltasho, pursuant to the terms of a loan agreement and certain stock pledges. |
2. April 13, 2017, an aggregate of 1,515,927 shares of the Registrant's common stock previously held by CAMAC Int'l (Nigeria) Ltd. ("CAMAC International"), which shares Dr. Lawal was deemed to beneficially own, were foreclosed upon by Latmol Investment Limited ("Latmol"), in connection with the failure of CAMAC International to timely repay $50 million owed by CAMAC International to Latmol, pursuant to the terms of a loan agreement and a stock pledge. |
3. On July 5, 2017, Oltasho and Latmol entered into a Voting Agreement with Dr. Lawal (the "Voting Agreement"). Pursuant to the Voting Agreement, Oltasho and Latmol provided complete authority to Dr. Lawal to vote the 117,624,760 shares foreclosed upon (and any other securities of the Registrant obtained by Oltasho and/or Latmol in the future) at any and all meetings of stockholders of the Registrant and via any written consents. The Voting Agreement has a term of approximately 10 years, through July 31, 2027, but can be terminated at any time with the mutual consent of the parties. In connection with their entry into the Voting Agreement, Oltasho and Latmol each provided Dr. Lawal an irrevocable voting proxy to vote the shares covered by the Voting Agreement. Additionally, Oltasho and Latmol agreed not to transfer the shares covered by the Voting Agreement, during the term of such agreement, except pursuant to certain limited exceptions described in the Voting Agreement. |
4. The price reflects a weighted average of purchases made at prices ranging from $2.00 to $2.14. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
5. The price reflects a weighted average of purchases made at prices ranging from $1.85 to $1.86. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
6. The price reflects a weighted average of purchases made at prices ranging from $1.98 to $2.03. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
7. The price reflects a weighted average of purchases made at prices ranging from $2.05 to $2.05. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
8. The price reflects a weighted average of purchases made at prices ranging from $2.40 to $2.50. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
9. The price reflects a weighted average of purchases made at prices ranging from $2.43 to $2.47. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
10. The price reflects a weighted average of purchases made at prices ranging from $2.44 to $2.45. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
11. The price reflects a weighted average of purchases made at prices ranging from $2.29 to $2.31. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
12. The price reflects a weighted average of purchases made at prices ranging from $2.38 to $2.40. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
13. The price reflects a weighted average of purchases made at prices ranging from $2.72 to $2.73. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
14. The price reflects a weighted average of purchases made at prices ranging from $2.59 to $2.63. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
15. The price reflects a weighted average of purchases made at prices ranging from $2.58 to $2.60. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
16. The price reflects a weighted average of purchases made at prices ranging from $2.51 to $2.51. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
17. The price reflects a weighted average of purchases made at prices ranging from $2.34 to $2.35. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
18. The price reflects a weighted average of purchases made at prices ranging from $2.29 to $2.30. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
19. The price reflects a weighted average of purchases made at prices ranging from $2.16 to $2.16. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
20. The price reflects a weighted average of purchases made at prices ranging from $2.11 to $2.15. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
21. The price reflects a weighted average of purchases made at prices ranging from $2.26 to $2.41. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
22. The price reflects a weighted average of purchases made at prices ranging from $2.29 to $2.37. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
23. The price reflects a weighted average of purchases made at prices ranging from $2.18 to $2.22. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
24. The price reflects a weighted average of purchases made at prices ranging from $2.51 to $2.55. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
25. The price reflects a weighted average of purchases made at prices ranging from $2.71 to $2.74. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
26. The price reflects a weighted average of purchases made at prices ranging from $2.53 to $2.72. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
27. The price reflects a weighted average of purchases made at prices ranging from $2.58 to $2.60. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
28. The price reflects a weighted average of purchases made at prices ranging from $2.54 to $2.57. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
29. The price reflects a weighted average of purchases made at prices ranging from $2.48 to $2.52. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
30. The price reflects a weighted average of purchases made at prices ranging from $2.44 to $2.53. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price. |
/s/ Kase Lukman Lawal | 10/13/2017 | |
** 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 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). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
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 Number. |